Turning Point Benefit Group Inc. Makes New $393,000 Investment in Veeva Systems Inc. (NYSE:VEEV)

Turning Point Benefit Group Inc. purchased a new position in Veeva Systems Inc. (NYSE:VEEV) in the fourth quarter, HoldingsChannel reports. The firm purchased 1,848 shares of the technology company’s stock, valued at approximately $393,000.

Other hedge funds have also recently modified their holdings of the company. General American Investors Co. Inc. purchased a new position in shares of Veeva Systems in the third quarter worth $5,133,000. Toronto Dominion Bank lifted its holdings in shares of Veeva Systems by 39.1% in the third quarter. Toronto Dominion Bank now owns 20,180 shares of the technology company’s stock worth $4,235,000 after buying an additional 5,673 shares in the last quarter. Principal Financial Group Inc. lifted its holdings 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 worth $457,366,000 after buying an additional 1,267,061 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of Veeva Systems by 3.6% in the third quarter. Oppenheimer Asset Management Inc. now owns 78,000 shares of the technology company’s stock worth $16,370,000 after buying an additional 2,733 shares in the last quarter. Finally, Assetmark Inc. lifted its holdings in shares of Veeva Systems by 46.4% in the third quarter. Assetmark Inc. now owns 48,205 shares of the technology company’s stock worth $10,117,000 after buying an additional 15,289 shares in the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Trading Down 1.2 %

NYSE VEEV opened at $226.10 on Friday. The company’s 50-day moving average price is $223.81 and its 200-day moving average price is $217.11. The stock has a market cap of $36.71 billion, a PE ratio of 55.83, a PEG ratio of 1.89 and a beta of 0.85. Veeva Systems Inc. has a 12 month low of $170.25 and a 12 month high of $258.93.

Insider Transactions at Veeva Systems

In other news, SVP Jonathan Faddis sold 1,694 shares of the company’s 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 transaction, the senior vice president now directly owns 8,061 shares in the company, valued at approximately $1,856,448.30. This represents a 17.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 10.50% of the company’s stock.

Analyst Upgrades and Downgrades

VEEV has been the topic of a number of recent research reports. Morgan Stanley upped their price target on shares of Veeva Systems from $183.00 to $195.00 and gave the company an “underweight” rating in a research note on Tuesday, December 17th. The Goldman Sachs Group downgraded shares of Veeva Systems from a “buy” rating to a “sell” rating and decreased their price target for the company from $261.00 to $200.00 in a research note on Thursday, January 23rd. Scotiabank upped their price target on shares of Veeva Systems from $235.00 to $240.00 and gave the company a “sector perform” rating in a research note on Friday, December 6th. Truist Financial decreased their price target on shares of Veeva Systems from $261.00 to $210.00 and set a “hold” rating on the stock in a research note on Monday, January 13th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $270.00 price target on shares of Veeva Systems in a research note on Friday, January 17th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.