Everence Capital Management Inc. Makes New $816,000 Investment in Veeva Systems Inc. (NYSE:VEEV)

Everence Capital Management Inc. acquired a new stake in Veeva Systems Inc. (NYSE:VEEV) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 3,880 shares of the technology company’s stock, valued at approximately $816,000.

A number of other hedge funds have also added to or reduced their stakes in VEEV. CIBC Asset Management Inc increased its stake in shares of Veeva Systems by 14.9% in the 2nd quarter. CIBC Asset Management Inc now owns 5,347 shares of the technology company’s stock valued at $979,000 after acquiring an additional 695 shares in the last quarter. Foundations Investment Advisors LLC increased its stake in Veeva Systems by 5.9% in the second quarter. Foundations Investment Advisors LLC now owns 2,503 shares of the technology company’s stock valued at $458,000 after purchasing an additional 140 shares in the last quarter. Larson Financial Group LLC raised its holdings in shares of Veeva Systems by 477.3% during the second quarter. Larson Financial Group LLC now owns 941 shares of the technology company’s stock valued at $172,000 after purchasing an additional 778 shares during the period. Arizona State Retirement System boosted its position in shares of Veeva Systems by 1.2% during the 2nd quarter. Arizona State Retirement System now owns 44,428 shares of the technology company’s stock worth $8,131,000 after purchasing an additional 531 shares in the last quarter. Finally, Private Advisor Group LLC grew its stake in shares of Veeva Systems by 6.0% in the 2nd quarter. Private Advisor Group LLC now owns 8,996 shares of the technology company’s stock valued at $1,646,000 after buying an additional 510 shares during the period. 88.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Wells Fargo & Company upped their price target on Veeva Systems from $275.00 to $285.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Barclays increased their target price on Veeva Systems from $260.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Citigroup boosted their price target on shares of Veeva Systems from $281.00 to $307.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Stephens assumed coverage on shares of Veeva Systems in a research note on Friday, December 20th. They issued an “overweight” rating and a $280.00 price objective on the stock. Finally, BNP Paribas assumed coverage on shares of Veeva Systems in a research report on Tuesday, October 8th. They set an “outperform” rating and a $286.00 target price for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $257.44.

Insider Transactions at Veeva Systems

In related news, insider Thomas D. Schwenger sold 1,126 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $240.01, for a total value of $270,251.26. Following the completion of the transaction, the insider now directly owns 27,013 shares of the company’s stock, valued at approximately $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 is accessible through this hyperlink. Also, SVP Jonathan Faddis sold 1,694 shares of Veeva Systems 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 $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. 10.50% of the stock is owned by corporate insiders.

Veeva Systems Trading Up 1.2 %

Shares of NYSE VEEV opened at $213.03 on Friday. The firm has a market cap of $34.59 billion, a price-to-earnings ratio of 52.60, a price-to-earnings-growth ratio of 2.03 and a beta of 0.84. The stock has a fifty day simple moving average of $222.67 and a two-hundred day simple moving average of $207.31. Veeva Systems Inc. has a 1-year low of $170.25 and a 1-year high of $258.93.

Veeva Systems Company 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.