Evergreen Capital Management LLC Raises Holdings in Veeva Systems Inc. (NYSE:VEEV)

Evergreen Capital Management LLC grew its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 2.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,563 shares of the technology company’s stock after acquiring an additional 579 shares during the quarter. Evergreen Capital Management LLC’s holdings in Veeva Systems were worth $4,954,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. increased its stake in Veeva Systems by 138.9% during the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock valued at $457,366,000 after purchasing an additional 1,267,061 shares in the last quarter. Smith Group Asset Management LLC increased its position in shares of Veeva Systems by 2.2% in the 4th quarter. Smith Group Asset Management LLC now owns 82,567 shares of the technology company’s stock valued at $17,360,000 after acquiring an additional 1,749 shares during the period. Everence Capital Management Inc. acquired a new position in shares of Veeva Systems in the 4th quarter valued at $816,000. Venturi Wealth Management LLC raised its stake in Veeva Systems by 2,716.7% in the 4th quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company’s stock worth $36,000 after acquiring an additional 163 shares during the last quarter. Finally, Nordea Investment Management AB lifted its position in Veeva Systems by 21.6% during the 4th quarter. Nordea Investment Management AB now owns 261,131 shares of the technology company’s stock worth $55,073,000 after acquiring an additional 46,440 shares during the period. 88.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 787 shares of Veeva Systems stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total transaction of $178,019.40. Following the transaction, the senior vice president now owns 8,668 shares of the company’s stock, valued at $1,960,701.60. The trade was a 8.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Thomas D. Schwenger sold 1,200 shares of the stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $220.97, for a total value of $265,164.00. Following the completion of the sale, the insider now directly owns 25,889 shares of the company’s stock, valued at $5,720,692.33. The trade was a 4.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,869 shares of company stock valued at $1,284,917 in the last ninety days. Insiders own 10.50% of the company’s stock.

Analyst Upgrades and Downgrades

VEEV has been the topic of a number of research reports. Needham & Company LLC reissued a “buy” rating and issued a $270.00 price objective on shares of Veeva Systems in a report on Thursday, March 6th. Robert W. Baird increased their price target on shares of Veeva Systems from $283.00 to $285.00 and gave the stock an “outperform” rating in a report on Thursday, March 6th. KeyCorp reduced their price target on shares of Veeva Systems from $260.00 to $250.00 and set an “overweight” rating for the company in a research report on Wednesday. The Goldman Sachs Group downgraded shares of Veeva Systems from a “buy” rating to a “sell” rating and dropped their price objective for the company from $261.00 to $200.00 in a report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. raised their target price on shares of Veeva Systems from $218.00 to $249.00 and gave the stock a “neutral” rating in a report on Thursday, March 20th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, Veeva Systems currently has an average rating of “Moderate Buy” and a consensus target price of $256.32.

Veeva Systems Price Performance

NYSE:VEEV opened at $221.01 on Thursday. Veeva Systems Inc. has a 12 month low of $170.25 and a 12 month high of $258.93. The business’s fifty day moving average price is $228.12 and its 200 day moving average price is $223.25. The firm has a market capitalization of $35.96 billion, a PE ratio of 54.57, a price-to-earnings-growth ratio of 1.89 and a beta of 1.05.

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.