Wealth Enhancement Advisory Services LLC Has $7.57 Million Position in Veeva Systems Inc. $VEEV

Wealth Enhancement Advisory Services LLC increased its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 96.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,612 shares of the technology company’s stock after purchasing an additional 13,088 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Veeva Systems were worth $7,566,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Abound Financial LLC acquired a new stake in shares of Veeva Systems during the first quarter worth approximately $25,000. ORG Partners LLC acquired a new stake in Veeva Systems in the first quarter valued at approximately $26,000. Golden State Wealth Management LLC lifted its stake in Veeva Systems by 152.9% in the first quarter. Golden State Wealth Management LLC now owns 129 shares of the technology company’s stock valued at $30,000 after acquiring an additional 78 shares during the last quarter. Wayfinding Financial LLC acquired a new stake in Veeva Systems in the first quarter valued at approximately $32,000. Finally, Key Financial Inc lifted its stake in Veeva Systems by 161.0% in the first quarter. Key Financial Inc now owns 154 shares of the technology company’s stock valued at $36,000 after acquiring an additional 95 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

VEEV has been the subject of a number of analyst reports. Morgan Stanley lifted their target price on shares of Veeva Systems from $210.00 to $222.00 and gave the company an “underweight” rating in a research note on Thursday, August 28th. Piper Sandler lifted their price target on shares of Veeva Systems from $325.00 to $355.00 and gave the company an “overweight” rating in a research report on Thursday, August 28th. Needham & Company LLC lifted their price target on shares of Veeva Systems from $300.00 to $355.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. Barclays boosted their target price on shares of Veeva Systems from $300.00 to $325.00 and gave the stock an “overweight” rating in a research report on Thursday, August 28th. Finally, UBS Group boosted their target price on shares of Veeva Systems from $285.00 to $310.00 and gave the stock a “neutral” rating in a research report on Thursday, August 28th. Seventeen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Veeva Systems has an average rating of “Moderate Buy” and a consensus target price of $301.48.

Insider Activity

In related news, Director Priscilla Hung sold 172 shares of the company’s stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $283.00, for a total transaction of $48,676.00. Following the transaction, the director owned 4,137 shares in the company, valued at $1,170,771. This represents a 3.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jonathan Faddis sold 720 shares of the company’s stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $285.62, for a total transaction of $205,646.40. Following the transaction, the senior vice president owned 7,902 shares in the company, valued at approximately $2,256,969.24. This trade represents a 8.35% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,063 shares of company stock worth $302,955. 10.30% of the stock is owned by corporate insiders.

Veeva Systems Stock Performance

Shares of NYSE:VEEV opened at $278.75 on Wednesday. Veeva Systems Inc. has a 52 week low of $200.30 and a 52 week high of $296.72. The company’s fifty day moving average is $280.62 and its 200-day moving average is $259.78. The company has a market capitalization of $45.69 billion, a PE ratio of 57.24, a P/E/G ratio of 2.18 and a beta of 0.95.

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.