Avantax Advisory Services Inc. Has $1.78 Million Position in Veeva Systems Inc. (NYSE:VEEV)

Avantax Advisory Services Inc. trimmed its position in Veeva Systems Inc. (NYSE:VEEV) by 3.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,473 shares of the technology company’s stock after selling 276 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Veeva Systems were worth $1,781,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB grew its stake 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 acquiring an additional 50 shares in the last quarter. Centricity Wealth Management LLC bought a new stake in Veeva Systems in the 4th quarter valued at about $25,000. Smithfield Trust Co grew its position in shares of Veeva Systems by 145.5% during the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock worth $27,000 after purchasing an additional 80 shares in the last quarter. True Wealth Design LLC increased its holdings in shares of Veeva Systems by 3,375.0% during the third quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock worth $29,000 after purchasing an additional 135 shares during the period. Finally, Avion Wealth raised its position in shares of 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 buying an additional 127 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

Analyst Ratings Changes

VEEV has been the topic of a number of analyst reports. Bank of America increased their price target on Veeva Systems from $280.00 to $290.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Needham & Company LLC restated a “buy” rating and issued a $270.00 price target on shares of Veeva Systems in a research report on Thursday, March 6th. Evercore ISI upped their price objective on shares of Veeva Systems from $220.00 to $245.00 and gave the stock an “in-line” rating in a research report on Friday, December 6th. Scotiabank raised their target price on shares of Veeva Systems from $240.00 to $245.00 and gave the company a “sector perform” rating in a report on Thursday, March 6th. Finally, Mizuho began coverage on shares of Veeva Systems in a report on Wednesday, December 4th. They set an “outperform” rating and a $275.00 price target for the company. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $255.28.

Veeva Systems Price Performance

Shares of VEEV opened at $236.93 on Tuesday. The business has a 50-day moving average of $227.61 and a 200-day moving average of $221.69. The company has a market capitalization of $38.47 billion, a price-to-earnings ratio of 58.50, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93.

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.