Atomi Financial Group Inc. Has $762,000 Position in Veeva Systems Inc. (NYSE:VEEV)

Atomi Financial Group Inc. lessened its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 2.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,623 shares of the technology company’s stock after selling 93 shares during the period. Atomi Financial Group Inc.’s holdings in Veeva Systems were worth $762,000 as of its most recent SEC filing.

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

Insider Transactions at Veeva Systems

In related news, SVP Jonathan Faddis sold 1,694 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total value of $390,128.20. Following the sale, the senior vice president now 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 accessible through the SEC website. Also, insider Thomas D. Schwenger sold 1,126 shares of Veeva Systems 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 sale, the insider now directly owns 27,013 shares of the company’s stock, valued at $6,483,390.13. This represents a 4.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 10.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Mizuho initiated coverage on Veeva Systems in a research note on Wednesday, December 4th. They set an “outperform” rating and a $275.00 price objective on the stock. Citigroup boosted their price target 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. KeyCorp decreased their price objective on shares of Veeva Systems from $285.00 to $255.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Stifel Nicolaus lifted their target price on shares of Veeva Systems from $240.00 to $272.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Finally, Barclays upped their target price on Veeva Systems from $260.00 to $275.00 and gave the company an “overweight” rating in a report on Friday, December 6th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $255.74.

Veeva Systems Stock Performance

Shares of VEEV opened at $229.05 on Thursday. The stock has a market capitalization of $37.19 billion, a price-to-earnings ratio of 56.56, a price-to-earnings-growth ratio of 1.90 and a beta of 0.84. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93. The stock’s 50-day simple moving average is $221.64 and its 200 day simple moving average is $210.39.

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.