Veeva Systems Inc. (NYSE:VEEV) Position Raised by Coldstream Capital Management Inc.

Coldstream Capital Management Inc. lifted its position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 95.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,866 shares of the technology company's stock after buying an additional 2,374 shares during the period. Coldstream Capital Management Inc.'s holdings in Veeva Systems were worth $1,077,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Patriot Financial Group Insurance Agency LLC grew its stake in Veeva Systems by 0.7% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 6,924 shares of the technology company's stock worth $1,453,000 after buying an additional 48 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of Veeva Systems by 1.2% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,307 shares of the technology company's stock valued at $904,000 after acquiring an additional 50 shares in the last quarter. Clearbridge Investments LLC boosted its position in Veeva Systems by 0.4% during the 2nd quarter. Clearbridge Investments LLC now owns 11,682 shares of the technology company's stock worth $2,138,000 after purchasing an additional 52 shares during the period. Park Place Capital Corp increased its holdings in Veeva Systems by 11.5% in the 3rd quarter. Park Place Capital Corp now owns 574 shares of the technology company's stock valued at $120,000 after purchasing an additional 59 shares in the last quarter. Finally, Quintet Private Bank Europe S.A. increased its holdings in Veeva Systems by 13.4% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 516 shares of the technology company's stock valued at $108,000 after purchasing an additional 61 shares in the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on VEEV shares. JPMorgan Chase & Co. upped their target price on Veeva Systems from $203.00 to $208.00 and gave the stock a "neutral" rating in a research report on Monday, September 9th. Wells Fargo & Company upped their price target on Veeva Systems from $275.00 to $285.00 and gave the stock an "overweight" rating in a report on Friday, December 6th. Barclays lifted their price objective on shares of Veeva Systems from $260.00 to $275.00 and gave the company an "overweight" rating in a research note on Friday, December 6th. Robert W. Baird upped their target price on shares of Veeva Systems from $275.00 to $283.00 and gave the company an "outperform" rating in a research note on Friday, December 6th. Finally, Canaccord Genuity Group raised their price target on shares of Veeva Systems from $210.00 to $270.00 and gave the company a "hold" rating in a report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $255.35.

Veeva Systems Stock Down 1.6 %

VEEV stock traded down $3.70 during midday trading on Friday, reaching $228.78. The company had a trading volume of 808,430 shares, compared to its average volume of 983,160. The firm has a market capitalization of $37.05 billion, a PE ratio of 57.40, a P/E/G ratio of 2.07 and a beta of 0.82. The stock has a 50 day moving average price of $220.87 and a 200 day moving average price of $203.83. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93.

Insider Buying and Selling

In related news, insider Thomas D. Schwenger sold 1,126 shares of the firm's stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $240.01, for a total value of $270,251.26. Following the sale, the insider now directly owns 27,013 shares in the company, valued at $6,483,390.13. This trade represents a 4.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jonathan Faddis sold 1,694 shares of Veeva Systems stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total value of $390,128.20. Following the sale, the senior vice president now directly owns 8,061 shares in the company, valued at $1,856,448.30. The trade was a 17.37 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 10.50% of the company's stock.

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.