Cardinal Capital Management Increases Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Cardinal Capital Management increased its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 0.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,727 shares of the technology company’s stock after purchasing an additional 44 shares during the period. Cardinal Capital Management’s holdings in Veeva Systems were worth $3,307,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Veeva Systems by 72.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock worth $25,000 after purchasing an additional 50 shares during the period. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Veeva Systems in the third quarter valued at about $26,000. True Wealth Design LLC boosted its stake 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 during the period. Retirement Wealth Solutions LLC acquired a new stake in shares of Veeva Systems during the fourth quarter valued at about $31,000. Finally, Avion Wealth increased its position in shares of Veeva Systems by 635.0% during the fourth quarter. Avion Wealth now owns 147 shares of the technology company’s stock valued at $30,000 after acquiring an additional 127 shares during the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on VEEV shares. Evercore ISI lifted their target price on shares of Veeva Systems from $220.00 to $245.00 and gave the company an “in-line” rating in a report on Friday, December 6th. Canaccord Genuity Group lifted their price objective on Veeva Systems from $210.00 to $270.00 and gave the company a “hold” rating in a research note 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. Piper Sandler lifted their target price on Veeva Systems from $280.00 to $290.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Finally, Citigroup increased their price target on shares of Veeva Systems from $281.00 to $307.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Veeva Systems currently has a consensus rating of “Moderate Buy” and an average target price of $253.96.

Veeva Systems Trading Down 0.0 %

VEEV stock opened at $234.09 on Tuesday. The stock has a market cap of $38.00 billion, a P/E ratio of 57.80, a PEG ratio of 1.97 and a beta of 0.85. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93. The company’s 50 day moving average is $224.48 and its two-hundred day moving average is $216.29.

Insider Buying and Selling

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of the firm’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 transaction, the senior vice president now owns 8,061 shares of the company’s stock, valued at approximately $1,856,448.30. This trade represents a 17.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 10.50% of the stock is owned by company insiders.

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.