Veeva Systems Inc. (NYSE:VEEV) Shares Bought by Venturi Wealth Management LLC

Venturi Wealth Management LLC raised its stake in Veeva Systems Inc. (NYSE:VEEV) by 2,716.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 169 shares of the technology company’s stock after purchasing an additional 163 shares during the quarter. Venturi Wealth Management LLC’s holdings in Veeva Systems were worth $36,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. D.A. Davidson & CO. boosted its stake in shares of Veeva Systems by 28.4% in the fourth quarter. D.A. Davidson & CO. now owns 7,230 shares of the technology company’s stock valued at $1,520,000 after buying an additional 1,600 shares in the last quarter. Empower Advisory Group LLC purchased a new stake in shares of Veeva Systems in the fourth quarter valued at approximately $47,724,000. CIBC Asset Management Inc boosted its position in Veeva Systems by 13.4% during the fourth quarter. CIBC Asset Management Inc now owns 6,395 shares of the technology company’s stock worth $1,345,000 after purchasing an additional 754 shares in the last quarter. Catalyst Capital Advisors LLC boosted its position in Veeva Systems by 332.1% during the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the technology company’s stock worth $76,000 after purchasing an additional 279 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in Veeva Systems by 36.0% during the fourth quarter. Principal Financial Group Inc. now owns 2,964,025 shares of the technology company’s stock worth $623,186,000 after purchasing an additional 784,741 shares in the last quarter. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Veeva Systems Stock Down 2.0 %

Shares of NYSE VEEV opened at $221.53 on Wednesday. The stock’s 50 day moving average price is $223.69 and its two-hundred day moving average price is $218.40. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93. The stock has a market capitalization of $35.97 billion, a P/E ratio of 54.70, a PEG ratio of 1.89 and a beta of 0.85.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. The Goldman Sachs Group downgraded Veeva Systems from a “buy” rating to a “sell” rating and decreased their target price for the stock from $261.00 to $200.00 in a research report on Thursday, January 23rd. Barclays boosted their price target on Veeva Systems from $260.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. JPMorgan Chase & Co. boosted their price target on Veeva Systems from $208.00 to $218.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. KeyCorp cut their price target on Veeva Systems from $285.00 to $255.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Finally, Wells Fargo & Company boosted 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. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $255.08.

Insider Buying and Selling at Veeva Systems

In other news, SVP Jonathan Faddis sold 1,694 shares of the stock in a transaction that occurred 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 sale, the senior vice president now directly owns 8,061 shares in the company, valued at approximately $1,856,448.30. This represents a 17.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.50% of the stock is currently owned by insiders.

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.