Facet Wealth Inc. Decreases Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Facet Wealth Inc. trimmed its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 10.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,310 shares of the technology company’s stock after selling 146 shares during the quarter. Facet Wealth Inc.’s holdings in Veeva Systems were worth $275,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Corient Private Wealth LLC increased its position in shares of Veeva Systems by 1,281.1% during the fourth quarter. Corient Private Wealth LLC now owns 188,591 shares of the technology company’s stock valued at $39,651,000 after acquiring an additional 174,936 shares during the last quarter. Centurion Wealth Management LLC increased its position in shares of Veeva Systems by 9.8% during the fourth quarter. Centurion Wealth Management LLC now owns 1,309 shares of the technology company’s stock valued at $275,000 after acquiring an additional 117 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of Veeva Systems by 28.2% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 37,641 shares of the technology company’s stock valued at $7,914,000 after acquiring an additional 8,280 shares during the last quarter. Natixis Advisors LLC grew its holdings in Veeva Systems by 2.9% during the fourth quarter. Natixis Advisors LLC now owns 108,803 shares of the technology company’s stock valued at $22,876,000 after purchasing an additional 3,077 shares during the period. Finally, Harrington Investments INC grew its holdings in Veeva Systems by 1.2% during the fourth quarter. Harrington Investments INC now owns 6,710 shares of the technology company’s stock valued at $1,411,000 after purchasing an additional 79 shares during the period. 88.20% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems Stock Performance

NYSE:VEEV opened at $233.84 on Friday. The firm has a market capitalization of $37.96 billion, a price-to-earnings ratio of 57.74, a P/E/G ratio of 1.89 and a beta of 0.88. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93. The stock has a fifty day moving average of $227.12 and a 200 day moving average of $221.39.

Analyst Ratings Changes

Several equities analysts have weighed in on VEEV shares. Stephens reissued an “overweight” rating and set a $280.00 price objective on shares of Veeva Systems in a report on Thursday, March 6th. Barclays increased their price objective on Veeva Systems from $260.00 to $275.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Morgan Stanley increased their price objective on Veeva Systems from $195.00 to $201.00 and gave the company an “underweight” rating in a report on Thursday, March 6th. Royal Bank of Canada increased their price objective on Veeva Systems from $275.00 to $285.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Finally, Citigroup increased their price objective on Veeva Systems from $281.00 to $307.00 and gave the company a “buy” rating in a report on Monday, December 9th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $255.28.

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.