Veeva Systems Inc. (NYSE:VEEV) Shares Bought by Valley National Advisers Inc.

Valley National Advisers Inc. grew its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 17.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,954 shares of the technology company’s stock after purchasing an additional 292 shares during the period. Valley National Advisers Inc.’s holdings in Veeva Systems were worth $410,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Clearbridge Investments LLC lifted its position 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. Sanctuary Advisors LLC bought a new stake in shares of Veeva Systems in the 2nd quarter worth $1,231,000. Centaurus Financial Inc. lifted its holdings in shares of Veeva Systems by 69.2% in the second quarter. Centaurus Financial Inc. now owns 1,042 shares of the technology company’s stock valued at $191,000 after buying an additional 426 shares during the period. SG Americas Securities LLC boosted its stake in Veeva Systems by 667.4% during the third quarter. SG Americas Securities LLC now owns 5,594 shares of the technology company’s stock valued at $1,174,000 after buying an additional 4,865 shares in the last quarter. Finally, Goelzer Investment Management Inc. bought a new position in Veeva Systems during the third quarter valued at about $1,508,000. 88.20% of the stock is currently owned by institutional investors.

Veeva Systems Trading Down 1.6 %

VEEV opened at $233.25 on Monday. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93. The stock has a fifty day moving average price of $223.55 and a 200 day moving average price of $212.71. The stock has a market cap of $37.87 billion, a price-to-earnings ratio of 57.59, a PEG ratio of 2.05 and a beta of 0.85.

Insider Activity

In other news, insider Thomas D. Schwenger sold 1,126 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.01, for a total value of $270,251.26. Following the completion of the sale, the insider now directly owns 27,013 shares in the company, valued at approximately $6,483,390.13. The trade was a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jonathan Faddis sold 1,694 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were 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 $1,856,448.30. The trade was a 17.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on VEEV shares. Stifel Nicolaus upped their price target on shares of Veeva Systems from $240.00 to $272.00 and gave the company a “buy” rating in a report on Friday, December 6th. StockNews.com lowered shares of Veeva Systems from a “buy” rating to a “hold” rating in a research note on Thursday, January 23rd. Citigroup raised their target price on shares of Veeva Systems from $281.00 to $307.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Wells Fargo & Company upped their price target on Veeva Systems from $275.00 to $285.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Finally, BNP Paribas initiated coverage on Veeva Systems in a research note on Tuesday, October 8th. They set an “outperform” rating and a $286.00 price objective for the company. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, Veeva Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $253.96.

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.