FFT Wealth Management LLC Invests $223,000 in Veeva Systems Inc. (NYSE:VEEV)

FFT Wealth Management LLC bought a new stake in Veeva Systems Inc. (NYSE:VEEV) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,059 shares of the technology company’s stock, valued at approximately $223,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. MassMutual Private Wealth & Trust FSB lifted its position 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 worth $25,000 after purchasing an additional 50 shares during the last quarter. Centricity Wealth Management LLC acquired a new stake in shares of Veeva Systems in the fourth quarter valued at approximately $25,000. True Wealth Design LLC boosted its stake in Veeva Systems by 3,375.0% during the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock worth $29,000 after purchasing an additional 135 shares during the period. Avion Wealth grew its holdings in shares of Veeva Systems by 635.0% during the fourth quarter. Avion Wealth now owns 147 shares of the technology company’s stock worth $30,000 after buying an additional 127 shares during the last quarter. Finally, Retirement Wealth Solutions LLC purchased a new position in shares of Veeva Systems in the 4th quarter valued at approximately $31,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Price Performance

NYSE:VEEV opened at $227.64 on Thursday. Veeva Systems Inc. has a 1-year low of $170.25 and a 1-year high of $258.93. The firm has a 50-day moving average of $223.82 and a two-hundred day moving average of $218.46. The stock has a market cap of $36.96 billion, a P/E ratio of 56.21, a PEG ratio of 1.89 and a beta of 0.85.

Insider Activity

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total transaction of $390,128.20. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 10.50% of the company’s stock.

Wall Street Analysts Forecast Growth

VEEV has been the topic of several analyst reports. Wells Fargo & Company lifted their target price on shares of Veeva Systems from $275.00 to $285.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Citigroup upped their target price on Veeva Systems from $281.00 to $307.00 and gave the company a “buy” rating in a report on Monday, December 9th. Scotiabank raised 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. Stephens initiated coverage on Veeva Systems in a research report on Friday, December 20th. They set an “overweight” rating and a $280.00 price objective for the company. Finally, Bank of America lifted their target price on shares of Veeva Systems from $280.00 to $290.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $255.08.

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.