Fairman Group LLC Sells 1,126 Shares of Veeva Systems Inc. (NYSE:VEEV)

Fairman Group LLC lessened its stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 4.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,939 shares of the technology company's stock after selling 1,126 shares during the quarter. Veeva Systems makes up 4.5% of Fairman Group LLC's holdings, making the stock its 5th biggest position. Fairman Group LLC's holdings in Veeva Systems were worth $5,454,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in VEEV. MassMutual Private Wealth & Trust FSB lifted 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 purchasing an additional 50 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Veeva Systems during the 3rd quarter valued at $26,000. True Wealth Design LLC lifted its holdings in Veeva Systems by 3,375.0% during 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. Retirement Wealth Solutions LLC acquired a new stake in Veeva Systems during the 4th quarter valued at $31,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in Veeva Systems during the 3rd quarter valued at $49,000. Institutional investors and hedge funds own 88.20% of the company's stock.

Insider Activity

In other news, SVP Jonathan Faddis sold 1,694 shares of Veeva Systems 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 directly owns 8,061 shares of the company's stock, valued at approximately $1,856,448.30. This trade represents a 17.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 10.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on VEEV. KeyCorp cut their price target on Veeva Systems from $285.00 to $255.00 and set an "overweight" rating for the company in a report on Wednesday, January 8th. Canaccord Genuity Group lifted their target price on Veeva Systems from $210.00 to $270.00 and gave the stock a "hold" rating in a report on Friday, December 6th. Citigroup lifted their target price on Veeva Systems from $281.00 to $307.00 and gave the stock a "buy" rating in a report on Monday, December 9th. Morgan Stanley lifted their target price on Veeva Systems from $183.00 to $195.00 and gave the stock an "underweight" rating in a report on Tuesday, December 17th. Finally, Scotiabank lifted their target price on Veeva Systems from $235.00 to $240.00 and gave the stock a "sector perform" rating in a report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $253.96.

Veeva Systems Trading Down 0.0 %

Veeva Systems stock traded down $0.06 during midday trading on Friday, reaching $234.09. The company's stock had a trading volume of 853,426 shares, compared to its average volume of 1,002,875. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93. The business has a 50-day moving average price of $224.48 and a 200-day moving average price of $215.96. The stock has a market cap of $38.00 billion, a PE ratio of 57.80, a price-to-earnings-growth ratio of 1.97 and a beta of 0.85.

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.