Truist Financial Corp Has $10.29 Million Holdings in Veeva Systems Inc. (NYSE:VEEV)

Truist Financial Corp lessened its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 5.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 48,917 shares of the technology company’s stock after selling 2,587 shares during the quarter. Truist Financial Corp’s holdings in Veeva Systems were worth $10,285,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of VEEV. Blue Trust Inc. increased its position in Veeva Systems by 453.9% during the third quarter. Blue Trust Inc. now owns 986 shares of the technology company’s stock worth $207,000 after buying an additional 808 shares during the last quarter. Raymond James & Associates increased its position in Veeva Systems by 9.1% during the third quarter. Raymond James & Associates now owns 115,954 shares of the technology company’s stock worth $24,335,000 after buying an additional 9,713 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of Veeva Systems by 3.5% during the third quarter. Sequoia Financial Advisors LLC now owns 16,449 shares of the technology company’s stock worth $3,452,000 after acquiring an additional 550 shares during the period. Capital Investment Counsel Inc boosted its holdings in shares of Veeva Systems by 5.5% during the third quarter. Capital Investment Counsel Inc now owns 26,646 shares of the technology company’s stock worth $5,592,000 after acquiring an additional 1,384 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings in shares of Veeva Systems by 19,189.0% during the third quarter. International Assets Investment Management LLC now owns 119,206 shares of the technology company’s stock worth $25,018,000 after acquiring an additional 118,588 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Analyst Ratings Changes

VEEV has been the subject of a number of research analyst reports. Stephens initiated coverage on Veeva Systems in a report on Friday, December 20th. They set an “overweight” rating and a $280.00 price objective for the company. Wells Fargo & Company boosted their price objective on Veeva Systems from $275.00 to $285.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. KeyCorp reduced their price objective on Veeva Systems from $285.00 to $255.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Morgan Stanley boosted their price objective on Veeva Systems from $183.00 to $195.00 and gave the stock an “underweight” rating in a report on Tuesday, December 17th. Finally, Barclays boosted their price target on Veeva Systems from $260.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Two equities research 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, Veeva Systems has a consensus rating of “Moderate Buy” and an average target price of $253.96.

Veeva Systems Stock Performance

Shares of NYSE:VEEV opened at $228.73 on Friday. The company has a fifty day moving average of $223.89 and a 200-day moving average of $217.03. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93. The company has a market capitalization of $37.13 billion, a PE ratio of 56.48, a price-to-earnings-growth ratio of 1.92 and a beta of 0.85.

Insiders Place Their Bets

In other news, SVP Jonathan Faddis sold 1,694 shares of the 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 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 Securities & Exchange Commission, which is available through this link. Company insiders own 10.50% of the company’s stock.

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.