Hickory Asset Management Inc. Buys Shares of 1,838 Veeva Systems Inc. (NYSE:VEEV)

Hickory Asset Management Inc. bought a new stake in shares of Veeva Systems Inc. (NYSE:VEEV) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,838 shares of the technology company’s stock, valued at approximately $386,000.

A number of other institutional investors have also added to or reduced their stakes in the business. General American Investors Co. Inc. purchased a new position in shares of Veeva Systems in the 3rd quarter worth approximately $5,133,000. Toronto Dominion Bank grew its position in shares of Veeva Systems by 39.1% in the 3rd 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 last quarter. Principal Financial Group Inc. grew its position in shares of Veeva Systems by 138.9% in the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock worth $457,366,000 after buying an additional 1,267,061 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in shares of 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 buying an additional 2,733 shares during the last quarter. Finally, Assetmark Inc. grew its position in shares of Veeva Systems by 46.4% in the 3rd quarter. Assetmark Inc. now owns 48,205 shares of the technology company’s stock worth $10,117,000 after buying an additional 15,289 shares during the last quarter. 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, SVP Jonathan Faddis sold 1,694 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total value of $390,128.20. Following the transaction, the senior vice president now owns 8,061 shares of the company’s stock, valued at $1,856,448.30. This represents a 17.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 10.50% of the stock is currently owned by corporate insiders.

Veeva Systems Trading Down 0.0 %

Shares of VEEV stock opened at $234.09 on Friday. The company’s 50-day moving average price is $224.80 and its 200-day moving average price is $215.67. The stock has a market cap of $38.00 billion, a price-to-earnings ratio of 57.80, a PEG ratio of 1.97 and a beta of 0.85. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on VEEV shares. Scotiabank lifted their price objective on shares of Veeva Systems from $235.00 to $240.00 and gave the stock a “sector perform” rating in a research report on Friday, December 6th. Needham & Company LLC reiterated a “buy” rating and issued a $270.00 target price on shares of Veeva Systems in a research note on Friday, January 17th. 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 note on Friday, December 6th. Bank of America lifted their target price on shares of Veeva Systems from $280.00 to $290.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, Evercore ISI lifted their price objective on shares of Veeva Systems from $220.00 to $245.00 and gave the company an “in-line” 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 issued a buy rating to the company’s stock. According to data from MarketBeat, Veeva Systems has an average rating of “Moderate Buy” and a consensus 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.