Geode Capital Management LLC increased its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 5.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,765,236 shares of the technology company's stock after purchasing an additional 149,807 shares during the period. Geode Capital Management LLC owned approximately 1.71% of Veeva Systems worth $579,630,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of Veeva Systems in the 3rd quarter valued at about $26,000. True Wealth Design LLC grew its stake in 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 acquiring an additional 135 shares during the period. Blue Trust Inc. raised its position in shares of Veeva Systems by 3,460.0% during 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 period. DT Investment Partners LLC bought a new position in shares of Veeva Systems in the 2nd quarter worth $35,000. Finally, Fairscale Capital LLC acquired a new stake in Veeva Systems in the 2nd quarter valued at $46,000. 88.20% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Veeva Systems
In related news, SVP Jonathan Faddis sold 1,694 shares of the business's stock in a transaction that occurred on Wednesday, December 4th. The shares were 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas D. Schwenger sold 1,126 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $240.01, for a total transaction of $270,251.26. Following the completion of the sale, the insider now owns 27,013 shares in the company, valued at $6,483,390.13. This represents a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.50% of the stock is currently owned by corporate insiders.
Veeva Systems Stock Down 1.6 %
VEEV traded down $3.70 on Friday, hitting $228.78. The company's stock had a trading volume of 808,430 shares, compared to its average volume of 983,160. Veeva Systems Inc. has a 12 month low of $170.25 and a 12 month high of $258.93. The firm has a market cap of $37.05 billion, a P/E ratio of 57.40, a price-to-earnings-growth ratio of 2.07 and a beta of 0.82. The company's 50 day simple moving average is $220.87 and its 200-day simple moving average is $203.83.
Analyst Upgrades and Downgrades
VEEV has been the topic of several research reports. Wells Fargo & Company upped their price objective on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an "overweight" rating in a report on Friday, December 6th. Mizuho started coverage on shares of Veeva Systems in a research report on Wednesday, December 4th. They issued an "outperform" rating and a $275.00 price target on the stock. Guggenheim boosted their price objective on Veeva Systems from $233.00 to $249.00 and gave the stock a "buy" rating in a report on Tuesday, October 1st. JPMorgan Chase & Co. raised their target price on Veeva Systems from $203.00 to $208.00 and gave the company a "neutral" rating in a report on Monday, September 9th. Finally, Citigroup upped their price target on Veeva Systems from $281.00 to $307.00 and gave the stock a "buy" rating in a report on Monday. One analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $255.35.
Get Our Latest Report on Veeva Systems
About Veeva Systems
(
Free Report)
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.
See Also
Before you consider Veeva Systems, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Veeva Systems wasn't on the list.
While Veeva Systems currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Click the link below to learn more about how your portfolio could bloom.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
