Boston Trust Walden Corp Invests $7.96 Million in Veeva Systems Inc. (NYSE:VEEV)

Boston Trust Walden Corp purchased a new position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 37,880 shares of the technology company's stock, valued at approximately $7,964,000.

A number of other hedge funds and other institutional investors have also modified their holdings of VEEV. MassMutual Private Wealth & Trust FSB raised its position in shares of Veeva Systems by 72.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company's stock valued at $25,000 after purchasing an additional 50 shares during the period. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Veeva Systems in the 3rd quarter valued at $26,000. True Wealth Design LLC raised its holdings in Veeva Systems by 3,375.0% in the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company's stock worth $29,000 after acquiring an additional 135 shares during the period. Retirement Wealth Solutions LLC acquired a new position in Veeva Systems during the 4th quarter worth $31,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in Veeva Systems during the third quarter valued at about $49,000. Institutional investors own 88.20% of the company's stock.

Veeva Systems Trading Down 0.9 %

Shares of Veeva Systems stock traded down $2.27 during mid-day trading on Friday, reaching $237.16. 714,333 shares of the stock were exchanged, compared to its average volume of 1,027,225. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93. The company has a market cap of $38.50 billion, a price-to-earnings ratio of 58.56, a price-to-earnings-growth ratio of 2.05 and a beta of 0.85. The firm has a 50-day simple moving average of $224.30 and a 200 day simple moving average of $214.01.

Analyst Ratings Changes

VEEV has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price objective on Veeva Systems from $208.00 to $218.00 and gave the stock a "neutral" rating in a research note on Monday, December 16th. Royal Bank of Canada lifted their price target on Veeva Systems from $275.00 to $285.00 and gave the stock an "outperform" rating in a research report on Friday, December 6th. Bank of America increased their price objective on Veeva Systems from $280.00 to $290.00 and gave the company a "neutral" rating in a research report on Friday, December 6th. Piper Sandler boosted their target price on shares of Veeva Systems from $280.00 to $290.00 and gave the stock an "overweight" rating in a research report on Friday, December 6th. Finally, Stephens began coverage on shares of Veeva Systems in a report on Friday, December 20th. They issued an "overweight" rating and a $280.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $253.96.

Insider Activity

In related news, SVP Jonathan Faddis sold 1,694 shares of Veeva Systems stock in a transaction dated Wednesday, December 4th. The stock was 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 $1,856,448.30. The trade was a 17.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 10.50% of the stock is currently owned by corporate insiders.

Veeva Systems Company 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.