abrdn plc trimmed its holdings in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 15.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,450 shares of the technology company's stock after selling 4,610 shares during the period. abrdn plc's holdings in Veeva Systems were worth $5,382,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB increased its position in shares of Veeva Systems by 72.5% during 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 during the third quarter valued at about $26,000. True Wealth Design LLC increased its position in shares of Veeva Systems by 3,375.0% during the third quarter. True Wealth Design LLC now owns 139 shares of the technology company's stock valued at $29,000 after acquiring an additional 135 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new stake in shares of Veeva Systems during the fourth quarter valued at about $31,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Veeva Systems during the third quarter valued at about $49,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of brokerages have weighed in on VEEV. Piper Sandler lifted their price target on shares of Veeva Systems from $280.00 to $290.00 and gave the company an "overweight" rating in a research report on Friday, December 6th. Robert W. Baird raised their price objective on shares of Veeva Systems from $275.00 to $283.00 and gave the company an "outperform" rating in a research note on Friday, December 6th. Mizuho initiated coverage on shares of Veeva Systems in a research note on Wednesday, December 4th. They issued an "outperform" rating and a $275.00 price objective for the company. Bank of America raised their price objective on shares of Veeva Systems from $280.00 to $290.00 and gave the company a "neutral" rating in a research note on Friday, December 6th. Finally, Royal Bank of Canada raised their price objective on shares of Veeva Systems from $275.00 to $285.00 and gave the company an "outperform" rating in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $253.96.
Read Our Latest Stock Report on VEEV
Insider Transactions at Veeva Systems
In other news, SVP Jonathan Faddis sold 1,694 shares of Veeva Systems stock in a transaction on Wednesday, December 4th. The shares were 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 of the company's stock, valued at $1,856,448.30. The trade was a 17.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 10.50% of the company's stock.
Veeva Systems Price Performance
Shares of NYSE:VEEV traded up $0.70 during trading on Thursday, hitting $234.04. 705,335 shares of the company were exchanged, compared to its average volume of 988,163. The stock has a market capitalization of $38.00 billion, a P/E ratio of 57.79, a PEG ratio of 1.97 and a beta of 0.85. Veeva Systems Inc. has a 12-month low of $170.25 and a 12-month high of $258.93. The firm's 50 day moving average price is $224.76 and its 200-day moving average price is $215.54.
Veeva Systems Profile
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Free Report)
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.
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