Veeva Systems Inc. (NYSE:VEEV) Shares Bought by Rockland Trust Co.

Rockland Trust Co. increased its holdings in Veeva Systems Inc. (NYSE:VEEVFree Report) by 5.0% during the fourth quarter, Holdings Channel reports. The firm owned 112,764 shares of the technology company’s stock after purchasing an additional 5,322 shares during the period. Veeva Systems makes up 1.2% of Rockland Trust Co.’s portfolio, making the stock its 29th largest holding. Rockland Trust Co.’s holdings in Veeva Systems were worth $23,709,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also added to or reduced their stakes in VEEV. General American Investors Co. Inc. acquired a new stake in Veeva Systems during the 3rd quarter worth about $5,133,000. Toronto Dominion Bank increased its position in shares of Veeva Systems by 39.1% in the third quarter. Toronto Dominion Bank now owns 20,180 shares of the technology company’s stock worth $4,235,000 after acquiring an additional 5,673 shares in the last quarter. Procyon Advisors LLC acquired a new stake in shares of Veeva Systems during the third quarter valued at approximately $712,000. Principal Financial Group Inc. lifted 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 valued at $457,366,000 after acquiring an additional 1,267,061 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its stake in 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 purchasing an additional 2,733 shares during the period. 88.20% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

VEEV has been the topic of several recent analyst reports. BNP Paribas initiated coverage on shares of Veeva Systems in a research note on Tuesday, October 8th. They set an “outperform” rating and a $286.00 target price on the stock. Scotiabank upped their price target on Veeva Systems from $235.00 to $240.00 and gave the company a “sector perform” rating in a research report on Friday, December 6th. Morgan Stanley raised their price objective on Veeva Systems from $183.00 to $195.00 and gave the stock an “underweight” rating in a research report on Tuesday, December 17th. Canaccord Genuity Group upped their target price on Veeva Systems from $210.00 to $270.00 and gave the company a “hold” rating in a report on Friday, December 6th. Finally, StockNews.com upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $255.74.

Get Our Latest Report on Veeva Systems

Veeva Systems Price Performance

Veeva Systems stock opened at $210.81 on Wednesday. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93. The firm has a fifty day moving average price of $222.94 and a two-hundred day moving average price of $209.17. The firm has a market cap of $34.23 billion, a price-to-earnings ratio of 52.05, a P/E/G ratio of 2.03 and a beta of 0.84.

Insider Transactions at Veeva Systems

In related news, insider Thomas D. Schwenger sold 1,126 shares of Veeva Systems stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $240.01, for a total transaction of $270,251.26. Following the sale, the insider now directly owns 27,013 shares of the company’s stock, valued at $6,483,390.13. This trade represents a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jonathan Faddis sold 1,694 shares of the company’s stock in a transaction that occurred on 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 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 position. The disclosure for this sale can be found here. 10.50% of the stock is currently owned by corporate insiders.

Veeva Systems Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding VEEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Veeva Systems Inc. (NYSE:VEEVFree Report).

Institutional Ownership by Quarter for Veeva Systems (NYSE:VEEV)

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