D.A. Davidson & CO. Raises Holdings in Veeva Systems Inc. (NYSE:VEEV)

D.A. Davidson & CO. increased its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 28.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,230 shares of the technology company’s stock after purchasing an additional 1,600 shares during the quarter. D.A. Davidson & CO.’s holdings in Veeva Systems were worth $1,520,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in VEEV. MassMutual Private Wealth & Trust FSB boosted its stake in Veeva Systems by 72.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock worth $25,000 after buying an additional 50 shares during the last quarter. True Wealth Design LLC boosted its stake in 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 buying an additional 135 shares during the last quarter. Avion Wealth boosted its stake in Veeva Systems by 635.0% during the fourth quarter. Avion Wealth now owns 147 shares of the technology company’s stock worth $30,000 after buying an additional 127 shares during 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 acquired a new position in Veeva Systems during the third quarter worth $49,000. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total transaction of $390,128.20. Following the sale, 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 document filed with the Securities & Exchange Commission, which is available through this link. 10.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Royal Bank of Canada boosted their price objective on Veeva Systems from $275.00 to $285.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Piper Sandler boosted their price objective on Veeva Systems from $280.00 to $290.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Stephens started coverage on Veeva Systems in a research note on Friday, December 20th. They set an “overweight” rating and a $280.00 price objective on the stock. Stifel Nicolaus upped their price target on Veeva Systems from $240.00 to $272.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Finally, Evercore ISI upped their price target on Veeva Systems from $220.00 to $245.00 and gave the company an “in-line” rating in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $255.08.

Veeva Systems Price Performance

Shares of NYSE VEEV opened at $226.10 on Friday. The stock’s 50-day moving average is $223.76 and its two-hundred day moving average is $217.39. Veeva Systems Inc. has a 1-year low of $170.25 and a 1-year high of $258.93. The company has a market cap of $36.71 billion, a price-to-earnings ratio of 55.83, a price-to-earnings-growth ratio of 1.89 and a beta of 0.85.

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.