Arthur M. Cohen & Associates LLC Sells 1,676 Shares of Veeva Systems Inc. (NYSE:VEEV)

Arthur M. Cohen & Associates LLC decreased its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 9.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,617 shares of the technology company's stock after selling 1,676 shares during the period. Veeva Systems comprises 0.6% of Arthur M. Cohen & Associates LLC's portfolio, making the stock its 28th largest holding. Arthur M. Cohen & Associates LLC's holdings in Veeva Systems were worth $3,494,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in VEEV. General American Investors Co. Inc. acquired a new stake in Veeva Systems in the third quarter valued at $5,133,000. Toronto Dominion Bank boosted its holdings in Veeva Systems by 39.1% during the third quarter. Toronto Dominion Bank now owns 20,180 shares of the technology company's stock worth $4,235,000 after buying an additional 5,673 shares in the last quarter. Procyon Advisors LLC acquired a new position in Veeva Systems during the third quarter worth about $712,000. Principal Financial Group Inc. increased its holdings in Veeva Systems by 138.9% in the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company's stock valued at $457,366,000 after buying an additional 1,267,061 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its position in shares of Veeva Systems by 3.6% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 78,000 shares of the technology company's stock valued at $16,370,000 after acquiring an additional 2,733 shares during the period. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Price Performance

Shares of Veeva Systems stock traded up $1.92 during trading on Friday, hitting $216.67. The stock had a trading volume of 715,069 shares, compared to its average volume of 940,345. The business has a fifty day moving average of $222.31 and a two-hundred day moving average of $209.66. 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 market cap of $35.18 billion, a P/E ratio of 53.50, a PEG ratio of 1.91 and a beta of 0.84.

Wall Street Analyst Weigh In

VEEV has been the topic of a number of analyst reports. Evercore ISI increased their target price on Veeva Systems from $220.00 to $245.00 and gave the company an "in-line" rating in a report on Friday, December 6th. BNP Paribas assumed coverage on shares of Veeva Systems in a research report on Tuesday, October 8th. They set an "outperform" rating and a $286.00 price target for the company. JPMorgan Chase & Co. raised their price objective on Veeva Systems from $208.00 to $218.00 and gave the stock a "neutral" rating in a report on Monday, December 16th. Needham & Company LLC reissued a "buy" rating and issued a $270.00 target price on shares of Veeva Systems in a research note on Friday. Finally, Robert W. Baird boosted their price objective on Veeva Systems from $275.00 to $283.00 and gave the stock an "outperform" rating in a research note on Friday, December 6th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $255.74.

Insider Buying and Selling

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of the business's 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 owns 27,013 shares in the company, valued at approximately $6,483,390.13. The trade was a 4.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 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 disclosure for this sale can be found here. 10.50% of the stock is currently owned by insiders.

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.