B. Riley Wealth Advisors Inc. Cuts Holdings in Veeva Systems Inc. (NYSE:VEEV)

B. Riley Wealth Advisors Inc. lessened its stake in Veeva Systems Inc. (NYSE:VEEV) by 8.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,614 shares of the technology company’s stock after selling 226 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Veeva Systems were worth $543,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Patriot Financial Group Insurance Agency LLC grew its holdings in Veeva Systems by 0.7% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 6,924 shares of the technology company’s stock worth $1,453,000 after acquiring an additional 48 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its holdings in Veeva Systems by 1.2% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,307 shares of the technology company’s stock worth $904,000 after buying an additional 50 shares during the last quarter. Clearbridge Investments LLC boosted its position in shares of Veeva Systems by 0.4% during the 2nd quarter. Clearbridge Investments LLC now owns 11,682 shares of the technology company’s stock worth $2,138,000 after acquiring an additional 52 shares in the last quarter. Park Place Capital Corp increased its holdings in shares of Veeva Systems by 11.5% in the 3rd quarter. Park Place Capital Corp now owns 574 shares of the technology company’s stock valued at $120,000 after acquiring an additional 59 shares during the last quarter. Finally, Quintet Private Bank Europe S.A. raised its position in shares of Veeva Systems by 13.4% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 516 shares of the technology company’s stock worth $108,000 after acquiring an additional 61 shares in the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Trading Down 0.8 %

Shares of VEEV opened at $219.67 on Friday. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93. The firm has a market capitalization of $35.66 billion, a P/E ratio of 54.24, a PEG ratio of 2.03 and a beta of 0.82. The firm’s 50-day moving average is $222.73 and its two-hundred day moving average is $204.84.

Insider Transactions at Veeva Systems

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of Veeva Systems stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.01, for a total transaction of $270,251.26. Following the completion of the transaction, the insider now owns 27,013 shares in the company, valued at approximately $6,483,390.13. The trade was a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Jonathan Faddis sold 1,694 shares of the company’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 sale, the senior vice president now directly owns 8,061 shares in the company, valued at $1,856,448.30. This trade represents a 17.37 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 10.50% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Needham & Company LLC upped their price target on Veeva Systems from $260.00 to $270.00 and gave the company a “buy” rating in a report on Friday, December 6th. Wells Fargo & Company upped their price objective on shares of Veeva Systems from $275.00 to $285.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Stifel Nicolaus lifted their target price on Veeva Systems from $240.00 to $272.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Morgan Stanley upped their target price on Veeva Systems from $183.00 to $195.00 and gave the company an “underweight” rating in a research report on Tuesday. Finally, Citigroup boosted 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. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $256.58.

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.