Alhambra Investment Management LLC Acquires Shares of 1,234 Veeva Systems Inc. (NYSE:VEEV)

Alhambra Investment Management LLC bought a new position in shares of Veeva Systems Inc. (NYSE:VEEV) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,234 shares of the technology company’s stock, valued at approximately $259,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Mowery & Schoenfeld Wealth Management LLC bought a new stake in Veeva Systems during the 3rd quarter worth approximately $26,000. True Wealth Design LLC grew its holdings in Veeva Systems by 3,375.0% during the third quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock worth $29,000 after buying an additional 135 shares in the last quarter. Retirement Wealth Solutions LLC purchased a new stake in Veeva Systems in the 4th quarter valued at $31,000. Fairscale Capital LLC bought a new position in Veeva Systems during the 2nd quarter valued at $46,000. Finally, Harvest Fund Management Co. Ltd bought a new position in Veeva Systems during the 3rd quarter valued at $49,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Scotiabank increased their target price on shares of Veeva Systems from $235.00 to $240.00 and gave the company a “sector perform” rating in a report on Friday, December 6th. Royal Bank of Canada increased their price objective on shares of Veeva Systems from $275.00 to $285.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Wells Fargo & Company boosted their target price on Veeva Systems from $275.00 to $285.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $270.00 price target on shares of Veeva Systems in a research report on Friday. Finally, Bank of America boosted their price objective on Veeva Systems from $280.00 to $290.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $255.74.

Insider Activity

In related news, SVP Jonathan Faddis sold 1,694 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total transaction 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 $1,856,448.30. The trade was a 17.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas D. Schwenger sold 1,126 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.01, for a total value of $270,251.26. Following the completion of the sale, the insider now directly owns 27,013 shares in the company, valued at approximately $6,483,390.13. The trade was a 4.00 % decrease in their position. The disclosure for this sale can be found here. 10.50% of the stock is owned by company insiders.

Veeva Systems Stock Up 0.9 %

VEEV stock opened at $216.67 on Friday. The stock has a 50-day simple moving average of $222.68 and a two-hundred day simple moving average of $209.23. 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 $35.18 billion, a PE ratio of 53.50, a PEG ratio of 1.91 and a beta of 0.84.

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.