Banque Transatlantique SA Buys New Holdings in Veeva Systems Inc. (NYSE:VEEV)

Banque Transatlantique SA acquired a new stake in shares of Veeva Systems Inc. (NYSE:VEEV) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,246 shares of the technology company’s stock, valued at approximately $480,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. grew its holdings in shares of Veeva Systems by 138.9% in the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock valued at $457,366,000 after acquiring an additional 1,267,061 shares in the last quarter. Barclays PLC lifted its holdings in shares of Veeva Systems by 18.2% in the third quarter. Barclays PLC now owns 185,206 shares of the technology company’s stock worth $38,870,000 after buying an additional 28,497 shares in the last quarter. World Investment Advisors LLC bought a new stake in Veeva Systems during the 3rd quarter worth approximately $2,131,000. Wilmington Savings Fund Society FSB bought a new position in shares of Veeva Systems in the third quarter worth $168,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Veeva Systems by 73.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company’s stock valued at $536,972,000 after acquiring an additional 1,081,501 shares in the last quarter. 88.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Morgan Stanley raised their price objective on Veeva Systems from $195.00 to $201.00 and gave the company an “underweight” rating in a report on Thursday, March 6th. Needham & Company LLC reissued a “buy” rating and issued a $270.00 target price on shares of Veeva Systems in a research note on Thursday, March 6th. Stephens reiterated an “overweight” rating and issued a $280.00 price objective on shares of Veeva Systems in a research report on Thursday, March 6th. The Goldman Sachs Group downgraded Veeva Systems from a “buy” rating to a “sell” rating and decreased their target price for the company from $261.00 to $200.00 in a report on Thursday, January 23rd. Finally, KeyCorp reduced their price objective on shares of Veeva Systems from $260.00 to $250.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $254.92.

Insider Buying and Selling

In related news, insider Thomas D. Schwenger sold 1,200 shares of the company’s stock in a transaction on Monday, April 14th. The shares were sold at an average price of $220.97, for a total transaction of $265,164.00. Following the completion of the transaction, the insider now owns 25,889 shares in the company, valued at approximately $5,720,692.33. This represents a 4.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Timothy S. Cabral sold 3,882 shares of the firm’s stock in a transaction on Friday, April 4th. The shares were sold at an average price of $216.83, for a total transaction of $841,734.06. Following the completion of the transaction, the director now directly owns 5,500 shares of the company’s stock, valued at approximately $1,192,565. This trade represents a 41.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,869 shares of company stock worth $1,284,917. 10.50% of the stock is owned by corporate insiders.

Veeva Systems Price Performance

VEEV stock opened at $236.63 on Friday. The stock has a market capitalization of $38.50 billion, a P/E ratio of 58.43, a P/E/G ratio of 1.89 and a beta of 1.05. Veeva Systems Inc. has a 1-year low of $170.25 and a 1-year high of $258.93. The business has a fifty day moving average price of $226.53 and a 200-day moving average price of $224.71.

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.