Oak Harvest Investment Services Makes New $1.05 Million Investment in Veeva Systems Inc. (NYSE:VEEV)

Oak Harvest Investment Services bought a new position in Veeva Systems Inc. (NYSE:VEEV - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 5,000 shares of the technology company's stock, valued at approximately $1,051,000.

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

Insider Activity

In other news, insider Thomas D. Schwenger sold 1,126 shares of the firm's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.01, for a total transaction of $270,251.26. Following the sale, the insider now owns 27,013 shares of the company's stock, valued at $6,483,390.13. This trade represents a 4.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Jonathan Faddis sold 1,694 shares of the stock in a transaction that occurred on 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 in the company, valued at $1,856,448.30. This trade represents a 17.37 % decrease in their position. The disclosure for this sale can be found here. Insiders own 10.50% of the company's stock.

Veeva Systems Stock Up 0.1 %

Shares of Veeva Systems stock traded up $0.22 on Tuesday, reaching $233.51. The company's stock had a trading volume of 623,685 shares, compared to its average volume of 1,039,790. The company has a market capitalization of $37.91 billion, a price-to-earnings ratio of 57.73, a P/E/G ratio of 2.05 and a beta of 0.85. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93. The firm's fifty day simple moving average is $223.68 and its two-hundred day simple moving average is $213.30.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Barclays boosted their target price on Veeva Systems from $260.00 to $275.00 and gave the company an "overweight" rating in a research note on Friday, December 6th. Scotiabank boosted their target price 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. Morgan Stanley boosted their target price on Veeva Systems from $183.00 to $195.00 and gave the company an "underweight" rating in a research note on Tuesday, December 17th. Canaccord Genuity Group boosted their target price on Veeva Systems from $210.00 to $270.00 and gave the company a "hold" rating in a research note on Friday, December 6th. Finally, Robert W. Baird boosted their target price on Veeva Systems from $275.00 to $283.00 and gave the company an "outperform" rating in a research note on Friday, December 6th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Veeva Systems currently has an average 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.