Maia Wealth LLC Acquires 383 Shares of Veeva Systems Inc. (NYSE:VEEV)

Maia Wealth LLC lifted its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 11.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,851 shares of the technology company’s stock after purchasing an additional 383 shares during the quarter. Maia Wealth LLC’s holdings in Veeva Systems were worth $869,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in VEEV. Massachusetts Financial Services Co. MA increased its stake in Veeva Systems by 64.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company’s stock valued at $744,084,000 after acquiring an additional 1,392,256 shares during the last quarter. State Street Corp increased its stake in Veeva Systems by 1.5% in the third quarter. State Street Corp now owns 3,293,141 shares of the technology company’s stock valued at $691,132,000 after acquiring an additional 47,872 shares during the last quarter. FMR LLC increased its stake in Veeva Systems by 25.7% in the third quarter. FMR LLC now owns 2,981,244 shares of the technology company’s stock valued at $625,674,000 after acquiring an additional 610,021 shares during the last quarter. Principal Financial Group Inc. increased its stake in Veeva Systems by 36.0% in the fourth quarter. Principal Financial Group Inc. now owns 2,964,025 shares of the technology company’s stock valued at $623,186,000 after acquiring an additional 784,741 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Veeva Systems by 5.7% in the third quarter. Geode Capital Management LLC now owns 2,765,236 shares of the technology company’s stock valued at $579,630,000 after acquiring an additional 149,807 shares during the last quarter. 88.20% of the stock is owned by institutional investors.

Insider Buying and Selling at Veeva Systems

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

Veeva Systems Stock Up 1.5 %

VEEV stock opened at $224.33 on Friday. The firm has a market cap of $36.42 billion, a price-to-earnings ratio of 55.39, a PEG ratio of 1.89 and a beta of 0.85. Veeva Systems Inc. has a 12-month low of $170.25 and a 12-month high of $258.93. The company’s fifty day simple moving average is $223.85 and its 200 day simple moving average is $218.95.

Analysts Set New Price Targets

A number of research analysts recently issued reports on VEEV shares. Evercore ISI lifted their price objective on shares of Veeva Systems from $220.00 to $245.00 and gave the company an “in-line” rating in a research note on Friday, December 6th. Royal Bank of Canada raised their target price on shares of Veeva Systems from $275.00 to $285.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Canaccord Genuity Group raised their target price on shares of Veeva Systems from $210.00 to $270.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Stephens assumed coverage on shares of Veeva Systems in a research report on Friday, December 20th. They issued an “overweight” rating and a $280.00 target price on the stock. Finally, The Goldman Sachs Group lowered shares of Veeva Systems from a “buy” rating to a “sell” rating and cut their target price for the company from $261.00 to $200.00 in a research report on Thursday, January 23rd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $255.08.

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.