CGN Advisors LLC Purchases 1,168 Shares of Veeva Systems Inc. (NYSE:VEEV)

CGN Advisors LLC boosted its stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 11.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 11,406 shares of the technology company's stock after buying an additional 1,168 shares during the period. CGN Advisors LLC's holdings in Veeva Systems were worth $2,398,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. General American Investors Co. Inc. bought a new position in shares of Veeva Systems during the third quarter worth about $5,133,000. Toronto Dominion Bank boosted its position in Veeva Systems by 39.1% during the 3rd quarter. Toronto Dominion Bank now owns 20,180 shares of the technology company's stock worth $4,235,000 after acquiring an additional 5,673 shares during the last quarter. Procyon Advisors LLC bought a new position in shares of Veeva Systems during the 3rd quarter worth approximately $712,000. Principal Financial Group Inc. raised its holdings in shares of 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 purchasing an additional 1,267,061 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its position in shares of Veeva Systems by 3.6% in the third 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 in the last quarter. Institutional investors own 88.20% of the company's stock.

Analyst Upgrades and Downgrades

VEEV has been the subject of a number of analyst reports. StockNews.com raised shares of Veeva Systems from a "hold" rating to a "buy" rating in a research report on Saturday, November 9th. Bank of America raised their price objective on Veeva Systems from $280.00 to $290.00 and gave the company a "neutral" rating in a report on Friday, December 6th. Mizuho initiated 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. Morgan Stanley raised their price target on Veeva Systems from $183.00 to $195.00 and gave the company an "underweight" rating in a research note on Tuesday, December 17th. Finally, Guggenheim upped their price objective on Veeva Systems from $233.00 to $249.00 and gave the stock a "buy" rating in a research note on Tuesday, October 1st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $255.74.

Veeva Systems Stock Up 0.9 %

Shares of VEEV traded up $1.92 during mid-day trading on Friday, hitting $216.67. 715,069 shares of the company's stock were exchanged, compared to its average volume of 940,345. The firm has a market cap of $35.18 billion, a price-to-earnings ratio of 53.50, a price-to-earnings-growth ratio of 1.91 and a beta of 0.84. The stock's 50-day simple moving average is $222.31 and its 200-day simple moving average is $209.66. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93.

Insider Buying and Selling

In related news, insider Thomas D. Schwenger sold 1,126 shares of the company's stock in a transaction on Friday, November 8th. The stock was sold at an average price of $240.01, for a total transaction of $270,251.26. Following the completion of the sale, the insider now directly owns 27,013 shares in the company, valued at $6,483,390.13. This represents a 4.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Jonathan Faddis sold 1,694 shares of Veeva Systems stock in a transaction dated Wednesday, December 4th. The shares were 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 owns 8,061 shares in the company, valued at approximately $1,856,448.30. This represents a 17.37 % decrease in their position. The disclosure for this sale can be found here. 10.50% of the stock is owned by company 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.