Patriot Financial Group Insurance Agency LLC Buys 51 Shares of Veeva Systems Inc. (NYSE:VEEV)

Patriot Financial Group Insurance Agency LLC increased its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 0.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,975 shares of the technology company’s stock after buying an additional 51 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Veeva Systems were worth $1,467,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of VEEV. Massachusetts Financial Services Co. MA raised its stake in shares of Veeva Systems by 64.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company’s stock valued at $744,084,000 after acquiring an additional 1,392,256 shares during the last quarter. Principal Financial Group Inc. boosted its stake in 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 worth $457,366,000 after purchasing an additional 1,267,061 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Veeva Systems by 73.2% in the third quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company’s stock valued at $536,972,000 after buying an additional 1,081,501 shares in the last quarter. FMR LLC increased its position in Veeva Systems by 25.7% in the 3rd quarter. FMR LLC now owns 2,981,244 shares of the technology company’s stock valued at $625,674,000 after acquiring an additional 610,021 shares in the last quarter. Finally, Seilern Investment Management Ltd bought a new position in Veeva Systems in the fourth quarter valued at about $94,957,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Trading Up 1.4 %

Shares of Veeva Systems stock opened at $226.48 on Tuesday. The firm has a market capitalization of $36.77 billion, a P/E ratio of 55.90, a price-to-earnings-growth ratio of 2.01 and a beta of 0.84. The business’s fifty day simple moving average is $221.63 and its 200 day simple moving average is $211.29. Veeva Systems Inc. has a 12 month low of $170.25 and a 12 month high of $258.93.

Insider Activity at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of the firm’s stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 8,061 shares of the company’s stock, valued at $1,856,448.30. This trade represents a 17.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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. 10.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

VEEV has been the topic of a number of research reports. Morgan Stanley upped their target price on shares of Veeva Systems from $183.00 to $195.00 and gave the company an “underweight” rating in a research report on Tuesday, December 17th. Wells Fargo & Company boosted their price objective on Veeva Systems from $275.00 to $285.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Guggenheim boosted their price target on Veeva Systems from $233.00 to $249.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Stifel Nicolaus upped their price objective on Veeva Systems from $240.00 to $272.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Finally, Royal Bank of Canada boosted their target price on Veeva Systems from $275.00 to $285.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $253.96.

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.