JFG Wealth Management LLC Takes $427,000 Position in Veeva Systems Inc. (NYSE:VEEV)

JFG Wealth Management LLC purchased a new position in shares of Veeva Systems Inc. (NYSE:VEEV) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,032 shares of the technology company’s stock, valued at approximately $427,000.

Several other hedge funds have also recently modified their holdings of VEEV. Massachusetts Financial Services Co. MA increased its position in Veeva Systems by 64.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company’s stock worth $744,084,000 after purchasing an additional 1,392,256 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Veeva Systems by 138.9% in the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock valued at $457,366,000 after buying an additional 1,267,061 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Veeva Systems by 73.2% during the third quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company’s stock worth $536,972,000 after acquiring an additional 1,081,501 shares during the period. FMR LLC raised its position in Veeva Systems by 25.7% in the third quarter. FMR LLC now owns 2,981,244 shares of the technology company’s stock worth $625,674,000 after acquiring an additional 610,021 shares in the last quarter. Finally, Seilern Investment Management Ltd acquired a new stake in Veeva Systems in the fourth quarter valued at $94,957,000. 88.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Jonathan Faddis sold 1,694 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total transaction of $390,128.20. Following the completion of the transaction, the senior vice president now owns 8,061 shares of the company’s stock, valued at approximately $1,856,448.30. This represents a 17.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 10.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on VEEV. Morgan Stanley upped their price target on shares of Veeva Systems from $183.00 to $195.00 and gave the stock an “underweight” rating in a research note on Tuesday, December 17th. Needham & Company LLC restated a “buy” rating and set a $270.00 target price on shares of Veeva Systems in a research report on Friday, January 17th. Truist Financial dropped their target price on shares of Veeva Systems from $261.00 to $210.00 and set a “hold” rating for the company in a report on Monday, January 13th. Citigroup boosted 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. Finally, Stephens initiated coverage on Veeva Systems in a research note on Friday, December 20th. They issued an “overweight” rating and a $280.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $255.08.

Veeva Systems Stock Down 2.0 %

VEEV stock opened at $221.53 on Wednesday. The stock has a market capitalization of $35.97 billion, a price-to-earnings ratio of 54.70, a price-to-earnings-growth ratio of 1.89 and a beta of 0.85. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93. The stock’s fifty day simple moving average is $223.69 and its 200-day simple moving average is $218.40.

Veeva Systems Company 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.