Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Has $119.34 Million Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 9.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 528,568 shares of the technology company's stock after purchasing an additional 44,382 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned 0.33% of Veeva Systems worth $119,335,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of VEEV. Massachusetts Financial Services Co. MA boosted its holdings in Veeva Systems by 64.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company's stock worth $744,084,000 after buying an additional 1,392,256 shares in the last quarter. State Street Corp lifted its stake in shares of Veeva Systems by 1.5% in the 3rd quarter. State Street Corp now owns 3,293,141 shares of the technology company's stock valued at $691,132,000 after purchasing an additional 47,872 shares during the last quarter. FMR LLC boosted its stake in shares of Veeva Systems by 25.7% during the 3rd quarter. FMR LLC now owns 2,981,244 shares of the technology company's stock worth $625,674,000 after acquiring an additional 610,021 shares in the last quarter. Geode Capital Management LLC grew its holdings in Veeva Systems by 5.7% during the third quarter. Geode Capital Management LLC now owns 2,765,236 shares of the technology company's stock valued at $579,630,000 after purchasing an additional 149,807 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Veeva Systems by 73.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company's stock worth $536,972,000 after acquiring an additional 1,081,501 shares during the period. Institutional investors own 88.20% of the company's stock.

Veeva Systems Stock Performance

NYSE:VEEV traded down $1.07 during mid-day trading on Wednesday, hitting $233.26. 862,933 shares of the company's stock traded hands, compared to its average volume of 998,265. The company has a market cap of $37.87 billion, a PE ratio of 57.60, a price-to-earnings-growth ratio of 1.97 and a beta of 0.85. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93. The firm's 50 day simple moving average is $224.84 and its 200 day simple moving average is $215.41.

Insider Activity

In related news, SVP Jonathan Faddis sold 1,694 shares of the company'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 transaction, the senior vice president now directly owns 8,061 shares in the company, valued at $1,856,448.30. This represents a 17.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 10.50% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on VEEV. The Goldman Sachs Group cut Veeva Systems from a "buy" rating to a "sell" rating and reduced their target price for the stock from $261.00 to $200.00 in a research report on Thursday, January 23rd. Royal Bank of Canada raised their target price 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. Barclays raised their target price on shares of Veeva Systems from $260.00 to $275.00 and gave the company an "overweight" rating in a research report on Friday, December 6th. Wells Fargo & Company lifted 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. Finally, Morgan Stanley lifted their price target on Veeva Systems from $183.00 to $195.00 and gave the stock an "underweight" rating in a report on Tuesday, December 17th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company 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.