TD Private Client Wealth LLC Acquires 5,038 Shares of Veeva Systems Inc. (NYSE:VEEV)

TD Private Client Wealth LLC boosted its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 175.9% in the third quarter, Holdings Channel reports. The firm owned 7,902 shares of the technology company’s stock after purchasing an additional 5,038 shares during the quarter. TD Private Client Wealth LLC’s holdings in Veeva Systems were worth $1,658,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. General American Investors Co. Inc. bought a new position in shares of Veeva Systems in the third quarter valued at approximately $5,133,000. Procyon Advisors LLC bought a new position in shares of Veeva Systems in the third quarter valued at approximately $712,000. Envestnet Portfolio Solutions Inc. raised its stake in shares of Veeva Systems by 44.9% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 29,782 shares of the technology company’s stock valued at $5,450,000 after acquiring an additional 9,232 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Veeva Systems by 138.9% in 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 acquiring an additional 1,267,061 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its stake in shares of Veeva Systems by 3.6% in the third quarter. Oppenheimer Asset Management Inc. now owns 78,000 shares of the technology company’s stock valued at $16,370,000 after acquiring an additional 2,733 shares during the last quarter. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Down 0.6 %

Shares of VEEV stock opened at $232.48 on Friday. Veeva Systems Inc. has a 12-month low of $170.25 and a 12-month high of $258.93. The firm has a market capitalization of $37.65 billion, a price-to-earnings ratio of 57.40, a price-to-earnings-growth ratio of 2.07 and a beta of 0.82. The firm has a fifty day moving average of $220.31 and a 200-day moving average of $203.63.

Insider Activity

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were 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 of the company’s stock, valued at $1,856,448.30. The trade was a 17.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Thomas D. Schwenger sold 1,126 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $240.01, for a total transaction of $270,251.26. Following the sale, the insider now directly 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 disclosure for this sale can be found here. 10.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Robert W. Baird lifted their target price on shares of Veeva Systems from $275.00 to $283.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Raymond James boosted their price objective on shares of Veeva Systems from $230.00 to $235.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. TD Cowen boosted their price objective on shares of Veeva Systems from $180.00 to $192.00 and gave the stock a “hold” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. boosted their price objective on shares of Veeva Systems from $203.00 to $208.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. Finally, Stifel Nicolaus boosted their price objective on shares of Veeva Systems from $240.00 to $272.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $255.35.

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.