Shepherd Financial Partners LLC Increases Position in Veeva Systems Inc. (NYSE:VEEV)

Shepherd Financial Partners LLC grew its position in Veeva Systems Inc. (NYSE:VEEV) by 3.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,868 shares of the technology company’s stock after acquiring an additional 116 shares during the period. Shepherd Financial Partners LLC’s holdings in Veeva Systems were worth $813,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of VEEV. Patriot Financial Group Insurance Agency LLC boosted its holdings in Veeva Systems by 0.7% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 6,924 shares of the technology company’s stock valued at $1,453,000 after acquiring an additional 48 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted 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 worth $904,000 after purchasing an additional 50 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew 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 valued at $25,000 after purchasing an additional 50 shares in the last quarter. CHICAGO TRUST Co NA increased its stake in Veeva Systems by 2.9% during the 4th quarter. CHICAGO TRUST Co NA now owns 1,880 shares of the technology company’s stock worth $395,000 after buying an additional 53 shares during the period. Finally, Old North State Wealth Management LLC lifted its holdings in Veeva Systems by 0.4% during the 4th quarter. Old North State Wealth Management LLC now owns 15,351 shares of the technology company’s stock worth $3,228,000 after buying an additional 55 shares in the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on VEEV shares. JPMorgan Chase & Co. boosted their price target on shares of Veeva Systems from $208.00 to $218.00 and gave the stock a “neutral” rating in a research note on Monday, December 16th. Royal Bank of Canada upped their price target on Veeva Systems from $275.00 to $285.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Canaccord Genuity Group lifted their price objective on Veeva Systems from $210.00 to $270.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Evercore ISI upped their target price on shares of Veeva Systems from $220.00 to $245.00 and gave the stock an “in-line” rating in a research note on Friday, December 6th. Finally, Scotiabank lifted their price target on shares of Veeva Systems from $235.00 to $240.00 and gave the stock a “sector perform” rating in a research note on Friday, December 6th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $253.96.

Insider Transactions at Veeva Systems

In related news, SVP Jonathan Faddis sold 1,694 shares of Veeva Systems stock in a transaction on 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 directly owns 8,061 shares of the company’s stock, valued at approximately $1,856,448.30. The trade was a 17.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 10.50% of the company’s stock.

Veeva Systems Stock Down 0.9 %

Shares of Veeva Systems stock opened at $237.16 on Friday. The firm has a market cap of $38.50 billion, a price-to-earnings ratio of 58.56, a price-to-earnings-growth ratio of 1.97 and a beta of 0.85. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93. The company’s 50-day simple moving average is $224.30 and its 200-day simple moving average is $214.01.

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.