Shaker Investments LLC OH Acquires Shares of 9,518 Veeva Systems Inc. (NYSE:VEEV)

Shaker Investments LLC OH bought a new position in Veeva Systems Inc. (NYSE:VEEV) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 9,518 shares of the technology company’s stock, valued at approximately $2,001,000.

A number of other hedge funds have also made changes to their positions in VEEV. Brookstone Capital Management bought a new position in shares of Veeva Systems in the third quarter valued at about $203,000. CWM LLC raised its holdings in Veeva Systems by 61.3% during the 3rd quarter. CWM LLC now owns 6,770 shares of the technology company’s stock worth $1,421,000 after purchasing an additional 2,574 shares during the last quarter. CHICAGO TRUST Co NA lifted its position in Veeva Systems by 4.3% during the 3rd quarter. CHICAGO TRUST Co NA now owns 1,827 shares of the technology company’s stock valued at $383,000 after purchasing an additional 75 shares during the period. Thomasville National Bank boosted its stake in shares of Veeva Systems by 3.2% in the 3rd quarter. Thomasville National Bank now owns 80,778 shares of the technology company’s stock valued at $16,953,000 after purchasing an additional 2,501 shares during the last quarter. Finally, Procyon Advisors LLC acquired a new stake in shares of Veeva Systems during the 3rd quarter worth approximately $712,000. Institutional investors and hedge funds 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 business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total transaction of $390,128.20. Following the completion of the transaction, the senior vice president now owns 8,061 shares of the company’s stock, valued at approximately $1,856,448.30. The trade was a 17.37 % 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 the SEC website. Corporate insiders own 10.50% of the company’s stock.

Veeva Systems Trading Up 0.1 %

Shares of Veeva Systems stock opened at $237.38 on Tuesday. The company has a market cap of $38.54 billion, a PE ratio of 58.61, a price-to-earnings-growth ratio of 1.97 and a beta of 0.85. The company has a 50 day moving average of $224.48 and a 200-day moving average of $214.76. Veeva Systems Inc. has a 1-year low of $170.25 and a 1-year high of $258.93.

Analyst Upgrades and Downgrades

Several research firms have weighed in on VEEV. Mizuho began coverage on Veeva Systems in a report on Wednesday, December 4th. They set an “outperform” rating and a $275.00 target price on the stock. Scotiabank increased their target price on Veeva Systems from $235.00 to $240.00 and gave the stock a “sector perform” rating in a research note on Friday, December 6th. Bank of America lifted their price target on shares of Veeva Systems from $280.00 to $290.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. KeyCorp lowered their price objective on shares of Veeva Systems from $285.00 to $255.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Finally, StockNews.com cut shares of Veeva Systems from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $253.96.

Veeva Systems Profile

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.