Gateway Investment Advisers LLC Has $7.76 Million Position in Veeva Systems Inc. (NYSE:VEEV)

Gateway Investment Advisers LLC trimmed its holdings in Veeva Systems Inc. (NYSE:VEEV) by 1.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 36,890 shares of the technology company’s stock after selling 638 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Veeva Systems were worth $7,756,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in VEEV. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of Veeva Systems in the 3rd quarter valued at $26,000. True Wealth Design LLC lifted its position in shares of Veeva Systems by 3,375.0% in the third quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock worth $29,000 after buying an additional 135 shares during the last quarter. Fairscale Capital LLC bought a new stake in shares of Veeva Systems during the 2nd quarter worth about $46,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Veeva Systems during the 3rd quarter valued at about $49,000. Finally, Quent Capital LLC raised its stake in shares of Veeva Systems by 794.1% in the 3rd quarter. Quent Capital LLC now owns 304 shares of the technology company’s stock valued at $64,000 after acquiring an additional 270 shares in the last quarter. 88.20% of the stock is owned by institutional investors.

Insider Transactions at Veeva Systems

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of the firm’s 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 completion of the sale, the insider now owns 27,013 shares in the company, valued at approximately $6,483,390.13. This trade represents a 4.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Jonathan Faddis sold 1,694 shares of the 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 sale, the senior vice president now directly owns 8,061 shares in the company, valued at $1,856,448.30. This trade represents a 17.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 10.50% of the company’s stock.

Veeva Systems Stock Performance

VEEV opened at $214.70 on Friday. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93. The firm has a market cap of $34.86 billion, a price-to-earnings ratio of 53.01, a PEG ratio of 1.91 and a beta of 0.84. The firm’s 50-day simple moving average is $222.85 and its 200-day simple moving average is $209.19.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on VEEV shares. Scotiabank upped their target price on Veeva Systems from $235.00 to $240.00 and gave the stock a “sector perform” rating in a research report on Friday, December 6th. Mizuho assumed coverage on shares of Veeva Systems in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $275.00 target price on the stock. Guggenheim boosted their target price on shares of Veeva Systems from $233.00 to $249.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Bank of America upped their price target on shares of Veeva Systems from $280.00 to $290.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Finally, Morgan Stanley lifted their price objective on Veeva Systems from $183.00 to $195.00 and gave the stock an “underweight” rating in a research note on Tuesday, December 17th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $255.74.

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.