DF Dent & Co. Inc. Sells 59,461 Shares of Veeva Systems Inc. (NYSE:VEEV)

DF Dent & Co. Inc. lessened its position in Veeva Systems Inc. (NYSE:VEEV) by 6.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 834,567 shares of the technology company’s stock after selling 59,461 shares during the period. Veeva Systems accounts for 2.1% of DF Dent & Co. Inc.’s investment portfolio, making the stock its 18th biggest position. DF Dent & Co. Inc.’s holdings in Veeva Systems were worth $175,151,000 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. Massachusetts Financial Services Co. MA boosted its stake in shares of Veeva Systems by 64.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company’s stock valued at $744,084,000 after purchasing an additional 1,392,256 shares in the last quarter. State Street Corp boosted its stake in shares of Veeva Systems by 1.5% during the 3rd quarter. State Street Corp now owns 3,293,141 shares of the technology company’s stock valued at $691,132,000 after purchasing an additional 47,872 shares in the last quarter. FMR LLC boosted its stake in shares of Veeva Systems by 25.7% during the 3rd quarter. FMR LLC now owns 2,981,244 shares of the technology company’s stock valued at $625,674,000 after purchasing an additional 610,021 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of 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. Finally, Van ECK Associates Corp boosted its stake in shares of Veeva Systems by 3.7% during the 3rd quarter. Van ECK Associates Corp now owns 1,995,006 shares of the technology company’s stock valued at $434,372,000 after purchasing an additional 71,525 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Up 8.1 %

Shares of Veeva Systems stock opened at $250.45 on Friday. The company has a market cap of $40.56 billion, a price-to-earnings ratio of 61.84, a price-to-earnings-growth ratio of 2.30 and a beta of 0.82. The company’s 50 day moving average is $217.50 and its 200 day moving average is $202.61. Veeva Systems Inc. has a twelve month low of $165.12 and a twelve month high of $258.93.

Insider Activity at Veeva Systems

In related news, insider Thomas D. Schwenger sold 1,126 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $240.01, for a total transaction of $270,251.26. Following the transaction, the insider now owns 27,013 shares in the company, valued at $6,483,390.13. This represents a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jonathan Faddis sold 1,694 shares of the 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 approximately $1,856,448.30. This trade represents a 17.37 % decrease in their position. The disclosure for this sale can be found here. 10.50% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Needham & Company LLC lifted their target price on shares of Veeva Systems from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Friday. Robert W. Baird boosted their price objective on shares of Veeva Systems from $275.00 to $283.00 and gave the stock an “outperform” rating in a research note on Friday. StockNews.com raised shares of Veeva Systems from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Canaccord Genuity Group boosted their price objective on shares of Veeva Systems from $210.00 to $270.00 and gave the stock a “hold” rating in a research note on Friday. Finally, TD Cowen boosted their price objective on shares of Veeva Systems from $180.00 to $192.00 and gave the stock a “hold” rating in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, Veeva Systems currently has an average rating of “Moderate Buy” and an average price target of $254.04.

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.