AFT Forsyth & Company Inc. Has $283,000 Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

AFT Forsyth & Company Inc. trimmed its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 6.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,344 shares of the technology company’s stock after selling 100 shares during the quarter. AFT Forsyth & Company Inc.’s holdings in Veeva Systems were worth $283,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Fiera Capital Corp increased its holdings in Veeva Systems by 11.9% in the fourth quarter. Fiera Capital Corp now owns 357,767 shares of the technology company’s stock worth $75,221,000 after purchasing an additional 38,037 shares in the last quarter. Van ECK Associates Corp grew its stake in Veeva Systems by 6.8% in the fourth quarter. Van ECK Associates Corp now owns 2,130,498 shares of the technology company’s stock valued at $447,937,000 after acquiring an additional 135,492 shares during the period. Avion Wealth grew its stake in Veeva Systems by 635.0% in the fourth quarter. Avion Wealth now owns 147 shares of the technology company’s stock valued at $30,000 after acquiring an additional 127 shares during the period. Marks Group Wealth Management Inc grew its stake in Veeva Systems by 5.9% in the fourth quarter. Marks Group Wealth Management Inc now owns 1,381 shares of the technology company’s stock valued at $290,000 after acquiring an additional 77 shares during the period. Finally, Davidson Capital Management Inc. boosted its position in shares of Veeva Systems by 4.8% during the fourth quarter. Davidson Capital Management Inc. now owns 15,035 shares of the technology company’s stock valued at $3,161,000 after buying an additional 691 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

VEEV has been the topic of several analyst reports. Canaccord Genuity Group lifted their target price on Veeva Systems from $210.00 to $270.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Bank of America boosted their price objective on Veeva Systems from $280.00 to $290.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Stifel Nicolaus boosted their price objective on Veeva Systems from $240.00 to $272.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. The Goldman Sachs Group cut 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 research report on Thursday, January 23rd. Finally, Morgan Stanley boosted their price objective on Veeva Systems from $183.00 to $195.00 and gave the stock an “underweight” rating in a research report on Tuesday, December 17th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, Veeva Systems has a consensus rating of “Moderate Buy” and a consensus target price of $253.96.

Veeva Systems Stock Performance

NYSE:VEEV opened at $233.26 on Thursday. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93. The firm has a market cap of $37.87 billion, a price-to-earnings ratio of 57.60, a PEG ratio of 1.97 and a beta of 0.85. The business’s fifty day moving average is $224.84 and its 200 day moving average is $215.41.

Insiders Place Their Bets

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was 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. This represents a 17.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate 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.