Seilern Investment Management Ltd Takes Position in Veeva Systems Inc. (NYSE:VEEV)

Seilern Investment Management Ltd bought a new position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 451,638 shares of the technology company's stock, valued at approximately $94,957,000. Veeva Systems makes up approximately 5.4% of Seilern Investment Management Ltd's investment portfolio, making the stock its 12th largest holding. Seilern Investment Management Ltd owned about 0.28% of Veeva Systems as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in VEEV. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Veeva Systems in the third quarter valued at $26,000. True Wealth Design LLC increased its position in shares of 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 purchasing an additional 135 shares during the last quarter. Retirement Wealth Solutions LLC bought a new stake in shares of Veeva Systems in the 4th quarter worth about $31,000. Fairscale Capital LLC acquired a new stake in shares of Veeva Systems in the 2nd quarter valued at about $46,000. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Veeva Systems during the third quarter worth about $49,000. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

VEEV has been the subject of several research reports. Mizuho initiated coverage on shares of Veeva Systems in a report on Wednesday, December 4th. They issued an "outperform" rating and a $275.00 price target for the company. Guggenheim upped their target price on Veeva Systems from $233.00 to $249.00 and gave the company a "buy" rating in a report on Tuesday, October 1st. Canaccord Genuity Group increased their price target on Veeva Systems from $210.00 to $270.00 and gave the stock a "hold" rating in a research report on Friday, December 6th. Robert W. Baird upped 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. Finally, Morgan Stanley increased their target price on Veeva Systems from $183.00 to $195.00 and gave the stock an "underweight" rating in a research report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $255.74.

Insider Buying and Selling

In other news, insider Thomas D. Schwenger sold 1,126 shares of the company'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 transaction of $270,251.26. Following the completion of the transaction, the insider now directly owns 27,013 shares in the company, valued at $6,483,390.13. The trade was a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jonathan Faddis sold 1,694 shares of the firm's stock in a transaction on 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 sale, the senior vice president now owns 8,061 shares in the company, valued at approximately $1,856,448.30. The trade was a 17.37 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 10.50% of the company's stock.

Veeva Systems Stock Up 0.9 %

NYSE VEEV opened at $216.67 on Monday. The stock has a market capitalization of $35.18 billion, a PE ratio of 53.50, a price-to-earnings-growth ratio of 1.91 and a beta of 0.84. Veeva Systems Inc. has a 12-month low of $170.25 and a 12-month high of $258.93. The company has a 50 day moving average price of $222.31 and a two-hundred day moving average price of $209.66.

About Veeva Systems

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.

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