Veeva Systems Inc. $VEEV Stock Holdings Increased by 1834 Investment Advisors Co.

1834 Investment Advisors Co. boosted its position in Veeva Systems Inc. (NYSE:VEEV) by 2.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,714 shares of the technology company’s stock after buying an additional 56 shares during the quarter. 1834 Investment Advisors Co.’s holdings in Veeva Systems were worth $782,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sowell Financial Services LLC bought a new stake in Veeva Systems in the first quarter valued at about $274,000. Crossmark Global Holdings Inc. bought a new position in shares of Veeva Systems during the first quarter valued at approximately $299,000. GAMMA Investing LLC grew its holdings in shares of Veeva Systems by 13.8% during the first quarter. GAMMA Investing LLC now owns 1,823 shares of the technology company’s stock valued at $422,000 after purchasing an additional 221 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Veeva Systems during the first quarter valued at approximately $5,876,000. Finally, Private Trust Co. NA grew its holdings in shares of Veeva Systems by 35.0% during the first quarter. Private Trust Co. NA now owns 247 shares of the technology company’s stock valued at $57,000 after purchasing an additional 64 shares during the last quarter. 88.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on VEEV. Stifel Nicolaus upped their target price on Veeva Systems from $295.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, August 28th. Barclays upped their target price on Veeva Systems from $300.00 to $325.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. Needham & Company LLC upped their target price on Veeva Systems from $300.00 to $355.00 and gave the company a “buy” rating in a report on Thursday, August 28th. JPMorgan Chase & Co. raised Veeva Systems from a “neutral” rating to an “overweight” rating and upped their target price for the company from $290.00 to $330.00 in a report on Monday, September 8th. Finally, Morgan Stanley upped their target price on Veeva Systems from $210.00 to $222.00 and gave the company an “underweight” rating in a report on Thursday, August 28th. Seventeen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Veeva Systems presently has a consensus rating of “Moderate Buy” and an average price target of $301.48.

Veeva Systems Trading Up 3.8%

Shares of NYSE VEEV opened at $290.44 on Friday. The stock has a 50 day simple moving average of $280.76 and a 200-day simple moving average of $260.60. The company has a market cap of $47.60 billion, a PE ratio of 59.64, a P/E/G ratio of 2.16 and a beta of 0.95. Veeva Systems Inc. has a 12-month low of $200.30 and a 12-month high of $296.72.

Insider Buying and Selling

In other Veeva Systems news, Director Priscilla Hung sold 171 shares of the company’s stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $284.40, for a total value of $48,632.40. Following the completion of the sale, the director directly owned 3,966 shares in the company, valued at $1,127,930.40. This represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Jonathan Faddis sold 720 shares of the company’s stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $285.62, for a total value of $205,646.40. Following the completion of the sale, the senior vice president owned 7,902 shares of the company’s stock, valued at $2,256,969.24. This trade represents a 8.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,063 shares of company stock valued at $302,955 over the last 90 days. 10.30% of the stock is currently owned by 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.