Baader Bank Aktiengesellschaft Reduces Holdings in Veeva Systems Inc. (NYSE:VEEV)

Baader Bank Aktiengesellschaft reduced its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 5.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,850 shares of the technology company’s stock after selling 176 shares during the period. Baader Bank Aktiengesellschaft’s holdings in Veeva Systems were worth $599,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. General American Investors Co. Inc. bought a new position in Veeva Systems in the 3rd quarter worth $5,133,000. Toronto Dominion Bank raised its stake in shares of Veeva Systems by 39.1% in the third quarter. Toronto Dominion Bank now owns 20,180 shares of the technology company’s stock worth $4,235,000 after buying an additional 5,673 shares during the period. Procyon Advisors LLC bought a new position in shares of Veeva Systems in the third quarter worth about $712,000. Principal Financial Group Inc. lifted its position in shares of Veeva Systems by 138.9% during 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. increased its holdings in Veeva Systems by 3.6% in 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 in the last quarter. 88.20% of the stock is currently owned by institutional investors.

Veeva Systems Trading Up 2.2 %

Veeva Systems stock opened at $237.31 on Friday. The firm has a market capitalization of $38.53 billion, a PE ratio of 58.60, a price-to-earnings-growth ratio of 2.04 and a beta of 0.84. Veeva Systems Inc. has a 12-month low of $170.25 and a 12-month high of $258.93. The firm has a 50-day moving average price of $222.75 and a 200-day moving average price of $212.03.

Insider Buying and Selling at Veeva Systems

In other news, insider Thomas D. Schwenger sold 1,126 shares of Veeva Systems stock in a transaction 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 completion of the sale, the insider now directly owns 27,013 shares in the company, valued at approximately $6,483,390.13. This trade represents a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jonathan Faddis sold 1,694 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total transaction of $390,128.20. Following the completion of the transaction, the senior vice president now owns 8,061 shares in the company, valued at approximately $1,856,448.30. The trade was 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.

Analyst Ratings Changes

Several brokerages have weighed in on VEEV. Mizuho began coverage on shares of Veeva Systems in a report on Wednesday, December 4th. They set an “outperform” rating and a $275.00 price target on the stock. KeyCorp dropped their target price on shares of Veeva Systems from $285.00 to $255.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Evercore ISI raised their price target on Veeva Systems from $220.00 to $245.00 and gave the company an “in-line” rating in a report on Friday, December 6th. Royal Bank of Canada boosted their price objective on Veeva Systems from $275.00 to $285.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Finally, StockNews.com cut Veeva Systems from a “buy” rating to a “hold” rating in a research report on Thursday, January 23rd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, Veeva Systems currently has an average rating of “Moderate Buy” and an average price target 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.