Suncoast Equity Management Has $781,000 Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Suncoast Equity Management lifted its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 8.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,715 shares of the technology company’s stock after buying an additional 305 shares during the quarter. Suncoast Equity Management’s holdings in Veeva Systems were worth $781,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of VEEV. MassMutual Private Wealth & Trust FSB increased its stake 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 valued at $25,000 after acquiring an additional 50 shares during 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 increased its stake in shares of Veeva Systems by 3,375.0% in the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock valued at $29,000 after purchasing an additional 135 shares during the last quarter. Avion Wealth raised its holdings in shares of Veeva Systems by 635.0% during the 4th quarter. Avion Wealth now owns 147 shares of the technology company’s stock worth $30,000 after buying an additional 127 shares in the last quarter. Finally, Retirement Wealth Solutions LLC bought a new stake in shares of Veeva Systems during the 4th quarter worth $31,000. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Price Performance

NYSE:VEEV opened at $228.73 on Friday. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93. The business has a fifty day moving average price of $223.89 and a 200-day moving average price of $217.03. The firm has a market capitalization of $37.13 billion, a price-to-earnings ratio of 56.48, a price-to-earnings-growth ratio of 1.89 and a beta of 0.85.

Insider Buying and Selling at Veeva Systems

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $270.00 target price on shares of Veeva Systems in a research note on Friday, January 17th. Truist Financial cut their price target 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. Scotiabank upped their price objective on Veeva Systems from $235.00 to $240.00 and gave the company a “sector perform” rating in a research note on Friday, December 6th. Piper Sandler lifted their target price on shares of Veeva Systems from $280.00 to $290.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Finally, Mizuho assumed coverage on shares of Veeva Systems in a report on Wednesday, December 4th. They set an “outperform” rating and a $275.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company 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.