Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Biondo Investment Advisors LLC

Biondo Investment Advisors LLC cut its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 33.8% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,075 shares of the technology company’s stock after selling 550 shares during the period. Biondo Investment Advisors LLC’s holdings in Veeva Systems were worth $226,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. MassMutual Private Wealth & Trust FSB boosted its stake 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 purchasing an additional 50 shares during the period. Centricity Wealth Management LLC acquired a new position in Veeva Systems in the 4th quarter worth $25,000. Smithfield Trust Co boosted its position in Veeva Systems by 145.5% in the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock valued at $27,000 after buying an additional 80 shares during the last quarter. True Wealth Design LLC increased its position in shares of Veeva Systems by 3,375.0% during the third quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock worth $29,000 after acquiring an additional 135 shares during the last quarter. Finally, Avion Wealth lifted its stake in shares of Veeva Systems by 635.0% in the fourth quarter. Avion Wealth now owns 147 shares of the technology company’s stock worth $30,000 after acquiring an additional 127 shares in the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Analysts Set New Price Targets

VEEV has been the topic of several analyst reports. Barclays lifted their price objective on Veeva Systems from $260.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Citigroup upped their price objective on Veeva Systems from $281.00 to $307.00 and gave the company a “buy” rating in a research note on Monday, December 9th. JPMorgan Chase & Co. boosted their target price on shares of Veeva Systems from $218.00 to $249.00 and gave the company a “neutral” rating in a research note on Thursday, March 20th. Evercore ISI increased their target price on Veeva Systems from $220.00 to $245.00 and gave the stock an “in-line” rating in a research report on Friday, December 6th. Finally, Mizuho assumed coverage on Veeva Systems in a research report on Wednesday, December 4th. They set an “outperform” rating and a $275.00 price objective for the company. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, Veeva Systems presently has an average rating of “Moderate Buy” and a consensus price target of $256.52.

Veeva Systems Stock Down 1.4 %

Shares of NYSE:VEEV opened at $234.10 on Friday. Veeva Systems Inc. has a 12-month low of $170.25 and a 12-month high of $258.93. The company’s 50 day moving average price is $231.62 and its two-hundred day moving average price is $222.87. The firm has a market cap of $38.01 billion, a PE ratio of 57.80, a PEG ratio of 1.89 and a beta of 0.88.

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.