Parkside Financial Bank & Trust Grows Holdings in Veeva Systems Inc. (NYSE:VEEV)

Parkside Financial Bank & Trust lifted its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 109.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 289 shares of the technology company’s stock after buying an additional 151 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Veeva Systems were worth $61,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. MassMutual Private Wealth & Trust FSB raised its stake in Veeva Systems by 72.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock valued at $25,000 after buying an additional 50 shares in the last quarter. Centricity Wealth Management LLC bought a new stake in shares of Veeva Systems in the 4th quarter valued at approximately $25,000. True Wealth Design LLC increased its holdings in shares of Veeva Systems by 3,375.0% in the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock valued at $29,000 after acquiring an additional 135 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new stake in shares of Veeva Systems during the 4th quarter valued at approximately $31,000. Finally, Avion Wealth lifted its stake in Veeva Systems by 635.0% during the fourth quarter. Avion Wealth now owns 147 shares of the technology company’s stock worth $30,000 after purchasing an additional 127 shares during the last quarter. Institutional investors own 88.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on VEEV. Bank of America boosted their target price on shares of Veeva Systems from $280.00 to $290.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Citigroup boosted their price objective on shares of Veeva Systems from $281.00 to $307.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Stephens started coverage on shares of Veeva Systems in a report on Friday, December 20th. They issued an “overweight” rating and a $280.00 target price on the stock. JPMorgan Chase & Co. upped their target price on Veeva Systems from $208.00 to $218.00 and gave the company a “neutral” rating in a report on Monday, December 16th. Finally, Royal Bank of Canada raised their price target on Veeva Systems from $275.00 to $285.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $255.08.

Veeva Systems Trading Down 2.2 %

Shares of Veeva Systems stock opened at $219.28 on Tuesday. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93. The stock has a market cap of $35.60 billion, a PE ratio of 54.14, a price-to-earnings-growth ratio of 1.89 and a beta of 0.85. The company’s 50-day moving average price is $223.74 and its two-hundred day moving average price is $219.35.

Insider Transactions at Veeva Systems

In related news, SVP Jonathan Faddis sold 1,694 shares of the firm’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 8,061 shares in the company, valued at approximately $1,856,448.30. This trade represents a 17.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 10.50% of the company’s stock.

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.