Lyell Wealth Management LP Has $11.25 Million Position in Veeva Systems Inc. (NYSE:VEEV)

Lyell Wealth Management LP reduced its stake in Veeva Systems Inc. (NYSE:VEEV) by 0.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 53,526 shares of the technology company’s stock after selling 133 shares during the period. Lyell Wealth Management LP’s holdings in Veeva Systems were worth $11,254,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB boosted its position in shares of Veeva Systems by 72.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock valued at $25,000 after acquiring an additional 50 shares during the period. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Veeva Systems in the third quarter valued at about $26,000. True Wealth Design LLC boosted its position in shares of 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 period. Avion Wealth boosted its position in shares of 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. Finally, Retirement Wealth Solutions LLC bought a new stake in shares of Veeva Systems in the fourth quarter valued at about $31,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Evercore ISI boosted their target price on shares of Veeva Systems from $220.00 to $245.00 and gave the company an “in-line” rating in a research report on Friday, December 6th. The Goldman Sachs Group cut shares of 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. Royal Bank of Canada upped their price objective on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Robert W. Baird upped their price objective 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. Finally, Morgan Stanley upped their price objective on shares of Veeva Systems from $183.00 to $195.00 and gave the stock an “underweight” rating in a research report on Tuesday, December 17th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, Veeva Systems currently has a consensus rating of “Moderate Buy” and an average price target of $253.96.

Veeva Systems Stock Performance

NYSE:VEEV opened at $233.06 on Wednesday. The company has a market capitalization of $37.84 billion, a PE ratio of 57.54, a P/E/G ratio of 1.93 and a beta of 0.85. The company has a 50 day simple moving average of $224.24 and a two-hundred day simple moving average of $216.60. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93.

Insider Buying and Selling at Veeva Systems

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 shares were 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 approximately $1,856,448.30. This represents a 17.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 10.50% of the company’s stock.

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.