Kestra Private Wealth Services LLC Buys 1,634 Shares of Veeva Systems Inc. (NYSE:VEEV)

Kestra Private Wealth Services LLC boosted its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 66.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,109 shares of the technology company's stock after acquiring an additional 1,634 shares during the quarter. Kestra Private Wealth Services LLC's holdings in Veeva Systems were worth $864,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA lifted its stake in shares of Veeva Systems by 64.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company's stock valued at $744,084,000 after purchasing an additional 1,392,256 shares during the last quarter. State Street Corp raised its holdings in Veeva Systems by 1.5% during the third quarter. State Street Corp now owns 3,293,141 shares of the technology company's stock valued at $691,132,000 after buying an additional 47,872 shares in the last quarter. FMR LLC lifted its position in shares of Veeva Systems by 25.7% in the third quarter. FMR LLC now owns 2,981,244 shares of the technology company's stock worth $625,674,000 after buying an additional 610,021 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Veeva Systems by 5.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,765,236 shares of the technology company's stock worth $579,630,000 after acquiring an additional 149,807 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Veeva Systems by 73.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company's stock valued at $536,972,000 after acquiring an additional 1,081,501 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of the business's stock in a transaction dated 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 in the company, valued at $1,856,448.30. The trade was a 17.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 10.50% of the company's stock.

Veeva Systems Stock Performance

Shares of VEEV stock traded down $0.06 during trading hours on Monday, hitting $234.09. The company had a trading volume of 853,426 shares, compared to its average volume of 1,002,875. Veeva Systems Inc. has a 12 month low of $170.25 and a 12 month high of $258.93. The firm's fifty day moving average is $224.48 and its 200 day moving average is $216.29. The firm has a market capitalization of $38.00 billion, a price-to-earnings ratio of 57.80, a PEG ratio of 1.97 and a beta of 0.85.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on VEEV shares. Royal Bank of Canada boosted their target price on Veeva Systems from $275.00 to $285.00 and gave the stock an "outperform" rating in a report on Friday, December 6th. Scotiabank boosted their price objective on shares of Veeva Systems from $235.00 to $240.00 and gave the stock a "sector perform" rating in a research note on Friday, December 6th. KeyCorp lowered their target price on shares of Veeva Systems from $285.00 to $255.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 8th. Truist Financial cut their target price on shares of Veeva Systems from $261.00 to $210.00 and set a "hold" rating for the company in a research report on Monday, January 13th. Finally, Bank of America raised their price target on Veeva Systems from $280.00 to $290.00 and gave the company a "neutral" rating in a research report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued 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 $253.96.

About Veeva Systems

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.