Linden Thomas Advisory Services LLC Buys 116 Shares of Veeva Systems Inc. (NYSE:VEEV)

Linden Thomas Advisory Services LLC increased its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 1.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 12,088 shares of the technology company’s stock after purchasing an additional 116 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in Veeva Systems were worth $2,542,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Fifth Third Bancorp boosted its stake in Veeva Systems by 1.2% during the fourth quarter. Fifth Third Bancorp now owns 8,541 shares of the technology company’s stock worth $1,796,000 after buying an additional 101 shares during the period. Exchange Traded Concepts LLC lifted its holdings in shares of Veeva Systems by 2.8% in the 4th quarter. Exchange Traded Concepts LLC now owns 13,273 shares of the technology company’s stock worth $2,791,000 after acquiring an additional 357 shares during the last quarter. Inspire Investing LLC boosted its stake in shares of Veeva Systems by 18.1% during the 4th quarter. Inspire Investing LLC now owns 19,435 shares of the technology company’s stock worth $4,086,000 after purchasing an additional 2,985 shares during the period. Wendell David Associates Inc. grew its holdings in Veeva Systems by 951.4% during the 4th quarter. Wendell David Associates Inc. now owns 11,313 shares of the technology company’s stock valued at $2,379,000 after purchasing an additional 10,237 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in Veeva Systems by 146.5% during the 4th quarter. SG Americas Securities LLC now owns 13,792 shares of the technology company’s stock valued at $2,900,000 after purchasing an additional 8,198 shares during the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on VEEV shares. Stifel Nicolaus boosted their target price on Veeva Systems from $240.00 to $272.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Canaccord Genuity Group boosted their price objective on Veeva Systems from $210.00 to $270.00 and gave the company a “hold” rating in a report on Friday, December 6th. Morgan Stanley increased their target price on Veeva Systems from $183.00 to $195.00 and gave the stock an “underweight” rating in a research note on Tuesday, December 17th. Wells Fargo & Company lifted their target price on Veeva Systems from $275.00 to $285.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Finally, Bank of America upped their price target on shares of Veeva Systems from $280.00 to $290.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $253.96.

Veeva Systems Stock Performance

VEEV stock opened at $223.37 on Friday. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93. The firm has a market cap of $36.26 billion, a price-to-earnings ratio of 55.15, a PEG ratio of 2.01 and a beta of 0.84. The firm has a 50-day simple moving average of $221.63 and a two-hundred day simple moving average of $210.89.

Insider Activity at Veeva Systems

In related news, insider Thomas D. Schwenger sold 1,126 shares of Veeva Systems stock in a transaction that occurred on 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 $6,483,390.13. This trade represents a 4.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Jonathan Faddis sold 1,694 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total transaction of $390,128.20. Following the transaction, the senior vice president now owns 8,061 shares in the company, valued at $1,856,448.30. The trade was a 17.37 % decrease in their position. The disclosure for this sale can be found here. 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.