Baker Tilly Wealth Management LLC Acquires 278 Shares of Veeva Systems Inc. (NYSE:VEEV)

Baker Tilly Wealth Management LLC grew its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 22.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,510 shares of the technology company’s stock after acquiring an additional 278 shares during the period. Baker Tilly Wealth Management LLC’s holdings in Veeva Systems were worth $317,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Veeva Systems during the 3rd quarter valued at approximately $26,000. True Wealth Design LLC boosted its stake 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 last quarter. Fairscale Capital LLC acquired a new stake in shares of Veeva Systems during the second quarter worth $46,000. Harvest Fund Management Co. Ltd bought a new position in Veeva Systems during the third quarter worth $49,000. Finally, Quent Capital LLC raised its stake in Veeva Systems by 794.1% during the third quarter. Quent Capital LLC now owns 304 shares of the technology company’s stock worth $64,000 after buying an additional 270 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insiders Place Their Bets

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of Veeva Systems stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total value of $390,128.20. Following the sale, the senior vice president now owns 8,061 shares of the company’s stock, valued at approximately $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 accessible through this link. Also, insider Thomas D. Schwenger sold 1,126 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.01, for a total transaction of $270,251.26. Following the completion of the transaction, the insider now owns 27,013 shares in the company, valued at approximately $6,483,390.13. The trade was a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 10.50% of the company’s stock.

Veeva Systems Stock Performance

Veeva Systems stock opened at $218.08 on Friday. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93. The firm’s 50-day simple moving average is $222.97 and its 200 day simple moving average is $208.45. The stock has a market cap of $35.41 billion, a PE ratio of 53.85, a price-to-earnings-growth ratio of 2.03 and a beta of 0.84.

Analyst Ratings Changes

A number of analysts have weighed in on the company. KeyCorp decreased their price target on Veeva Systems from $285.00 to $255.00 and set an “overweight” rating for the company in a report on Wednesday. Mizuho assumed coverage on Veeva Systems in a research note on Wednesday, December 4th. They set an “outperform” rating and a $275.00 target price for the company. Canaccord Genuity Group boosted their price target on Veeva Systems from $210.00 to $270.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Bank of America raised their price objective on shares of Veeva Systems from $280.00 to $290.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Finally, Wells Fargo & Company lifted their price objective on shares of Veeva Systems from $275.00 to $285.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat, Veeva Systems has a consensus rating of “Moderate Buy” and a consensus price target of $257.63.

About Veeva Systems

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.