Veeva Systems Inc. (NYSE:VEEV) Shares Bought by Patriot Financial Group Insurance Agency LLC

Patriot Financial Group Insurance Agency LLC raised its position in Veeva Systems Inc. (NYSE:VEEV) by 0.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,975 shares of the technology company’s stock after buying an additional 51 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Veeva Systems were worth $1,467,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of VEEV. Massachusetts Financial Services Co. MA lifted its holdings in Veeva Systems by 64.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company’s stock valued at $744,084,000 after purchasing an additional 1,392,256 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Veeva Systems by 138.9% in the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock valued at $457,366,000 after buying an additional 1,267,061 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Veeva Systems by 73.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company’s stock worth $536,972,000 after acquiring an additional 1,081,501 shares in the last quarter. FMR LLC grew its position in Veeva Systems by 25.7% in the 3rd quarter. FMR LLC now owns 2,981,244 shares of the technology company’s stock valued at $625,674,000 after acquiring an additional 610,021 shares in the last quarter. Finally, Seilern Investment Management Ltd acquired a new stake in shares of Veeva Systems during the fourth quarter worth about $94,957,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems Stock Performance

Shares of NYSE:VEEV opened at $226.48 on Tuesday. The company’s fifty day moving average is $221.63 and its two-hundred day moving average is $211.29. Veeva Systems Inc. has a 1-year low of $170.25 and a 1-year high of $258.93. The stock has a market capitalization of $36.77 billion, a price-to-earnings ratio of 55.90, a price-to-earnings-growth ratio of 2.01 and a beta of 0.84.

Insider Buying and Selling at Veeva Systems

In other news, SVP Jonathan Faddis sold 1,694 shares of Veeva Systems stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total value of $390,128.20. Following the transaction, the senior vice president now directly owns 8,061 shares of the company’s stock, valued at $1,856,448.30. This trade represents a 17.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Thomas D. Schwenger sold 1,126 shares of Veeva Systems stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.01, for a total value of $270,251.26. Following the sale, the insider now owns 27,013 shares of the company’s stock, valued at approximately $6,483,390.13. This represents a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. BNP Paribas assumed coverage on shares of Veeva Systems in a report on Tuesday, October 8th. They issued an “outperform” rating and a $286.00 price objective for the company. JPMorgan Chase & Co. boosted their price target on shares of Veeva Systems from $208.00 to $218.00 and gave the stock a “neutral” rating in a research note on Monday, December 16th. Mizuho began coverage on Veeva Systems in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $275.00 price objective on the stock. Canaccord Genuity Group boosted their target price on Veeva Systems from $210.00 to $270.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Finally, The Goldman Sachs Group lowered Veeva Systems from a “buy” rating to a “sell” rating and reduced their price target for the company from $261.00 to $200.00 in a research report on Thursday, January 23rd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, Veeva Systems presently has a consensus rating of “Moderate Buy” and an average target price of $253.96.

Veeva Systems Company 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.