Perigon Wealth Management LLC Increases Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Perigon Wealth Management LLC raised its stake in Veeva Systems Inc. (NYSE:VEEV – Get Rating) by 31.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,697 shares of the technology company’s stock after purchasing an additional 405 shares during the quarter. Perigon Wealth Management LLC’s holdings in Veeva Systems were worth $280,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of VEEV. MetLife Investment Management LLC purchased a new position in shares of Veeva Systems in the 1st quarter valued at approximately $1,906,000. Dimensional Fund Advisors LP boosted its stake in shares of Veeva Systems by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 190,289 shares of the technology company’s stock valued at $40,430,000 after buying an additional 3,286 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of Veeva Systems by 11.5% in the first quarter. Sequoia Financial Advisors LLC now owns 1,018 shares of the technology company’s stock valued at $216,000 after buying an additional 105 shares in the last quarter. National Pension Service boosted its stake in shares of Veeva Systems by 3.0% in the first quarter. National Pension Service now owns 195,170 shares of the technology company’s stock valued at $41,466,000 after buying an additional 5,607 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Veeva Systems by 1.0% in the first quarter. Vanguard Group Inc. now owns 12,888,204 shares of the technology company’s stock valued at $2,738,229,000 after buying an additional 132,560 shares in the last quarter. 78.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. KeyCorp decreased their price target on Veeva Systems from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Friday, March 3rd. Needham & Company LLC restated a “buy” rating and issued a $220.00 price target on shares of Veeva Systems in a research note on Thursday, March 2nd. Guggenheim downgraded Veeva Systems from a “buy” rating to a “neutral” rating in a research note on Thursday, February 23rd. Barclays reduced their price objective on Veeva Systems from $205.00 to $197.00 and set an “overweight” rating for the company in a report on Thursday, March 2nd. Finally, UBS Group reduced their price objective on Veeva Systems from $200.00 to $190.00 and set a “neutral” rating for the company in a report on Tuesday, December 20th. Twelve equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Veeva Systems presently has an average rating of “Moderate Buy” and a consensus price target of $204.39.

Insider Transactions at Veeva Systems

In related news, Director Paul Edward Chamberlain sold 160 shares of the company’s stock in a transaction on Friday, March 10th. The stock was sold at an average price of $169.42, for a total value of $27,107.20. Following the completion of the transaction, the director now directly owns 16,776 shares in the company, valued at $2,842,189.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Paul Edward Chamberlain sold 160 shares of the company’s stock in a transaction on Friday, March 10th. The stock was sold at an average price of $169.42, for a total value of $27,107.20. Following the completion of the transaction, the director now directly owns 16,776 shares in the company, valued at $2,842,189.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Peter P. Gassner sold 28,506 shares of the company’s stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $159.77, for a total value of $4,554,403.62. The disclosure for this sale can be found here. Insiders sold a total of 97,224 shares of company stock valued at $16,003,460 over the last three months. 13.23% of the stock is currently owned by insiders.

Veeva Systems Stock Down 1.8 %

NYSE VEEV opened at $172.63 on Friday. Veeva Systems Inc. has a fifty-two week low of $151.02 and a fifty-two week high of $232.26. The stock has a market cap of $26.88 billion, a price-to-earnings ratio of 57.35, a price-to-earnings-growth ratio of 3.92 and a beta of 0.90. The business has a fifty day moving average of $169.92 and a 200-day moving average of $170.24.

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.