Arcadia Investment Management Corp MI Sells 2,877 Shares of Veeva Systems Inc. (NYSE:VEEV)

Arcadia Investment Management Corp MI cut its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 5.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 54,049 shares of the technology company’s stock after selling 2,877 shares during the quarter. Veeva Systems makes up approximately 1.8% of Arcadia Investment Management Corp MI’s holdings, making the stock its 18th biggest position. Arcadia Investment Management Corp MI’s holdings in Veeva Systems were worth $11,364,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB grew its stake in shares of Veeva Systems by 72.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock valued at $25,000 after acquiring an additional 50 shares during the period. Centricity Wealth Management LLC bought a new position in shares of Veeva Systems during the 4th quarter valued at approximately $25,000. Mowery & Schoenfeld Wealth Management LLC bought a new position in Veeva Systems in the 3rd quarter worth approximately $26,000. True Wealth Design LLC grew its holdings in Veeva Systems by 3,375.0% during the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock valued at $29,000 after buying an additional 135 shares in the last quarter. Finally, Retirement Wealth Solutions LLC purchased a new stake in Veeva Systems during the 4th quarter valued at approximately $31,000. 88.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, SVP Jonathan Faddis sold 1,694 shares of Veeva Systems stock in a transaction 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 completion of the sale, the senior vice president now directly owns 8,061 shares in the company, valued at approximately $1,856,448.30. This trade represents a 17.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 10.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Robert W. Baird increased their price objective on shares of Veeva Systems from $275.00 to $283.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Canaccord Genuity Group increased their price objective on shares of Veeva Systems from $210.00 to $270.00 and gave the company a “hold” rating in a report on Friday, December 6th. Mizuho assumed coverage on shares of Veeva Systems in a report on Wednesday, December 4th. They set an “outperform” rating and a $275.00 price objective for the company. Piper Sandler increased their price objective on shares of Veeva Systems from $280.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Finally, Evercore ISI increased their price objective on shares of Veeva Systems from $220.00 to $245.00 and gave the company an “in-line” rating in a report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $253.96.

Veeva Systems Stock Down 0.2 %

Shares of VEEV opened at $228.73 on Friday. The company has a market cap of $37.13 billion, a PE ratio of 56.48, a P/E/G ratio of 1.89 and a beta of 0.85. The business has a fifty day moving average of $223.89 and a 200 day moving average of $217.03. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93.

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.