Avion Wealth Boosts Stake in Veeva Systems Inc. (NYSE:VEEV)

Avion Wealth grew its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 635.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 147 shares of the technology company’s stock after acquiring an additional 127 shares during the period. Avion Wealth’s holdings in Veeva Systems were worth $30,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Massachusetts Financial Services Co. MA boosted its holdings 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 purchasing an additional 1,392,256 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Veeva Systems by 138.9% in the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock valued at $457,366,000 after purchasing an additional 1,267,061 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Veeva Systems by 73.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company’s stock valued at $536,972,000 after buying an additional 1,081,501 shares during the last quarter. FMR LLC grew its position in shares of Veeva Systems by 25.7% during the third quarter. FMR LLC now owns 2,981,244 shares of the technology company’s stock worth $625,674,000 after buying an additional 610,021 shares in the last quarter. Finally, Seilern Investment Management Ltd bought a new stake in shares of Veeva Systems in the fourth quarter worth $94,957,000. 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 firm’s stock in a transaction dated 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 transaction, the senior vice president now owns 8,061 shares of the company’s stock, valued at $1,856,448.30. This trade represents a 17.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 10.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. StockNews.com downgraded shares of Veeva Systems from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $270.00 price target on shares of Veeva Systems in a research report on Friday, January 17th. KeyCorp decreased their price target on Veeva Systems from $285.00 to $255.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. The Goldman Sachs Group cut Veeva Systems from a “buy” rating to a “sell” rating and cut their price objective for the company from $261.00 to $200.00 in a research note on Thursday, January 23rd. Finally, Robert W. Baird lifted their target price on Veeva Systems from $275.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, Veeva Systems presently has an average rating of “Moderate Buy” and an average target price of $253.96.

Veeva Systems Price Performance

Shares of Veeva Systems stock opened at $233.26 on Thursday. Veeva Systems Inc. has a 1-year low of $170.25 and a 1-year high of $258.93. The business’s fifty day moving average price is $224.84 and its two-hundred day moving average price is $215.41. The company has a market capitalization of $37.87 billion, a P/E ratio of 57.60, a PEG ratio of 1.97 and a beta of 0.85.

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.