Belpointe Asset Management LLC Has $1.56 Million Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Belpointe Asset Management LLC increased its holdings in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 99.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,212 shares of the technology company's stock after acquiring an additional 3,605 shares during the quarter. Belpointe Asset Management LLC's holdings in Veeva Systems were worth $1,561,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. MassMutual Private Wealth & Trust FSB grew its holdings in Veeva Systems by 72.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company's stock valued at $25,000 after buying an additional 50 shares during the last quarter. Centricity Wealth Management LLC acquired a new stake in shares of Veeva Systems during the fourth quarter valued at $25,000. Smithfield Trust Co boosted its stake in shares of Veeva Systems by 145.5% during the fourth quarter. Smithfield Trust Co now owns 135 shares of the technology company's stock valued at $27,000 after acquiring an additional 80 shares during the last quarter. Avion Wealth raised its position in shares of Veeva Systems by 635.0% in the fourth quarter. Avion Wealth now owns 147 shares of the technology company's stock valued at $30,000 after buying an additional 127 shares during the last quarter. Finally, Retirement Wealth Solutions LLC acquired a new position in Veeva Systems in the 4th quarter valued at $31,000. Hedge funds and other institutional investors own 88.20% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on VEEV. Stephens reissued an "overweight" rating and set a $280.00 price objective on shares of Veeva Systems in a research note on Thursday, March 6th. Needham & Company LLC reiterated a "buy" rating and set a $270.00 target price on shares of Veeva Systems in a report on Thursday, March 6th. The Goldman Sachs Group downgraded Veeva Systems from a "buy" rating to a "sell" rating and lowered their price target for the company from $261.00 to $200.00 in a report on Thursday, January 23rd. StockNews.com upgraded shares of Veeva Systems from a "hold" rating to a "buy" rating in a research note on Monday, February 17th. Finally, Robert W. Baird lifted their price objective on Veeva Systems from $283.00 to $285.00 and gave the stock an "outperform" rating in a report on Thursday, March 6th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $256.32.

Veeva Systems Stock Performance

Shares of NYSE:VEEV traded down $4.93 during trading on Friday, reaching $215.73. The company had a trading volume of 1,195,499 shares, compared to its average volume of 1,063,925. The firm's fifty day moving average is $227.68 and its 200 day moving average is $223.29. The firm has a market capitalization of $35.10 billion, a PE ratio of 53.27, a price-to-earnings-growth ratio of 1.89 and a beta of 1.05. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93.

Insider Buying and Selling

In other Veeva Systems news, Director Timothy S. Cabral sold 3,882 shares of the business's stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $216.83, for a total value of $841,734.06. Following the transaction, the director now owns 5,500 shares in the company, valued at $1,192,565. The trade was a 41.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Thomas D. Schwenger sold 1,200 shares of the firm's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $220.97, for a total transaction of $265,164.00. Following the transaction, the insider now directly owns 25,889 shares in the company, valued at approximately $5,720,692.33. The trade was a 4.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,869 shares of company stock worth $1,284,917 in the last ninety days. 10.50% of the stock is currently owned by corporate 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.