Howard Capital Management Inc. Boosts Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Howard Capital Management Inc. grew its stake in Veeva Systems Inc. (NYSE:VEEV) by 7.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,177 shares of the technology company’s stock after acquiring an additional 82 shares during the quarter. Howard Capital Management Inc.’s holdings in Veeva Systems were worth $247,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in VEEV. MassMutual Private Wealth & Trust FSB grew its position in shares of Veeva Systems by 72.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock valued at $25,000 after purchasing an additional 50 shares in the last quarter. Centricity Wealth Management LLC acquired a new position in Veeva Systems in the fourth quarter valued at approximately $25,000. True Wealth Design LLC lifted its holdings in Veeva Systems by 3,375.0% in the third quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock valued at $29,000 after acquiring an additional 135 shares during the last quarter. Avion Wealth lifted its holdings in Veeva Systems by 635.0% in the fourth quarter. Avion Wealth now owns 147 shares of the technology company’s stock valued at $30,000 after acquiring an additional 127 shares during the last quarter. Finally, Retirement Wealth Solutions LLC acquired a new position in Veeva Systems in the fourth quarter valued at approximately $31,000. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Veeva Systems Stock Down 2.0 %

NYSE VEEV opened at $221.53 on Wednesday. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93. The business’s 50-day moving average price is $223.69 and its 200 day moving average price is $218.40. The firm has a market cap of $35.97 billion, a P/E ratio of 54.70, a P/E/G ratio of 1.89 and a beta of 0.85.

Analyst Upgrades and Downgrades

A number of research firms recently commented on VEEV. The Goldman Sachs Group cut Veeva Systems from a “buy” rating to a “sell” rating and decreased their price objective for the company from $261.00 to $200.00 in a report on Thursday, January 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $270.00 price objective on shares of Veeva Systems in a report on Friday, January 17th. Scotiabank upped their price objective on Veeva Systems from $235.00 to $240.00 and gave the company a “sector perform” rating in a report on Friday, December 6th. KeyCorp decreased their price objective on Veeva Systems from $285.00 to $255.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Finally, Royal Bank of Canada upped their price objective on Veeva Systems from $275.00 to $285.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $255.08.

Insider Buying and Selling

In related news, SVP Jonathan Faddis sold 1,694 shares of the firm’s stock in a transaction dated 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 owns 8,061 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 10.50% of the company’s stock.

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.