HF Advisory Group LLC Sells 1,383 Shares of Veeva Systems Inc. (NYSE:VEEV)

HF Advisory Group LLC lowered its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 41.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,933 shares of the technology company's stock after selling 1,383 shares during the period. HF Advisory Group LLC's holdings in Veeva Systems were worth $406,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Veeva Systems during the 3rd quarter worth $26,000. True Wealth Design LLC boosted its holdings in Veeva Systems by 3,375.0% in 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 Veeva Systems in the fourth quarter worth about $31,000. Fairscale Capital LLC bought a new stake in Veeva Systems during the 2nd quarter worth about $46,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in Veeva Systems during the 3rd quarter valued at about $49,000. 88.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on VEEV. Robert W. Baird lifted their price target on shares of Veeva Systems from $275.00 to $283.00 and gave the stock an "outperform" rating in a research report on Friday, December 6th. Morgan Stanley raised their price target on Veeva Systems from $183.00 to $195.00 and gave the stock an "underweight" rating in a research report on Tuesday, December 17th. Needham & Company LLC reissued a "buy" rating and issued a $270.00 target price on shares of Veeva Systems in a research note on Friday. Citigroup upped their price target on Veeva Systems from $281.00 to $307.00 and gave the company a "buy" rating in a research note on Monday, December 9th. Finally, Guggenheim upped their target price on shares of Veeva Systems from $233.00 to $249.00 and gave the company a "buy" rating in a research note on Tuesday, October 1st. One analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $255.74.

Veeva Systems Stock Up 0.9 %

Shares of NYSE:VEEV traded up $1.92 during midday trading on Friday, hitting $216.67. The stock had a trading volume of 715,069 shares, compared to its average volume of 940,345. The company has a market cap of $35.18 billion, a P/E ratio of 53.50, a PEG ratio of 1.91 and a beta of 0.84. Veeva Systems Inc. has a 12 month low of $170.25 and a 12 month high of $258.93. The business's 50-day simple moving average is $222.31 and its 200-day simple moving average is $209.66.

Insider Activity at Veeva Systems

In other news, insider Thomas D. Schwenger sold 1,126 shares of the business's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.01, for a total value of $270,251.26. Following the completion of the sale, the insider now owns 27,013 shares of the company's stock, valued at approximately $6,483,390.13. The trade was a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 completion of the sale, the senior vice president now owns 8,061 shares of the company's stock, valued at $1,856,448.30. This trade represents a 17.37 % decrease in their position. The disclosure for this sale can be found here. 10.50% of the stock is currently owned by company 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.