DF Dent & Co. Inc. Has $171.18 Million Stock Position in Veeva Systems Inc. (NYSE:VEEV)

DF Dent & Co. Inc. lowered its position in Veeva Systems Inc. (NYSE:VEEV) by 2.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 814,189 shares of the technology company’s stock after selling 20,378 shares during the period. Veeva Systems accounts for about 2.2% of DF Dent & Co. Inc.’s holdings, making the stock its 17th biggest position. DF Dent & Co. Inc. owned approximately 0.50% of Veeva Systems worth $171,183,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. ExodusPoint Capital Management LP lifted its stake in shares of Veeva Systems by 623.2% in the fourth quarter. ExodusPoint Capital Management LP now owns 132,557 shares of the technology company’s stock valued at $27,870,000 after buying an additional 114,227 shares in the last quarter. World Investment Advisors lifted its position in Veeva Systems by 9.5% in the 4th quarter. World Investment Advisors now owns 11,122 shares of the technology company’s stock valued at $2,338,000 after acquiring an additional 967 shares in the last quarter. Bryce Point Capital LLC acquired a new position in Veeva Systems during the 4th quarter valued at about $495,000. Huntington National Bank increased its holdings in Veeva Systems by 13.3% during the 4th quarter. Huntington National Bank now owns 1,766 shares of the technology company’s stock worth $371,000 after purchasing an additional 207 shares in the last quarter. Finally, Meeder Advisory Services Inc. increased its holdings in Veeva Systems by 32.5% during the 4th quarter. Meeder Advisory Services Inc. now owns 3,439 shares of the technology company’s stock worth $723,000 after purchasing an additional 843 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on VEEV. Morgan Stanley increased their price target on Veeva Systems from $195.00 to $201.00 and gave the company an “underweight” rating in a research report on Thursday, March 6th. Stephens reiterated an “overweight” rating and issued a $280.00 target price on shares of Veeva Systems in a report on Thursday, March 6th. Mizuho began coverage on shares of Veeva Systems in a report on Wednesday, December 4th. They set an “outperform” rating and a $275.00 price target on the stock. Barclays upped their price objective on shares of Veeva Systems from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Finally, Canaccord Genuity Group lifted their target price on shares of Veeva Systems from $210.00 to $270.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $256.52.

Insider Buying and Selling

In related news, SVP Jonathan Faddis sold 787 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total value of $178,019.40. Following the transaction, the senior vice president now directly owns 8,668 shares in the company, valued at approximately $1,960,701.60. This represents a 8.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 10.50% of the stock is currently owned by company insiders.

Veeva Systems Price Performance

Shares of NYSE:VEEV opened at $226.51 on Thursday. The firm has a fifty day moving average price of $231.96 and a two-hundred day moving average price of $223.04. The company has a market cap of $36.85 billion, a price-to-earnings ratio of 55.93, a PEG ratio of 1.89 and a beta of 0.88. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93.

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.