Veeva Systems Inc. (NYSE:VEEV) Shares Purchased by 17 Capital Partners LLC

17 Capital Partners LLC grew its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 9.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,783 shares of the technology company’s stock after purchasing an additional 155 shares during the quarter. 17 Capital Partners LLC’s holdings in Veeva Systems were worth $375,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of VEEV. Patriot Financial Group Insurance Agency LLC raised its stake in Veeva Systems by 0.7% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 6,924 shares of the technology company’s stock worth $1,453,000 after acquiring an additional 48 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its position in shares of Veeva Systems by 1.2% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,307 shares of the technology company’s stock worth $904,000 after purchasing an additional 50 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings 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 last quarter. CHICAGO TRUST Co NA boosted its position in shares of Veeva Systems by 2.9% in the 4th quarter. CHICAGO TRUST Co NA now owns 1,880 shares of the technology company’s stock valued at $395,000 after purchasing an additional 53 shares during the period. Finally, Old North State Wealth Management LLC grew its stake in Veeva Systems by 0.4% during the 4th quarter. Old North State Wealth Management LLC now owns 15,351 shares of the technology company’s stock worth $3,228,000 after buying an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Performance

Veeva Systems stock opened at $237.16 on Friday. The firm has a market capitalization of $38.50 billion, a price-to-earnings ratio of 58.56, a price-to-earnings-growth ratio of 1.97 and a beta of 0.85. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93. The stock’s fifty day moving average is $224.48 and its two-hundred day moving average is $214.35.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Truist Financial reduced their price objective on Veeva Systems from $261.00 to $210.00 and set a “hold” rating for the company in a research note on Monday, January 13th. 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 note on Tuesday, December 17th. Robert W. Baird raised their price objective on shares of Veeva Systems from $275.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Canaccord Genuity Group upped their target price 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. Finally, StockNews.com lowered Veeva Systems from a “buy” rating to a “hold” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have assigned 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 $253.96.

Insider Buying and Selling at Veeva Systems

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

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.