Mirador Capital Partners LP Has $1.51 Million Holdings in Veeva Systems Inc. (NYSE:VEEV)

Mirador Capital Partners LP reduced its stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 19.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,177 shares of the technology company's stock after selling 1,700 shares during the period. Mirador Capital Partners LP's holdings in Veeva Systems were worth $1,509,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in VEEV. General American Investors Co. Inc. acquired a new stake in shares of Veeva Systems in the third quarter valued at about $5,133,000. Toronto Dominion Bank grew its holdings in Veeva Systems by 39.1% in the 3rd quarter. Toronto Dominion Bank now owns 20,180 shares of the technology company's stock valued at $4,235,000 after buying an additional 5,673 shares during the last quarter. Procyon Advisors LLC acquired a new stake in Veeva Systems in the 3rd quarter valued at approximately $712,000. Principal Financial Group Inc. increased its position in Veeva Systems by 138.9% in the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company's stock worth $457,366,000 after buying an additional 1,267,061 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its holdings in shares of Veeva Systems by 3.6% during the third quarter. Oppenheimer Asset Management Inc. now owns 78,000 shares of the technology company's stock worth $16,370,000 after buying an additional 2,733 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company's stock.

Veeva Systems Trading Up 1.4 %

Shares of Veeva Systems stock traded up $2.97 during trading on Thursday, reaching $214.70. The company's stock had a trading volume of 887,766 shares, compared to its average volume of 1,030,367. The stock has a 50-day moving average price of $222.85 and a two-hundred day moving average price of $209.19. The stock has a market capitalization of $34.86 billion, a P/E ratio of 53.01, a price-to-earnings-growth ratio of 1.91 and a beta of 0.84. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93.

Analysts Set New Price Targets

VEEV has been the topic of several research analyst reports. Guggenheim raised their price objective on shares of Veeva Systems from $233.00 to $249.00 and gave the stock a "buy" rating in a research note on Tuesday, October 1st. 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. Royal Bank of Canada upped their price objective on shares of Veeva Systems from $275.00 to $285.00 and gave the company an "outperform" rating in a research report on Friday, December 6th. Wells Fargo & Company lifted their target price on Veeva Systems from $275.00 to $285.00 and gave the stock an "overweight" rating in a research report on Friday, December 6th. Finally, Barclays upped their price target on Veeva Systems from $260.00 to $275.00 and gave the company an "overweight" rating in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $255.74.

Insiders Place Their Bets

In related news, insider Thomas D. Schwenger sold 1,126 shares of the firm's stock in a transaction dated Friday, November 8th. The stock was 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jonathan Faddis sold 1,694 shares of the business's stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total value of $390,128.20. Following the sale, the senior vice president now directly owns 8,061 shares of the company's stock, valued at $1,856,448.30. This represents a 17.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 10.50% of the company's stock.

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.