Cim LLC Purchases New Holdings in Veeva Systems Inc. (NYSE:VEEV)

Cim LLC bought a new position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 5,171 shares of the technology company's stock, valued at approximately $996,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pathstone Family Office LLC grew its stake in shares of Veeva Systems by 16.1% in the third quarter. Pathstone Family Office LLC now owns 4,378 shares of the technology company's stock worth $891,000 after purchasing an additional 608 shares during the last quarter. HighTower Advisors LLC grew its stake in shares of Veeva Systems by 47.1% in the third quarter. HighTower Advisors LLC now owns 13,819 shares of the technology company's stock worth $2,781,000 after purchasing an additional 4,422 shares during the last quarter. Aviva PLC grew its stake in shares of Veeva Systems by 16.2% in the third quarter. Aviva PLC now owns 57,832 shares of the technology company's stock worth $11,766,000 after purchasing an additional 8,044 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of Veeva Systems by 3.0% in the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 101,397 shares of the technology company's stock worth $20,629,000 after purchasing an additional 2,999 shares during the last quarter. Finally, Quintet Private Bank Europe S.A. bought a new stake in shares of Veeva Systems in the third quarter worth $105,000. Institutional investors own 88.20% of the company's stock.

Insider Buying and Selling

In related news, CFO Timothy S. Cabral sold 15,000 shares of the company's stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $184.33, for a total value of $2,764,950.00. Following the sale, the chief financial officer now owns 8,391 shares in the company, valued at approximately $1,546,713.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Veeva Systems news, SVP Jonathan Faddis sold 3,598 shares of the company's stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $207.42, for a total value of $746,297.16. Following the completion of the sale, the senior vice president now directly owns 10,668 shares of the company's stock, valued at approximately $2,212,756.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Timothy S. Cabral sold 15,000 shares of the company's stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $184.33, for a total transaction of $2,764,950.00. Following the completion of the sale, the chief financial officer now directly owns 8,391 shares of the company's stock, valued at $1,546,713.03. The disclosure for this sale can be found here. Insiders have sold 21,989 shares of company stock worth $4,192,363 in the last quarter. Insiders own 10.50% of the company's stock.

Veeva Systems Trading Down 0.6 %

Shares of VEEV traded down $1.07 on Friday, reaching $184.70. The company's stock had a trading volume of 712,346 shares, compared to its average volume of 1,310,458. Veeva Systems Inc. has a twelve month low of $162.72 and a twelve month high of $236.90. The stock has a market capitalization of $29.80 billion, a PE ratio of 54.48, a PEG ratio of 1.82 and a beta of 0.80. The firm has a fifty day moving average of $199.25 and a 200-day moving average of $204.78.

Wall Street Analyst Weigh In

Several analysts recently weighed in on VEEV shares. Jefferies Financial Group boosted their price objective on shares of Veeva Systems from $225.00 to $270.00 and gave the stock a "buy" rating in a research note on Monday, March 4th. Royal Bank of Canada restated an "outperform" rating and issued a $250.00 target price on shares of Veeva Systems in a report on Wednesday, March 27th. JPMorgan Chase & Co. boosted their target price on shares of Veeva Systems from $183.00 to $222.00 and gave the company a "neutral" rating in a report on Wednesday, March 13th. Raymond James restated an "outperform" rating and issued a $260.00 target price on shares of Veeva Systems in a report on Tuesday, March 26th. Finally, StockNews.com upgraded shares of Veeva Systems from a "hold" rating to a "buy" rating in a report on Friday, April 12th. One research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Veeva Systems presently has a consensus rating of "Moderate Buy" and a consensus price target of $227.95.

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.