Portfolio Design Labs LLC Purchases Shares of 1,272 Veeva Systems Inc. (NYSE:VEEV)

Portfolio Design Labs LLC purchased a new stake in shares of Veeva Systems Inc. (NYSE:VEEV) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,272 shares of the technology company’s stock, valued at approximately $267,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Shaker Investments LLC OH bought a new position in Veeva Systems during the 4th quarter valued at approximately $2,001,000. Wingate Wealth Advisors Inc. bought a new position in shares of Veeva Systems in the 4th quarter worth approximately $59,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in shares of Veeva Systems by 9.2% in the 4th quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 528,568 shares of the technology company’s stock worth $119,335,000 after acquiring an additional 44,382 shares in the last quarter. 17 Capital Partners LLC raised its position in shares of Veeva Systems by 9.5% in the 4th quarter. 17 Capital Partners LLC now owns 1,783 shares of the technology company’s stock worth $375,000 after acquiring an additional 155 shares in the last quarter. Finally, Kestra Private Wealth Services LLC raised its position in shares of Veeva Systems by 66.0% in the 4th quarter. Kestra Private Wealth Services LLC now owns 4,109 shares of the technology company’s stock worth $864,000 after acquiring an additional 1,634 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on VEEV. Mizuho began coverage on Veeva Systems in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $275.00 target price for the company. Scotiabank increased their target price on Veeva Systems from $235.00 to $240.00 and gave the stock a “sector perform” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. raised their price objective on Veeva Systems from $208.00 to $218.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. Royal Bank of Canada raised their price objective on Veeva Systems from $275.00 to $285.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $270.00 price objective on shares of Veeva Systems in a research report on Friday, January 17th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $253.96.

Veeva Systems Price Performance

VEEV stock opened at $233.26 on Thursday. The company has a market cap of $37.87 billion, a P/E ratio of 57.60, a price-to-earnings-growth ratio of 1.97 and a beta of 0.85. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93. The stock’s fifty day moving average price is $224.84 and its 200-day moving average price is $215.41.

Insider Transactions at Veeva Systems

In related news, SVP Jonathan Faddis sold 1,694 shares of Veeva Systems stock in a transaction 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 transaction, the senior vice president now directly owns 8,061 shares in the company, valued at approximately $1,856,448.30. The trade was a 17.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 10.50% of the company’s stock.

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.