Veeva Systems Inc. (NYSE:VEEV) Shares Sold by SYSTM Wealth Solutions LLC

SYSTM Wealth Solutions LLC lessened its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 44.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,379 shares of the technology company’s stock after selling 5,915 shares during the period. SYSTM Wealth Solutions LLC’s holdings in Veeva Systems were worth $1,350,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Montag & Caldwell LLC raised its position in shares of Veeva Systems by 3.3% during the 2nd quarter. Montag & Caldwell LLC now owns 3,395 shares of the technology company’s stock worth $621,000 after acquiring an additional 110 shares in the last quarter. Citizens Financial Group Inc. RI acquired a new stake in shares of Veeva Systems during the 2nd quarter worth about $563,000. Dimensional Fund Advisors LP raised its position in shares of Veeva Systems by 26.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 378,380 shares of the technology company’s stock worth $69,259,000 after acquiring an additional 78,654 shares in the last quarter. Plato Investment Management Ltd raised its position in shares of Veeva Systems by 19.5% during the 2nd quarter. Plato Investment Management Ltd now owns 6,349 shares of the technology company’s stock worth $1,162,000 after acquiring an additional 1,037 shares in the last quarter. Finally, Nia Impact Advisors LLC grew its stake in Veeva Systems by 2.5% during the 2nd quarter. Nia Impact Advisors LLC now owns 6,119 shares of the technology company’s stock worth $1,120,000 after buying an additional 150 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on VEEV shares. Raymond James raised their price target on Veeva Systems from $230.00 to $235.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Royal Bank of Canada restated an “outperform” rating and set a $250.00 price target on shares of Veeva Systems in a research note on Thursday, August 29th. JPMorgan Chase & Co. raised their price target on Veeva Systems from $203.00 to $208.00 and gave the stock a “neutral” rating in a research note on Monday, September 9th. Guggenheim raised their price target on Veeva Systems from $211.00 to $233.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Finally, Citigroup raised their price target on Veeva Systems from $256.00 to $273.00 and gave the stock a “buy” rating in a report on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $229.96.

Insider Activity

In related news, SVP Jonathan Faddis sold 2,353 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total value of $470,600.00. Following the completion of the transaction, the senior vice president now directly owns 9,035 shares of the company’s stock, valued at approximately $1,807,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 10.50% of the company’s stock.

Veeva Systems Trading Down 1.0 %

VEEV stock opened at $214.80 on Wednesday. The company’s 50-day moving average price is $197.48 and its 200 day moving average price is $201.61. Veeva Systems Inc. has a 52 week low of $162.72 and a 52 week high of $236.90. The company has a market cap of $34.72 billion, a P/E ratio of 63.36, a P/E/G ratio of 2.14 and a beta of 0.81.

About Veeva Systems

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.