Portfolio Design Labs LLC Buys Shares of 1,272 Veeva Systems Inc. (NYSE:VEEV)

Portfolio Design Labs LLC bought a new stake in Veeva Systems Inc. (NYSE:VEEV) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,272 shares of the technology company’s stock, valued at approximately $267,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Shaker Investments LLC OH bought a new stake in shares of Veeva Systems during the 4th quarter valued at $2,001,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Veeva Systems during the 4th quarter valued at $59,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in shares of Veeva Systems by 9.2% during the 4th quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 528,568 shares of the technology company’s stock valued at $119,335,000 after purchasing an additional 44,382 shares during the period. 17 Capital Partners LLC raised its stake in shares of Veeva Systems by 9.5% during the 4th quarter. 17 Capital Partners LLC now owns 1,783 shares of the technology company’s stock valued at $375,000 after purchasing an additional 155 shares during the period. Finally, Kestra Private Wealth Services LLC raised its stake in shares of Veeva Systems by 66.0% during the 4th quarter. Kestra Private Wealth Services LLC now owns 4,109 shares of the technology company’s stock valued at $864,000 after purchasing an additional 1,634 shares during the period. 88.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on VEEV. JPMorgan Chase & Co. boosted their price objective on Veeva Systems from $208.00 to $218.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. Truist Financial decreased their target price on Veeva Systems from $261.00 to $210.00 and set a “hold” rating on the stock in a research note on Monday, January 13th. Royal Bank of Canada upped their target price on Veeva Systems from $275.00 to $285.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Scotiabank upped their target price on Veeva Systems from $235.00 to $240.00 and gave the stock a “sector perform” rating in a research note on Friday, December 6th. Finally, StockNews.com lowered Veeva Systems from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $253.96.

Veeva Systems Price Performance

Shares of VEEV stock opened at $233.26 on Thursday. The stock has a market capitalization of $37.87 billion, a PE ratio of 57.60, a P/E/G ratio of 1.97 and a beta of 0.85. Veeva Systems Inc. has a 1-year low of $170.25 and a 1-year high of $258.93. The business has a 50-day moving average of $224.84 and a 200 day moving average of $215.41.

Insider Activity at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of the company’s stock in a transaction that occurred on 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 represents a 17.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 10.50% of the stock is currently owned by company insiders.

Veeva Systems Company 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.