Dakota Wealth Management Purchases Shares of 6,998 Veeva Systems Inc. (NYSE:VEEV)

Dakota Wealth Management acquired a new stake in shares of Veeva Systems Inc. (NYSE:VEEV) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 6,998 shares of the technology company’s stock, valued at approximately $1,471,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Patriot Financial Group Insurance Agency LLC boosted its stake in shares of Veeva Systems by 0.7% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 6,924 shares of the technology company’s stock valued at $1,453,000 after purchasing an additional 48 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its stake 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 valued at $904,000 after purchasing an additional 50 shares during the period. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Veeva Systems by 72.5% during 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 during the period. Clearbridge Investments LLC boosted its stake in shares of Veeva Systems by 0.4% during the second quarter. Clearbridge Investments LLC now owns 11,682 shares of the technology company’s stock valued at $2,138,000 after purchasing an additional 52 shares during the period. Finally, CHICAGO TRUST Co NA boosted its stake in shares of Veeva Systems by 2.9% during the fourth quarter. CHICAGO TRUST Co NA now owns 1,880 shares of the technology company’s stock valued at $395,000 after purchasing an additional 53 shares during the period. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Insiders Place Their Bets

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total value of $390,128.20. Following the transaction, the senior vice president now directly owns 8,061 shares of the company’s stock, valued at approximately $1,856,448.30. This trade represents a 17.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Thomas D. Schwenger sold 1,126 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $240.01, for a total value of $270,251.26. Following the completion of the transaction, the insider now directly owns 27,013 shares in the company, valued at $6,483,390.13. The trade was 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 Stock Performance

NYSE VEEV opened at $223.23 on Friday. The company has a market capitalization of $36.24 billion, a price-to-earnings ratio of 55.12, a PEG ratio of 1.96 and a beta of 0.84. The stock has a 50-day moving average of $221.55 and a 200 day moving average of $210.52. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on VEEV. Scotiabank increased their price objective on Veeva Systems from $235.00 to $240.00 and gave the company a “sector perform” rating in a research note on Friday, December 6th. BNP Paribas initiated coverage on Veeva Systems in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $286.00 price target for the company. The Goldman Sachs Group lowered Veeva Systems from a “buy” rating to a “sell” rating and dropped their price target for the stock from $261.00 to $200.00 in a research note on Thursday. Royal Bank of Canada raised their price target on Veeva Systems from $275.00 to $285.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Finally, Stifel Nicolaus raised their price target on Veeva Systems from $240.00 to $272.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $253.96.

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.