Valley National Advisers Inc. Has $410,000 Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Valley National Advisers Inc. boosted its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 17.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,954 shares of the technology company’s stock after purchasing an additional 292 shares during the quarter. Valley National Advisers Inc.’s holdings in Veeva Systems were worth $410,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. General American Investors Co. Inc. bought a new stake in shares of Veeva Systems during the third quarter valued at approximately $5,133,000. Toronto Dominion Bank increased its holdings in Veeva Systems by 39.1% in the 3rd quarter. Toronto Dominion Bank now owns 20,180 shares of the technology company’s stock valued at $4,235,000 after buying an additional 5,673 shares during the period. Procyon Advisors LLC acquired a new position in shares of Veeva Systems in the 3rd quarter valued at $712,000. Principal Financial Group Inc. raised its stake in shares of Veeva Systems by 138.9% in the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock valued at $457,366,000 after buying an additional 1,267,061 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its holdings in shares of Veeva Systems by 3.6% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 78,000 shares of the technology company’s stock worth $16,370,000 after acquiring an additional 2,733 shares during the period. 88.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

VEEV has been the subject of several recent research reports. KeyCorp dropped their price target on shares of Veeva Systems from $285.00 to $255.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. BNP Paribas initiated coverage on Veeva Systems in a report on Tuesday, October 8th. They issued an “outperform” rating and a $286.00 target price for the company. Scotiabank raised 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. The Goldman Sachs Group cut Veeva Systems from a “buy” rating to a “sell” rating and lowered their price target for the company from $261.00 to $200.00 in a research report on Thursday, January 23rd. Finally, Canaccord Genuity Group lifted their price objective on Veeva Systems from $210.00 to $270.00 and gave the company a “hold” rating in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, Veeva Systems currently has an average rating of “Moderate Buy” and an average target price of $253.96.

Insider Activity at Veeva Systems

In related news, 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 value 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Thomas D. Schwenger sold 1,126 shares of Veeva Systems stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $240.01, for a total transaction of $270,251.26. Following the transaction, the insider now directly owns 27,013 shares in the company, valued at $6,483,390.13. The trade was a 4.00 % decrease in their position. The disclosure for this sale can be found here. 10.50% of the stock is currently owned by company insiders.

Veeva Systems Trading Down 1.6 %

Shares of NYSE 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 firm’s 50-day moving average is $223.55 and its 200-day moving average is $212.71. The firm has a market capitalization of $37.87 billion, a PE ratio of 57.59, a price-to-earnings-growth ratio of 2.05 and a beta of 0.85.

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.