Toronto Dominion Bank Grows Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Toronto Dominion Bank grew its position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 39.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,180 shares of the technology company's stock after acquiring an additional 5,673 shares during the quarter. Toronto Dominion Bank's holdings in Veeva Systems were worth $4,235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in VEEV. Wealth Enhancement Advisory Services LLC lifted its position in shares of Veeva Systems by 30.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 12,363 shares of the technology company's stock worth $2,263,000 after buying an additional 2,884 shares in the last quarter. Blue Trust Inc. boosted its position in Veeva Systems by 3,460.0% in the second quarter. Blue Trust Inc. now owns 178 shares of the technology company's stock worth $33,000 after purchasing an additional 173 shares during the last quarter. Raymond James & Associates increased its position in shares of Veeva Systems by 19.4% during the 2nd quarter. Raymond James & Associates now owns 106,241 shares of the technology company's stock valued at $19,443,000 after purchasing an additional 17,253 shares during the last quarter. Capital Investment Services of America Inc. raised its stake in shares of Veeva Systems by 4.3% during the 2nd quarter. Capital Investment Services of America Inc. now owns 84,388 shares of the technology company's stock worth $15,444,000 after purchasing an additional 3,474 shares during the period. Finally, Neo Ivy Capital Management purchased a new position in shares of Veeva Systems in the 2nd quarter worth about $5,077,000. Institutional investors own 88.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Scotiabank lifted their price objective on shares of Veeva Systems from $235.00 to $240.00 and gave the stock a "sector perform" rating in a research report on Friday, December 6th. Royal Bank of Canada lifted their price target on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an "outperform" rating in a report on Friday, December 6th. Needham & Company LLC raised their target price on Veeva Systems from $260.00 to $270.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. Barclays boosted their target price on Veeva Systems from $260.00 to $275.00 and gave the company an "overweight" rating in a research note on Friday, December 6th. Finally, Robert W. Baird increased their price target on Veeva Systems from $275.00 to $283.00 and gave the stock an "outperform" rating in a research note on Friday, December 6th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $255.35.

Insider Buying and Selling at Veeva Systems

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

Veeva Systems Trading Down 1.6 %

Shares of NYSE:VEEV traded down $3.70 during trading on Friday, reaching $228.78. The company had a trading volume of 814,087 shares, compared to its average volume of 1,380,784. Veeva Systems Inc. has a 12 month low of $170.25 and a 12 month high of $258.93. The stock has a market capitalization of $37.14 billion, a P/E ratio of 56.49, a price-to-earnings-growth ratio of 2.03 and a beta of 0.82. The company has a fifty day moving average of $221.36 and a two-hundred day moving average of $204.03.

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.