First Foundation Advisors Grows Stake in Veeva Systems Inc. (NYSE:VEEV)

First Foundation Advisors raised its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 13.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,608 shares of the technology company's stock after buying an additional 2,688 shares during the quarter. First Foundation Advisors' holdings in Veeva Systems were worth $4,753,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. MassMutual Private Wealth & Trust FSB raised its holdings in shares of 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 in the last quarter. Centricity Wealth Management LLC purchased a new position in shares of Veeva Systems during the fourth quarter worth approximately $25,000. Smithfield Trust Co lifted its holdings in shares of Veeva Systems by 145.5% in the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company's stock worth $27,000 after acquiring an additional 80 shares during the last quarter. Avion Wealth grew its holdings in shares of Veeva Systems by 635.0% during the 4th quarter. Avion Wealth now owns 147 shares of the technology company's stock valued at $30,000 after purchasing an additional 127 shares during the last quarter. Finally, Retirement Wealth Solutions LLC purchased a new position in Veeva Systems in the 4th quarter worth $31,000. 88.20% of the stock is currently owned by institutional investors.

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Veeva Systems Price Performance

VEEV stock traded down $2.06 on Tuesday, reaching $221.60. 489,661 shares of the company traded hands, compared to its average volume of 1,065,521. The firm has a fifty day simple moving average of $228.78 and a 200-day simple moving average of $223.27. The company has a market cap of $36.05 billion, a P/E ratio of 54.72, a price-to-earnings-growth ratio of 1.89 and a beta of 1.05. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Scotiabank raised their price objective on Veeva Systems from $240.00 to $245.00 and gave the company a "sector perform" rating in a research note on Thursday, March 6th. Robert W. Baird raised their price target on Veeva Systems from $283.00 to $285.00 and gave the stock an "outperform" rating in a research report on Thursday, March 6th. Stephens reiterated an "overweight" rating and issued a $280.00 price objective on shares of Veeva Systems in a research report on Thursday, March 6th. KeyCorp dropped their price objective on Veeva Systems from $285.00 to $255.00 and set an "overweight" rating for the company in a research note on Wednesday, January 8th. Finally, The Goldman Sachs Group downgraded shares of Veeva Systems from a "buy" rating to a "sell" rating and decreased their target price for the stock from $261.00 to $200.00 in a research note on Thursday, January 23rd. Two investment 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, the stock has an average rating of "Moderate Buy" and a consensus price target of $256.52.

Insider Transactions at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 787 shares of Veeva Systems stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total value of $178,019.40. Following the completion of the sale, the senior vice president now owns 8,668 shares of the company's stock, valued at approximately $1,960,701.60. This trade represents a 8.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Timothy S. Cabral sold 3,882 shares of the company's stock in a transaction on Friday, April 4th. The shares were sold at an average price of $216.83, for a total value of $841,734.06. Following the transaction, the director now directly owns 5,500 shares in the company, valued at approximately $1,192,565. The trade was a 41.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 10.50% of the company's stock.

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.