Trust Co. of Vermont Raises Stake in Veeva Systems Inc. (NYSE:VEEV)

Trust Co. of Vermont lifted its stake in Veeva Systems Inc. (NYSE:VEEV) by 157.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,111 shares of the technology company’s stock after purchasing an additional 680 shares during the period. Trust Co. of Vermont’s holdings in Veeva Systems were worth $234,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in VEEV. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Veeva Systems during the third quarter worth approximately $26,000. True Wealth Design LLC increased its holdings in Veeva Systems by 3,375.0% during the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock worth $29,000 after purchasing an additional 135 shares during the period. Retirement Wealth Solutions LLC purchased a new position in Veeva Systems during the 4th quarter worth $31,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Veeva Systems in the 3rd quarter worth $49,000. Finally, Fairscale Capital LLC bought a new position in shares of Veeva Systems during the 2nd quarter worth $46,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Barclays upped their price objective on shares of Veeva Systems from $260.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Guggenheim increased their price objective on shares of Veeva Systems from $233.00 to $249.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Robert W. Baird boosted their price objective on shares of Veeva Systems from $275.00 to $283.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Royal Bank of Canada lifted their price target on Veeva Systems from $275.00 to $285.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Finally, Evercore ISI boosted their price target on Veeva Systems from $220.00 to $245.00 and gave the stock an “in-line” rating in a research report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $255.74.

Veeva Systems Price Performance

Shares of Veeva Systems stock opened at $216.67 on Monday. The stock has a market cap of $35.18 billion, a PE ratio of 53.50, a price-to-earnings-growth ratio of 1.91 and a beta of 0.84. The firm has a fifty day moving average price of $222.31 and a 200 day moving average price of $209.66. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93.

Insider Activity

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 completion of the transaction, the senior vice president now 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Thomas D. Schwenger sold 1,126 shares of the firm’s stock in a transaction dated 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 owns 27,013 shares in the company, valued at $6,483,390.13. This trade represents a 4.00 % 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 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.