Veeva Systems Inc. (NYSE:VEEV) Shares Purchased by Cerity Partners LLC

Cerity Partners LLC increased its stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 2.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 75,222 shares of the technology company's stock after buying an additional 1,980 shares during the period. Cerity Partners LLC's holdings in Veeva Systems were worth $15,814,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Toronto Dominion Bank lifted its position in shares of Veeva Systems by 39.1% in the 3rd quarter. Toronto Dominion Bank now owns 20,180 shares of the technology company's stock worth $4,235,000 after purchasing an additional 5,673 shares during the period. Principal Financial Group Inc. boosted its position in Veeva Systems by 138.9% during the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company's stock valued at $457,366,000 after purchasing an additional 1,267,061 shares in the last quarter. Smith Group Asset Management LLC raised its holdings in Veeva Systems by 2.2% in the fourth quarter. Smith Group Asset Management LLC now owns 82,567 shares of the technology company's stock worth $17,360,000 after purchasing an additional 1,749 shares in the last quarter. Everence Capital Management Inc. purchased a new stake in shares of Veeva Systems during the fourth quarter valued at about $816,000. Finally, Venturi Wealth Management LLC grew its position in shares of Veeva Systems by 2,716.7% in the 4th quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company's stock worth $36,000 after buying an additional 163 shares during the last quarter. Institutional investors own 88.20% of the company's stock.

Remove Ads

Insiders Place Their Bets

In other news, SVP Jonathan Faddis sold 787 shares of the business's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total transaction of $178,019.40. Following the transaction, the senior vice president now owns 8,668 shares of the company's stock, valued at approximately $1,960,701.60. The trade was a 8.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Timothy S. Cabral sold 3,882 shares of the stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $216.83, for a total transaction of $841,734.06. Following the completion of the sale, the director now directly owns 5,500 shares of the company's stock, valued at approximately $1,192,565. This trade represents a 41.38 % decrease in their position. The disclosure for this sale can be found here. 10.50% of the stock is owned by company insiders.

Veeva Systems Trading Down 0.5 %

NYSE:VEEV traded down $1.11 during trading hours on Tuesday, reaching $222.55. 333,567 shares of the company were exchanged, compared to its average volume of 1,064,951. The firm has a market cap of $36.21 billion, a PE ratio of 54.95, a price-to-earnings-growth ratio of 1.89 and a beta of 1.05. The stock's 50-day moving average is $228.78 and its 200-day moving average is $223.27. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on VEEV. Needham & Company LLC restated a "buy" rating and issued a $270.00 target price on shares of Veeva Systems in a research note on Thursday, March 6th. Morgan Stanley increased their price target on Veeva Systems from $195.00 to $201.00 and gave the company an "underweight" rating in a research note on Thursday, March 6th. Stephens restated an "overweight" rating and set a $280.00 price objective on shares of Veeva Systems in a report on Thursday, March 6th. The Goldman Sachs Group cut shares of Veeva Systems from a "buy" rating to a "sell" rating and lowered their target price for the stock from $261.00 to $200.00 in a research note on Thursday, January 23rd. Finally, KeyCorp cut their price target on shares of Veeva Systems from $285.00 to $255.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat.com, Veeva Systems presently has a consensus rating of "Moderate Buy" and a consensus price target of $256.52.

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.