Kestra Private Wealth Services LLC Grows Stake in Veeva Systems Inc. (NYSE:VEEV)

Kestra Private Wealth Services LLC lifted its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 66.0% during the fourth quarter, Holdings Channel reports. The fund owned 4,109 shares of the technology company’s stock after purchasing an additional 1,634 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Veeva Systems were worth $864,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of VEEV. NBC Securities Inc. increased its position in shares of Veeva Systems by 8.4% during the third quarter. NBC Securities Inc. now owns 1,347 shares of the technology company’s stock worth $282,000 after acquiring an additional 104 shares during the last quarter. Vontobel Holding Ltd. increased its position in shares of Veeva Systems by 6.1% during the third quarter. Vontobel Holding Ltd. now owns 23,829 shares of the technology company’s stock worth $5,001,000 after acquiring an additional 1,380 shares during the last quarter. nVerses Capital LLC increased its position in shares of Veeva Systems by 11.9% during the third quarter. nVerses Capital LLC now owns 4,700 shares of the technology company’s stock worth $986,000 after acquiring an additional 500 shares during the last quarter. Bleakley Financial Group LLC increased its position in shares of Veeva Systems by 11.0% during the third quarter. Bleakley Financial Group LLC now owns 4,476 shares of the technology company’s stock worth $939,000 after acquiring an additional 445 shares during the last quarter. Finally, Cardinal Capital Management increased its position in shares of Veeva Systems by 1.5% during the third quarter. Cardinal Capital Management now owns 15,683 shares of the technology company’s stock worth $3,291,000 after acquiring an additional 231 shares during the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Jonathan Faddis sold 1,694 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total transaction of $390,128.20. Following the sale, the senior vice president now owns 8,061 shares of the company’s stock, valued at $1,856,448.30. The trade was a 17.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 10.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on VEEV shares. KeyCorp dropped their target price on Veeva Systems from $285.00 to $255.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Truist Financial decreased their price target on Veeva Systems from $261.00 to $210.00 and set a “hold” rating for the company in a research note on Monday, January 13th. Stephens began coverage on Veeva Systems in a research note on Friday, December 20th. They issued an “overweight” rating and a $280.00 price target for the company. Morgan Stanley lifted their price target on Veeva Systems from $183.00 to $195.00 and gave the stock an “underweight” rating in a research note on Tuesday, December 17th. Finally, Citigroup lifted their price target on Veeva Systems from $281.00 to $307.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, Veeva Systems has an average rating of “Moderate Buy” and a consensus price target of $253.96.

Veeva Systems Trading Up 0.3 %

VEEV opened at $234.04 on Friday. The business’s 50 day moving average is $224.76 and its 200-day moving average is $215.54. The stock has a market cap of $38.00 billion, a PE ratio of 57.79, a price-to-earnings-growth ratio of 1.97 and a beta of 0.85. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93.

Veeva Systems Profile

Veeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and analytics solutions, such as Veeva customer relationship management (CRM) that enable customer-facing employees at pharmaceutical and biotechnology companies; Veeva Vault PromoMats, an end-to-end content and digital asset management solution; Veeva Vault Medical that provides source of medical content across multiple channels and geographies; Veeva Crossix, an analytics platform for pharmaceutical brands; Veeva OpenData, a customer reference data solution; Veeva Link, a data application that allows link to generate real-time intelligence; and Veeva Compass includes de-identified and longitudinal patient data for the United States.