Crestwood Advisors Group LLC Sells 110 Shares of Veeva Systems Inc. (NYSE:VEEV)

Crestwood Advisors Group LLC reduced its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 6.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,629 shares of the technology company’s stock after selling 110 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Veeva Systems were worth $342,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of VEEV. International Assets Investment Management LLC raised its holdings in Veeva Systems by 19,189.0% during the 3rd quarter. International Assets Investment Management LLC now owns 119,206 shares of the technology company’s stock valued at $25,018,000 after buying an additional 118,588 shares during the period. Hennion & Walsh Asset Management Inc. purchased a new stake in Veeva Systems in the third quarter worth $307,000. Forsta AP Fonden increased its stake in Veeva Systems by 10.4% in the third quarter. Forsta AP Fonden now owns 31,800 shares of the technology company’s stock worth $6,674,000 after purchasing an additional 3,000 shares during the period. Arkadios Wealth Advisors increased its stake in Veeva Systems by 15.3% in the third quarter. Arkadios Wealth Advisors now owns 3,054 shares of the technology company’s stock worth $641,000 after purchasing an additional 406 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Veeva Systems by 15.2% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 14,240 shares of the technology company’s stock worth $2,989,000 after purchasing an additional 1,877 shares during the period. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Performance

Shares of NYSE VEEV opened at $221.53 on Wednesday. The company has a market cap of $35.97 billion, a PE ratio of 54.70, a P/E/G ratio of 1.89 and a beta of 0.85. The business has a 50-day simple moving average of $223.69 and a two-hundred day simple moving average of $218.40. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93.

Insiders Place Their Bets

In related news, SVP Jonathan Faddis sold 1,694 shares of Veeva Systems stock in a transaction dated Wednesday, December 4th. The stock was 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 owns 8,061 shares of the company’s stock, valued at $1,856,448.30. The trade was a 17.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 10.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on VEEV shares. Stephens started coverage on Veeva Systems in a research note on Friday, December 20th. They issued an “overweight” rating and a $280.00 target price on the stock. JPMorgan Chase & Co. increased their target price on Veeva Systems from $208.00 to $218.00 and gave the stock a “neutral” rating in a research note on Monday, December 16th. StockNews.com upgraded Veeva Systems from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Evercore ISI raised their price target on Veeva Systems from $220.00 to $245.00 and gave the company an “in-line” rating in a research note on Friday, December 6th. Finally, Stifel Nicolaus raised their price target on Veeva Systems from $240.00 to $272.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $255.08.

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.