Avantax Advisory Services Inc. Has $1.78 Million Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Avantax Advisory Services Inc. decreased its position in Veeva Systems Inc. (NYSE:VEEV) by 3.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,473 shares of the technology company’s stock after selling 276 shares during the period. Avantax Advisory Services Inc.’s holdings in Veeva Systems were worth $1,781,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. MassMutual Private Wealth & Trust FSB lifted its holdings in Veeva Systems by 72.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock worth $25,000 after acquiring an additional 50 shares in the last quarter. Centricity Wealth Management LLC bought a new position in shares of Veeva Systems during the 4th quarter valued at about $25,000. Smithfield Trust Co lifted its holdings in shares of Veeva Systems by 145.5% during the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock valued at $27,000 after purchasing an additional 80 shares in the last quarter. True Wealth Design LLC grew its position in shares of Veeva Systems by 3,375.0% in the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock valued at $29,000 after purchasing an additional 135 shares during the period. Finally, Avion Wealth increased its stake in Veeva Systems by 635.0% during the 4th quarter. Avion Wealth now owns 147 shares of the technology company’s stock worth $30,000 after purchasing an additional 127 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on VEEV. Mizuho initiated coverage on shares of Veeva Systems in a report on Wednesday, December 4th. They issued an “outperform” rating and a $275.00 price target for the company. Royal Bank of Canada upped their target price on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. The Goldman Sachs Group downgraded Veeva Systems from a “buy” rating to a “sell” rating and dropped their price target for the company from $261.00 to $200.00 in a research note on Thursday, January 23rd. Canaccord Genuity Group upped their price objective on Veeva Systems from $210.00 to $270.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Finally, Barclays lifted their target price on Veeva Systems from $260.00 to $275.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $255.28.

Veeva Systems Price Performance

VEEV stock opened at $236.93 on Tuesday. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93. The stock has a market cap of $38.47 billion, a price-to-earnings ratio of 58.50, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88. The company has a fifty day moving average price of $227.61 and a two-hundred day moving average price of $221.69.

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.