US Bancorp DE Has $42.24 Million Holdings in Veeva Systems Inc. $VEEV

US Bancorp DE reduced its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 7.8% in the 2nd quarter, Holdings Channel.com reports. The firm owned 146,659 shares of the technology company’s stock after selling 12,340 shares during the quarter. US Bancorp DE’s holdings in Veeva Systems were worth $42,235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of VEEV. Abound Financial LLC acquired a new position in Veeva Systems during the 1st quarter valued at $25,000. ORG Partners LLC acquired a new position in Veeva Systems during the 1st quarter valued at $26,000. Golden State Wealth Management LLC raised its stake in Veeva Systems by 152.9% during the 1st quarter. Golden State Wealth Management LLC now owns 129 shares of the technology company’s stock valued at $30,000 after purchasing an additional 78 shares during the last quarter. Wayfinding Financial LLC acquired a new position in Veeva Systems during the 1st quarter valued at $32,000. Finally, Legacy Investment Solutions LLC acquired a new position in Veeva Systems during the 2nd quarter valued at $32,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Stock Down 1.1%

Shares of Veeva Systems stock opened at $298.42 on Friday. The stock has a market capitalization of $48.91 billion, a P/E ratio of 61.28, a price-to-earnings-growth ratio of 2.33 and a beta of 0.98. The company has a 50-day simple moving average of $282.79 and a 200 day simple moving average of $264.53. Veeva Systems Inc. has a 12-month low of $201.54 and a 12-month high of $310.50.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on VEEV shares. BTIG Research increased their price objective on shares of Veeva Systems from $335.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, August 28th. Citigroup increased their price objective on shares of Veeva Systems from $329.00 to $349.00 and gave the company a “buy” rating in a research note on Thursday, August 28th. Morgan Stanley increased their price objective on shares of Veeva Systems from $210.00 to $222.00 and gave the company an “underweight” rating in a research note on Thursday, August 28th. Canaccord Genuity Group increased their price objective on shares of Veeva Systems from $270.00 to $300.00 and gave the company a “hold” rating in a research note on Thursday, August 28th. Finally, Barclays boosted their price target on Veeva Systems from $300.00 to $325.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. Sixteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Veeva Systems has an average rating of “Moderate Buy” and an average target price of $307.58.

Insider Buying and Selling

In other Veeva Systems news, insider Thomas D. Schwenger sold 3,350 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $300.04, for a total value of $1,005,134.00. Following the completion of the sale, the insider owned 23,773 shares in the company, valued at approximately $7,132,850.92. This trade represents a 12.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Jonathan Faddis sold 720 shares of the firm’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $298.12, for a total transaction of $214,646.40. Following the completion of the sale, the senior vice president owned 7,868 shares of the company’s stock, valued at $2,345,608.16. The trade was a 8.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,665 shares of company stock worth $7,438,000 in the last quarter. 10.30% of the stock is owned by corporate insiders.

About Veeva Systems

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.