Fiduciary Trust Co Boosts Stake in Veeva Systems Inc. (NYSE:VEEV)

Fiduciary Trust Co raised its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 8.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 8,995 shares of the technology company’s stock after purchasing an additional 706 shares during the quarter. Fiduciary Trust Co’s holdings in Veeva Systems were worth $1,891,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in VEEV. Barclays PLC raised its position in shares of Veeva Systems by 18.2% during the 3rd quarter. Barclays PLC now owns 185,206 shares of the technology company’s stock valued at $38,870,000 after buying an additional 28,497 shares in the last quarter. JPMorgan Chase & Co. raised its position in Veeva Systems by 73.2% during the third quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company’s stock valued at $536,972,000 after purchasing an additional 1,081,501 shares during the period. Baker Tilly Wealth Management LLC lifted its stake in shares of Veeva Systems by 22.6% in the 4th quarter. Baker Tilly Wealth Management LLC now owns 1,510 shares of the technology company’s stock valued at $317,000 after purchasing an additional 278 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Veeva Systems by 0.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 14,308 shares of the technology company’s stock valued at $3,003,000 after purchasing an additional 68 shares during the last quarter. Finally, Aprio Wealth Management LLC purchased a new position in shares of Veeva Systems in the 4th quarter worth approximately $202,000. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Trading Down 1.2 %

Shares of NYSE:VEEV opened at $236.60 on Friday. The company has a market capitalization of $38.49 billion, a PE ratio of 58.42, a P/E/G ratio of 1.89 and a beta of 0.96. Veeva Systems Inc. has a 12-month low of $170.25 and a 12-month high of $258.93. The business’s fifty day simple moving average is $227.98 and its 200-day simple moving average is $225.30.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, Director Timothy S. Cabral sold 3,882 shares of Veeva Systems stock in a transaction on Friday, April 4th. The shares were sold at an average price of $216.83, for a total value of $841,734.06. Following the transaction, the director now directly owns 5,500 shares of the company’s stock, valued at approximately $1,192,565. The trade was a 41.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jonathan Faddis sold 787 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total value of $178,019.40. Following the sale, the senior vice president now owns 8,668 shares of the company’s stock, valued at approximately $1,960,701.60. This represents a 8.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,869 shares of company stock worth $1,284,917 over the last quarter. Insiders own 10.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on VEEV. KeyCorp lowered their price target on Veeva Systems from $260.00 to $250.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Robert W. Baird lifted their price target on shares of Veeva Systems from $283.00 to $285.00 and gave the stock an “outperform” rating in a research note on Thursday, March 6th. Stephens reissued an “overweight” rating and issued a $280.00 price objective on shares of Veeva Systems in a research report on Thursday, March 6th. Truist Financial boosted their target price on Veeva Systems from $210.00 to $217.00 and gave the company a “hold” rating in a research report on Thursday, March 6th. Finally, Scotiabank increased their price target on Veeva Systems from $240.00 to $245.00 and gave the stock a “sector perform” rating in a report on Thursday, March 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Veeva Systems currently has an average rating of “Moderate Buy” and a consensus target price of $254.92.

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.