Triangle Securities Wealth Management Has $905,000 Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Triangle Securities Wealth Management trimmed its holdings in Veeva Systems Inc. (NYSE:VEEV – Get Rating) by 1.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,608 shares of the technology company’s stock after selling 72 shares during the period. Triangle Securities Wealth Management’s holdings in Veeva Systems were worth $905,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CI Investments Inc. increased its stake in shares of Veeva Systems by 964.7% during the third quarter. CI Investments Inc. now owns 181 shares of the technology company’s stock valued at $30,000 after buying an additional 164 shares during the period. City Holding Co. purchased a new position in Veeva Systems in the third quarter worth about $34,000. Western Pacific Wealth Management LP increased its holdings in Veeva Systems by 11,200.0% in the 3rd quarter. Western Pacific Wealth Management LP now owns 226 shares of the technology company’s stock worth $37,000 after buying an additional 224 shares in the last quarter. Duncker Streett & Co. Inc. bought a new position in Veeva Systems in the third quarter valued at about $42,000. Finally, Global Wealth Management Investment Advisory Inc. grew its holdings in Veeva Systems by 63.9% during the first quarter. Global Wealth Management Investment Advisory Inc. now owns 218 shares of the technology company’s stock valued at $46,000 after purchasing an additional 85 shares during the period. 78.76% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems Trading Down 1.8 %

NYSE:VEEV traded down $3.15 during mid-day trading on Friday, hitting $172.63. The company’s stock had a trading volume of 1,182,090 shares, compared to its average volume of 1,027,794. The stock has a fifty day moving average of $169.92 and a 200-day moving average of $170.46. The company has a market capitalization of $26.88 billion, a price-to-earnings ratio of 57.35, a P/E/G ratio of 3.98 and a beta of 0.90. Veeva Systems Inc. has a fifty-two week low of $151.02 and a fifty-two week high of $232.26.

Analysts Set New Price Targets

A number of brokerages recently issued reports on VEEV. Piper Sandler raised their price target on Veeva Systems from $204.00 to $212.00 in a research report on Thursday, March 2nd. UBS Group dropped their target price on Veeva Systems from $200.00 to $190.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 20th. Robert W. Baird decreased their price objective on shares of Veeva Systems from $233.00 to $223.00 and set an “outperform” rating for the company in a research report on Monday, February 27th. Needham & Company LLC restated a “buy” rating and issued a $220.00 price objective on shares of Veeva Systems in a report on Thursday, March 2nd. Finally, Raymond James cut their price target on shares of Veeva Systems from $215.00 to $200.00 and set an “outperform” rating for the company in a report on Tuesday, January 17th. Twelve analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Veeva Systems has an average rating of “Moderate Buy” and an average price target of $204.39.

Insider Buying and Selling

In other news, Director Matthew J. Wallach sold 10,000 shares of the stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $159.80, for a total transaction of $1,598,000.00. Following the sale, the director now owns 2,846 shares in the company, valued at $454,790.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Veeva Systems news, Director Matthew J. Wallach sold 10,000 shares of the stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $159.80, for a total value of $1,598,000.00. Following the transaction, the director now directly owns 2,846 shares in the company, valued at approximately $454,790.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Timothy S. Cabral sold 4,500 shares of the business’s stock in a transaction on Thursday, January 12th. The stock was sold at an average price of $162.29, for a total value of $730,305.00. Following the sale, the director now owns 1,214 shares of the company’s stock, valued at approximately $197,020.06. The disclosure for this sale can be found here. Insiders sold 97,224 shares of company stock worth $16,003,460 in the last quarter. 13.23% of the stock is owned by corporate insiders.

Veeva Systems Profile

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Veeva Systems, Inc engages in the provision of industry cloud solutions for the global life sciences industry. Its solutions enable pharmaceutical and other life sciences companies to realize the benefits of modern cloud-based architectures and mobile applications for their most critical business functions, without compromising industry-specific functionality or regulatory compliance.