Veeva Systems Inc. (NYSE:VEEV) Shares Acquired by TFB Advisors LLC

TFB Advisors LLC increased its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 2.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,542 shares of the technology company’s stock after buying an additional 84 shares during the quarter. TFB Advisors LLC’s holdings in Veeva Systems were worth $745,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted its position in Veeva Systems by 64.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company’s stock worth $744,084,000 after buying an additional 1,392,256 shares during the period. State Street Corp raised its holdings in Veeva Systems by 1.5% in the third quarter. State Street Corp now owns 3,293,141 shares of the technology company’s stock valued at $691,132,000 after acquiring an additional 47,872 shares in the last quarter. FMR LLC increased its holdings in Veeva Systems by 25.7% in the third quarter. FMR LLC now owns 2,981,244 shares of the technology company’s stock valued at $625,674,000 after buying an additional 610,021 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Veeva Systems by 5.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,765,236 shares of the technology company’s stock valued at $579,630,000 after acquiring an additional 149,807 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Veeva Systems by 73.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company’s stock worth $536,972,000 after buying an additional 1,081,501 shares during the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Insider Activity at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total value of $390,128.20. Following the transaction, the senior vice president now directly owns 8,061 shares in the company, valued at $1,856,448.30. This represents a 17.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 10.50% of the stock is currently owned by insiders.

Veeva Systems Stock Down 1.4 %

Shares of VEEV stock opened at $234.43 on Wednesday. The company’s fifty day simple moving average is $224.68 and its two-hundred day simple moving average is $215.12. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93. The stock has a market cap of $38.06 billion, a P/E ratio of 57.88, a PEG ratio of 1.97 and a beta of 0.85.

Analyst Ratings Changes

VEEV has been the topic of several analyst reports. Robert W. Baird raised their target price on Veeva Systems from $275.00 to $283.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Canaccord Genuity Group upped their price target on Veeva Systems from $210.00 to $270.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Royal Bank of Canada increased 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. KeyCorp reduced their price objective on Veeva Systems from $285.00 to $255.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Finally, Morgan Stanley increased their price target on shares of Veeva Systems from $183.00 to $195.00 and gave the stock an “underweight” rating in a research report on Tuesday, December 17th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $253.96.

Veeva Systems 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.