DF Dent & Co. Inc. Sells 20,378 Shares of Veeva Systems Inc. (NYSE:VEEV)

DF Dent & Co. Inc. decreased its position in Veeva Systems Inc. (NYSE:VEEV) by 2.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 814,189 shares of the technology company’s stock after selling 20,378 shares during the quarter. Veeva Systems accounts for 2.2% of DF Dent & Co. Inc.’s portfolio, making the stock its 17th largest position. DF Dent & Co. Inc.’s holdings in Veeva Systems were worth $171,183,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cardinal Capital Management lifted its holdings in shares of Veeva Systems by 0.3% in the 4th quarter. Cardinal Capital Management now owns 15,727 shares of the technology company’s stock worth $3,307,000 after acquiring an additional 44 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in Veeva Systems by 72.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock worth $25,000 after purchasing an additional 50 shares during the period. Patriot Financial Group Insurance Agency LLC lifted its stake in Veeva Systems by 0.7% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 6,975 shares of the technology company’s stock worth $1,467,000 after purchasing an additional 51 shares during the last quarter. CHICAGO TRUST Co NA boosted its position in Veeva Systems by 2.9% during the fourth quarter. CHICAGO TRUST Co NA now owns 1,880 shares of the technology company’s stock valued at $395,000 after buying an additional 53 shares during the period. Finally, Old North State Wealth Management LLC grew its stake in shares of Veeva Systems by 0.4% during the fourth quarter. Old North State Wealth Management LLC now owns 15,351 shares of the technology company’s stock valued at $3,228,000 after buying an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Bank of America increased their target price on Veeva Systems from $280.00 to $290.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Royal Bank of Canada raised their target price on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Wells Fargo & Company upped their price target on shares of Veeva Systems from $275.00 to $285.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Scotiabank raised their price target on shares of Veeva Systems from $240.00 to $245.00 and gave the stock a “sector perform” rating in a report on Thursday, March 6th. Finally, Evercore ISI boosted their price objective on shares of Veeva Systems from $220.00 to $245.00 and gave the company an “in-line” rating in a research report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $256.52.

Insider Activity at Veeva Systems

In related news, SVP Jonathan Faddis sold 787 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total transaction of $178,019.40. Following the sale, the senior vice president now directly owns 8,668 shares of the company’s stock, valued at approximately $1,960,701.60. This represents a 8.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 10.50% of the stock is owned by corporate insiders.

Veeva Systems Stock Performance

VEEV stock opened at $226.51 on Thursday. The firm has a 50 day moving average price of $231.96 and a 200-day moving average price of $223.04. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93. The firm has a market capitalization of $36.85 billion, a price-to-earnings ratio of 55.93, a PEG ratio of 1.89 and a beta of 0.88.

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.