Kingsview Wealth Management LLC Has $1.76 Million Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Kingsview Wealth Management LLC lowered its holdings in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 21.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,360 shares of the technology company's stock after selling 2,239 shares during the period. Kingsview Wealth Management LLC's holdings in Veeva Systems were worth $1,758,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Brookstone Capital Management purchased a new stake in shares of Veeva Systems during the third quarter valued at approximately $203,000. CWM LLC boosted its holdings in Veeva Systems by 61.3% in the third quarter. CWM LLC now owns 6,770 shares of the technology company's stock worth $1,421,000 after purchasing an additional 2,574 shares during the period. CHICAGO TRUST Co NA boosted its holdings in Veeva Systems by 4.3% in the third quarter. CHICAGO TRUST Co NA now owns 1,827 shares of the technology company's stock worth $383,000 after purchasing an additional 75 shares during the period. Thomasville National Bank boosted its holdings in shares of Veeva Systems by 3.2% during the third quarter. Thomasville National Bank now owns 80,778 shares of the technology company's stock valued at $16,953,000 after acquiring an additional 2,501 shares during the period. Finally, Procyon Advisors LLC acquired a new position in shares of Veeva Systems during the third quarter valued at $712,000. Hedge funds and other institutional investors own 88.20% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Robert W. Baird boosted 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. The Goldman Sachs Group downgraded Veeva Systems from a "buy" rating to a "sell" rating and cut their price objective for the stock from $261.00 to $200.00 in a report on Thursday, January 23rd. Stephens began coverage on Veeva Systems in a research note on Friday, December 20th. They set an "overweight" rating and a $280.00 target price on the stock. Mizuho began coverage on Veeva Systems in a research note on Wednesday, December 4th. They issued an "outperform" rating and a $275.00 price target for the company. Finally, Stifel Nicolaus boosted their price target on Veeva Systems from $240.00 to $272.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Veeva Systems currently has an average rating of "Moderate Buy" and an average target price of $253.96.

Veeva Systems Stock Performance

Veeva Systems stock traded down $0.06 during midday trading on Friday, reaching $234.09. The stock had a trading volume of 853,426 shares, compared to its average volume of 983,671. The firm's fifty day simple moving average is $224.80 and its 200-day simple moving average is $215.67. Veeva Systems Inc. has a 1-year low of $170.25 and a 1-year high of $258.93. The stock has a market capitalization of $38.00 billion, a P/E ratio of 57.80, a price-to-earnings-growth ratio of 1.97 and a beta of 0.85.

Insider Transactions at Veeva Systems

In related news, SVP Jonathan Faddis sold 1,694 shares of the business's stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total value of $390,128.20. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 10.50% of the stock is currently owned by corporate insiders.

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.