Veeva Systems Inc. (NYSE:VEEV) Stock Holdings Lowered by Hartline Investment Corp

Hartline Investment Corp reduced its position in Veeva Systems Inc. (NYSE:VEEV) by 3.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,786 shares of the technology company’s stock after selling 320 shares during the period. Hartline Investment Corp’s holdings in Veeva Systems were worth $1,637,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Wingate Wealth Advisors Inc. purchased a new position in shares of Veeva Systems in the fourth quarter worth approximately $59,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in shares of Veeva Systems by 9.2% in the fourth quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 528,568 shares of the technology company’s stock worth $119,335,000 after acquiring an additional 44,382 shares in the last quarter. 17 Capital Partners LLC increased its position in shares of Veeva Systems by 9.5% in the fourth quarter. 17 Capital Partners LLC now owns 1,783 shares of the technology company’s stock worth $375,000 after acquiring an additional 155 shares in the last quarter. Kestra Private Wealth Services LLC increased its position in shares of Veeva Systems by 66.0% in the fourth quarter. Kestra Private Wealth Services LLC now owns 4,109 shares of the technology company’s stock worth $864,000 after acquiring an additional 1,634 shares in the last quarter. Finally, Empowered Funds LLC increased its position in shares of Veeva Systems by 2.3% in the fourth quarter. Empowered Funds LLC now owns 4,265 shares of the technology company’s stock worth $897,000 after acquiring an additional 95 shares in the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on VEEV. Morgan Stanley lifted their target price 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. Bank of America boosted their price objective on shares of Veeva Systems from $280.00 to $290.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Evercore ISI boosted their price objective 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. Canaccord Genuity Group boosted their price objective on shares of Veeva Systems from $210.00 to $270.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Finally, The Goldman Sachs Group downgraded shares of Veeva Systems from a “buy” rating to a “sell” rating and lowered their price objective for the company from $261.00 to $200.00 in a research report on Thursday, January 23rd. Two equities research 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $253.96.

Insider Buying and Selling at Veeva Systems

In other news, SVP Jonathan Faddis sold 1,694 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 8,061 shares of the company’s stock, valued at approximately $1,856,448.30. This trade represents a 17.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 10.50% of the company’s stock.

Veeva Systems Trading Up 0.1 %

NYSE:VEEV opened at $237.38 on Tuesday. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93. The firm’s fifty day simple moving average is $224.48 and its 200 day simple moving average is $214.76. The firm has a market capitalization of $38.54 billion, a PE ratio of 58.61, a PEG ratio of 1.97 and a beta of 0.85.

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.