D.A. Davidson & CO. Grows Stake in Veeva Systems Inc. (NYSE:VEEV)

D.A. Davidson & CO. grew its holdings in Veeva Systems Inc. (NYSE:VEEV) by 28.4% during the fourth quarter, HoldingsChannel reports. The fund owned 7,230 shares of the technology company’s stock after purchasing an additional 1,600 shares during the period. D.A. Davidson & CO.’s holdings in Veeva Systems were worth $1,520,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. MassMutual Private Wealth & Trust FSB boosted its position in shares of Veeva Systems by 72.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock valued at $25,000 after purchasing an additional 50 shares during the period. True Wealth Design LLC boosted its position in shares of Veeva Systems by 3,375.0% in the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock valued at $29,000 after purchasing an additional 135 shares during the period. Avion Wealth boosted its position in shares of Veeva Systems by 635.0% in the 4th quarter. Avion Wealth now owns 147 shares of the technology company’s stock valued at $30,000 after purchasing an additional 127 shares during the period. Retirement Wealth Solutions LLC acquired a new stake in shares of Veeva Systems in the 4th quarter valued at about $31,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Veeva Systems in the 3rd quarter valued at about $49,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Analysts Set New Price Targets

VEEV has been the subject of a number of research analyst reports. Citigroup upped their target price on Veeva Systems from $281.00 to $307.00 and gave the company a “buy” rating in a research report on Monday, December 9th. JPMorgan Chase & Co. increased their price objective on Veeva Systems from $208.00 to $218.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. Stifel Nicolaus increased their price objective on Veeva Systems from $240.00 to $272.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. The Goldman Sachs Group cut Veeva Systems from a “buy” rating to a “sell” rating and decreased their price objective for the stock from $261.00 to $200.00 in a research report on Thursday, January 23rd. Finally, StockNews.com raised Veeva Systems from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, Veeva Systems presently has a consensus rating of “Moderate Buy” and an average price target of $255.08.

Insider Activity at Veeva Systems

In related news, SVP Jonathan Faddis sold 1,694 shares of the company’s stock in a transaction on 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 10.50% of the company’s stock.

Veeva Systems Trading Down 1.2 %

Veeva Systems stock opened at $226.10 on Friday. The firm has a market capitalization of $36.71 billion, a P/E ratio of 55.83, a PEG ratio of 1.89 and a beta of 0.85. The stock has a fifty day moving average price of $223.76 and a 200 day moving average price of $217.39. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93.

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.