Veeva Systems Inc. (NYSE:VEEV) Shares Bought by Cardinal Capital Management

Cardinal Capital Management lifted its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 0.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,727 shares of the technology company’s stock after buying an additional 44 shares during the quarter. Cardinal Capital Management’s holdings in Veeva Systems were worth $3,307,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. MassMutual Private Wealth & Trust FSB raised its position in Veeva Systems by 72.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock worth $25,000 after acquiring an additional 50 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Veeva Systems during the 3rd quarter worth approximately $26,000. True Wealth Design LLC raised its position in shares of Veeva Systems by 3,375.0% during the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock worth $29,000 after purchasing an additional 135 shares during the last quarter. Retirement Wealth Solutions LLC purchased a new stake in Veeva Systems in the 4th quarter valued at approximately $31,000. Finally, Avion Wealth grew its holdings in Veeva Systems by 635.0% during the 4th quarter. Avion Wealth now owns 147 shares of the technology company’s stock valued at $30,000 after buying an additional 127 shares during the last quarter. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on VEEV. The Goldman Sachs Group cut Veeva Systems from a “buy” rating to a “sell” rating and cut their price target for the stock from $261.00 to $200.00 in a report on Thursday, January 23rd. Evercore ISI upped their target price on shares of Veeva Systems from $220.00 to $245.00 and gave the company an “in-line” rating in a report on Friday, December 6th. Citigroup lifted their price target on shares of Veeva Systems from $281.00 to $307.00 and gave the stock a “buy” rating in a report on Monday, December 9th. KeyCorp reduced their price objective 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. Finally, StockNews.com raised shares of Veeva Systems from a “hold” rating to a “buy” rating in a research note on Monday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, Veeva Systems has an average rating of “Moderate Buy” and an average price target of $253.96.

Insider Buying and Selling at Veeva Systems

In other news, SVP Jonathan Faddis sold 1,694 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total value of $390,128.20. Following the completion of the sale, the senior vice president now owns 8,061 shares in the company, valued at approximately $1,856,448.30. This trade represents a 17.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 10.50% of the stock is currently owned by corporate insiders.

Veeva Systems Trading Down 0.0 %

NYSE:VEEV opened at $234.09 on Tuesday. The firm’s fifty day simple moving average is $224.48 and its 200 day simple moving average is $216.29. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93. The firm has a market capitalization of $38.00 billion, a price-to-earnings ratio of 57.80, a PEG ratio of 1.97 and a beta of 0.85.

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.