Brown Lisle Cummings Inc. Decreases Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Brown Lisle Cummings Inc. lessened its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 0.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,463 shares of the technology company’s stock after selling 60 shares during the period. Veeva Systems accounts for 1.2% of Brown Lisle Cummings Inc.’s investment portfolio, making the stock its 20th largest position. Brown Lisle Cummings Inc.’s holdings in Veeva Systems were worth $3,882,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of Veeva Systems by 0.7% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 6,924 shares of the technology company’s stock worth $1,453,000 after acquiring an additional 48 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its position in shares of Veeva Systems by 1.2% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,307 shares of the technology company’s stock valued at $904,000 after buying an additional 50 shares during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Veeva Systems by 72.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock worth $25,000 after buying an additional 50 shares in the last quarter. CHICAGO TRUST Co NA grew its stake 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 acquiring an additional 53 shares in the last quarter. Finally, Arkadios Wealth Advisors increased its holdings in Veeva Systems by 1.9% during the 4th quarter. Arkadios Wealth Advisors now owns 3,112 shares of the technology company’s stock worth $654,000 after acquiring an additional 58 shares during the period. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems 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 transaction, the insider now owns 27,013 shares in the company, valued at approximately $6,483,390.13. The trade was a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 completion of the sale, the senior vice president now directly owns 8,061 shares in the company, valued at approximately $1,856,448.30. This represents a 17.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 10.50% of the company’s stock.

Veeva Systems Stock Up 0.1 %

VEEV opened at $233.38 on Tuesday. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93. The stock has a market cap of $37.89 billion, a PE ratio of 57.63, a PEG ratio of 2.05 and a beta of 0.85. The business has a 50 day moving average of $223.55 and a 200-day moving average of $212.93.

Analysts Set New Price Targets

VEEV has been the subject of a number of recent analyst reports. The Goldman Sachs Group lowered shares of Veeva Systems from a “buy” rating to a “sell” rating and reduced their price target for the company from $261.00 to $200.00 in a research report on Thursday, January 23rd. Wells Fargo & Company upped their target price on Veeva Systems from $275.00 to $285.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Needham & Company LLC reissued a “buy” rating and set a $270.00 price objective on shares of Veeva Systems in a report on Friday, January 17th. Stephens began coverage on shares of Veeva Systems in a research note on Friday, December 20th. They issued an “overweight” rating and a $280.00 target price on the stock. Finally, Canaccord Genuity Group boosted their price target on shares of Veeva Systems from $210.00 to $270.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, Veeva Systems currently has a consensus rating of “Moderate Buy” and an average target price of $253.96.

Veeva Systems 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.