Wealth Enhancement Advisory Services LLC increased its holdings in Veeva Systems Inc. (NYSE:VEEV – Free Report) by 0.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,308 shares of the technology company’s stock after purchasing an additional 68 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Veeva Systems were worth $3,003,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Patriot Financial Group Insurance Agency LLC raised its holdings in shares of Veeva Systems by 0.7% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 6,924 shares of the technology company’s stock worth $1,453,000 after buying an additional 48 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its position in Veeva Systems by 1.2% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,307 shares of the technology company’s stock valued at $904,000 after acquiring an additional 50 shares during the last quarter. Clearbridge Investments LLC increased its stake in Veeva Systems by 0.4% in the second quarter. Clearbridge Investments LLC now owns 11,682 shares of the technology company’s stock worth $2,138,000 after purchasing an additional 52 shares during the period. Park Place Capital Corp lifted its position in shares of Veeva Systems by 11.5% during the third quarter. Park Place Capital Corp now owns 574 shares of the technology company’s stock worth $120,000 after purchasing an additional 59 shares during the last quarter. Finally, Quintet Private Bank Europe S.A. boosted its stake in shares of Veeva Systems by 13.4% during the third quarter. Quintet Private Bank Europe S.A. now owns 516 shares of the technology company’s stock valued at $108,000 after purchasing an additional 61 shares during the period. 88.20% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several equities research analysts have issued reports on VEEV shares. Royal Bank of Canada boosted their price objective on shares of Veeva Systems from $275.00 to $285.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. StockNews.com raised Veeva Systems from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Robert W. Baird lifted their target price on Veeva Systems from $275.00 to $283.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Stephens assumed coverage on Veeva Systems in a research report on Friday, December 20th. They set an “overweight” rating and a $280.00 price target on the stock. Finally, Needham & Company LLC lifted their price objective on Veeva Systems from $260.00 to $270.00 and gave the company a “buy” rating in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $255.74.
Veeva Systems Stock Down 1.0 %
VEEV opened at $210.81 on Wednesday. The company has a market cap of $34.23 billion, a P/E ratio of 52.05, a price-to-earnings-growth ratio of 2.03 and a beta of 0.84. The firm’s 50-day moving average price is $222.94 and its 200-day moving average price is $209.17. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93.
Insiders Place Their Bets
In related news, insider Thomas D. Schwenger sold 1,126 shares of Veeva Systems stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $240.01, for a total transaction of $270,251.26. Following the completion of the sale, the insider now owns 27,013 shares of the company’s stock, valued at $6,483,390.13. The trade was a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Jonathan Faddis sold 1,694 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total transaction of $390,128.20. Following the completion of the transaction, the senior vice president now owns 8,061 shares in the company, valued at approximately $1,856,448.30. This trade represents a 17.37 % decrease in their position. The disclosure for this sale can be found here. 10.50% of the stock is owned by insiders.
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.
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