Torray Investment Partners LLC Boosts Position in Veeva Systems Inc. (NYSE:VEEV)

Torray Investment Partners LLC lifted its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 0.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 32,813 shares of the technology company’s stock after acquiring an additional 242 shares during the period. Torray Investment Partners LLC’s holdings in Veeva Systems were worth $6,899,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of VEEV. Massachusetts Financial Services Co. MA raised its holdings in shares of Veeva Systems by 64.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company’s stock worth $744,084,000 after acquiring an additional 1,392,256 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Veeva Systems by 138.9% during the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock worth $457,366,000 after acquiring an additional 1,267,061 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Veeva Systems by 73.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company’s stock worth $536,972,000 after acquiring an additional 1,081,501 shares during the period. FMR LLC raised its holdings in shares of Veeva Systems by 25.7% during the 3rd quarter. FMR LLC now owns 2,981,244 shares of the technology company’s stock worth $625,674,000 after acquiring an additional 610,021 shares during the period. Finally, Seilern Investment Management Ltd purchased a new position in shares of Veeva Systems during the 4th quarter worth $94,957,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Performance

Shares of Veeva Systems stock opened at $219.28 on Tuesday. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93. The company has a market cap of $35.60 billion, a PE ratio of 54.14, a P/E/G ratio of 1.89 and a beta of 0.85. The business has a 50-day simple moving average of $223.74 and a 200-day simple moving average of $219.35.

Wall Street Analyst Weigh In

Several analysts recently issued reports on VEEV shares. Bank of America boosted their price objective on shares of Veeva Systems from $280.00 to $290.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Citigroup boosted their price objective on shares of Veeva Systems from $281.00 to $307.00 and gave the company a “buy” rating in a report on Monday, December 9th. Canaccord Genuity Group boosted their price objective on shares of Veeva Systems from $210.00 to $270.00 and gave the company a “hold” rating in a report on Friday, December 6th. Needham & Company LLC restated a “buy” rating and issued a $270.00 price objective on shares of Veeva Systems in a report on Friday, January 17th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Veeva Systems from $208.00 to $218.00 and gave the company a “neutral” rating in a report on Monday, December 16th. Two equities research 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. According to MarketBeat, Veeva Systems has a consensus rating of “Moderate Buy” and an average target price 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 that occurred 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 of the company’s stock, valued at $1,856,448.30. This represents a 17.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 10.50% of the stock is currently owned by corporate insiders.

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.