JFG Wealth Management LLC Invests $427,000 in Veeva Systems Inc. (NYSE:VEEV)

JFG Wealth Management LLC bought a new position in shares of Veeva Systems Inc. (NYSE:VEEV) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 2,032 shares of the technology company’s stock, valued at approximately $427,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of VEEV. MassMutual Private Wealth & Trust FSB lifted its position 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 valued at $25,000 after buying an additional 50 shares in the last quarter. Centricity Wealth Management LLC purchased a new position in shares of Veeva Systems in the 4th quarter valued at $25,000. True Wealth Design LLC lifted its holdings in shares of Veeva Systems by 3,375.0% during the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock valued at $29,000 after acquiring an additional 135 shares in the last quarter. Avion Wealth increased its holdings in Veeva Systems by 635.0% in the 4th quarter. Avion Wealth now owns 147 shares of the technology company’s stock valued at $30,000 after purchasing an additional 127 shares in the last quarter. Finally, Retirement Wealth Solutions LLC purchased a new position in Veeva Systems in the fourth quarter valued at about $31,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Analysts Set New Price Targets

VEEV has been the topic of a number of recent research reports. Needham & Company LLC restated a “buy” rating and set a $270.00 price objective on shares of Veeva Systems in a research note on Friday, January 17th. The Goldman Sachs Group downgraded Veeva Systems from a “buy” rating to a “sell” rating and dropped their target price for the company from $261.00 to $200.00 in a report on Thursday, January 23rd. Barclays increased their price objective on shares of Veeva Systems from $260.00 to $275.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Mizuho started coverage on shares of Veeva Systems in a research report on Wednesday, December 4th. They set an “outperform” rating and a $275.00 target price on the stock. Finally, Citigroup upped their target price on shares of Veeva Systems from $281.00 to $307.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $255.08.

Insider Buying and Selling

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of Veeva Systems stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total value of $390,128.20. Following the completion of the transaction, the senior vice president now directly owns 8,061 shares in the company, valued at $1,856,448.30. The trade was a 17.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 10.50% of the stock is owned by company insiders.

Veeva Systems Stock Performance

Veeva Systems stock opened at $221.53 on Wednesday. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93. The firm’s 50-day moving average is $223.69 and its 200-day moving average is $218.40. The company has a market cap of $35.97 billion, a P/E ratio of 54.70, a PEG ratio of 1.89 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.