Fairman Group LLC Sells 1,126 Shares of Veeva Systems Inc. (NYSE:VEEV)

Fairman Group LLC lowered its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 4.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,939 shares of the technology company’s stock after selling 1,126 shares during the period. Veeva Systems comprises about 4.5% of Fairman Group LLC’s investment portfolio, making the stock its 5th biggest holding. Fairman Group LLC’s holdings in Veeva Systems were worth $5,454,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. MassMutual Private Wealth & Trust FSB grew its position in Veeva Systems by 72.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock worth $25,000 after acquiring an additional 50 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of Veeva Systems in the 3rd quarter valued at $26,000. True Wealth Design LLC boosted 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 worth $29,000 after purchasing an additional 135 shares in the last quarter. Retirement Wealth Solutions LLC acquired a new position in Veeva Systems during the fourth quarter worth $31,000. Finally, Harvest Fund Management Co. Ltd bought a new position in Veeva Systems during the third quarter valued at about $49,000. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Veeva Systems Stock Performance

Shares of NYSE VEEV opened at $234.43 on Wednesday. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93. The business has a fifty day moving average of $224.68 and a two-hundred day moving average of $215.12. The stock has a market cap of $38.06 billion, a PE ratio of 57.88, a PEG ratio of 1.97 and a beta of 0.85.

Insider Activity at Veeva Systems

In related news, SVP Jonathan Faddis sold 1,694 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total transaction of $390,128.20. Following the transaction, the senior vice president now owns 8,061 shares in the company, valued at $1,856,448.30. This represents a 17.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 10.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on VEEV shares. Stephens started coverage on Veeva Systems in a research note on Friday, December 20th. They set an “overweight” rating and a $280.00 price target for the company. Bank of America upped their target price on Veeva Systems from $280.00 to $290.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Canaccord Genuity Group increased their price target on Veeva Systems from $210.00 to $270.00 and gave the company a “hold” rating in a report on Friday, December 6th. Robert W. Baird boosted their price objective on shares of Veeva Systems from $275.00 to $283.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Finally, Mizuho began coverage on shares of Veeva Systems in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $275.00 target price on the stock. Two investment 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, Veeva Systems presently has an average rating of “Moderate Buy” and a consensus price target of $253.96.

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.