17,266 Shares in Veeva Systems Inc. (NYSE:VEEV) Bought by Union Bancaire Privee UBP SA

Union Bancaire Privee UBP SA purchased a new position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 17,266 shares of the technology company's stock, valued at approximately $3,525,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Veeva Systems by 72.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company's stock worth $25,000 after buying an additional 50 shares during the period. Mowery & Schoenfeld Wealth Management LLC bought a new stake in Veeva Systems during the third quarter valued at about $26,000. True Wealth Design LLC grew its position in shares of Veeva Systems by 3,375.0% in the third quarter. True Wealth Design LLC now owns 139 shares of the technology company's stock valued at $29,000 after purchasing an additional 135 shares during the last quarter. Retirement Wealth Solutions LLC bought a new position in shares of Veeva Systems in the fourth quarter worth about $31,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of Veeva Systems during the 3rd quarter worth about $49,000. Institutional investors own 88.20% of the company's stock.

Insider Transactions at Veeva Systems

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of the firm's stock in a transaction dated 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 directly owns 27,013 shares of the company's stock, valued at $6,483,390.13. This trade represents a 4.00 % decrease in their position. The transaction 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 company's stock in a transaction that occurred 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 sale, the senior vice president now directly owns 8,061 shares of the company's stock, valued at approximately $1,856,448.30. This trade represents a 17.37 % decrease in their position. The disclosure for this sale can be found here. Insiders own 10.50% of the company's stock.

Veeva Systems Trading Up 1.0 %

VEEV stock traded up $2.28 during trading hours on Monday, hitting $225.68. 805,279 shares of the stock were exchanged, compared to its average volume of 1,087,555. Veeva Systems Inc. has a 12 month low of $170.25 and a 12 month high of $258.93. The firm has a market capitalization of $36.64 billion, a P/E ratio of 55.72, a P/E/G ratio of 2.01 and a beta of 0.84. The company has a 50-day simple moving average of $221.63 and a two-hundred day simple moving average of $211.29.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Evercore ISI increased their price objective on Veeva Systems from $220.00 to $245.00 and gave the company an "in-line" rating in a research report on Friday, December 6th. Bank of America raised their price target on shares of Veeva Systems from $280.00 to $290.00 and gave the stock a "neutral" rating in a research report on Friday, December 6th. The Goldman Sachs Group lowered shares of Veeva Systems from a "buy" rating to a "sell" rating and cut their price objective for the company from $261.00 to $200.00 in a research report on Thursday. JPMorgan Chase & Co. lifted their target price on Veeva Systems from $208.00 to $218.00 and gave the stock a "neutral" rating in a research report on Monday, December 16th. Finally, StockNews.com cut Veeva Systems from a "buy" rating to a "hold" rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $253.96.

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.