Clear Harbor Asset Management LLC Acquires 335 Shares of Veeva Systems Inc. (NYSE:VEEV)

Clear Harbor Asset Management LLC raised its stake in Veeva Systems Inc. (NYSE:VEEV) by 4.0% in the 4th quarter, HoldingsChannel reports. The firm owned 8,800 shares of the technology company’s stock after acquiring an additional 335 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Veeva Systems were worth $1,850,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. General American Investors Co. Inc. bought a new stake in Veeva Systems during the 3rd quarter valued at $5,133,000. Toronto Dominion Bank increased its position in shares of Veeva Systems by 39.1% during the third quarter. Toronto Dominion Bank now owns 20,180 shares of the technology company’s stock worth $4,235,000 after acquiring an additional 5,673 shares in the last quarter. Procyon Advisors LLC acquired a new stake in shares of Veeva Systems in the 3rd quarter worth about $712,000. Principal Financial Group Inc. lifted its position in Veeva Systems by 138.9% in 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 acquiring an additional 1,267,061 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its stake in Veeva Systems by 3.6% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 78,000 shares of the technology company’s stock valued at $16,370,000 after purchasing an additional 2,733 shares during the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Stock Up 0.9 %

Shares of VEEV stock opened at $216.67 on Tuesday. The business has a 50-day moving average price of $222.31 and a two-hundred day moving average price of $209.86. Veeva Systems Inc. has a 12-month low of $170.25 and a 12-month high of $258.93. The firm has a market cap of $35.18 billion, a P/E ratio of 53.50, a price-to-earnings-growth ratio of 1.90 and a beta of 0.84.

Analyst Ratings Changes

VEEV has been the topic of a number of recent research reports. BNP Paribas started coverage on Veeva Systems in a report on Tuesday, October 8th. They issued an “outperform” rating and a $286.00 target price on the stock. Canaccord Genuity Group boosted their price target on shares of Veeva Systems from $210.00 to $270.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Evercore ISI raised their price objective on shares of Veeva Systems from $220.00 to $245.00 and gave the stock an “in-line” rating in a report on Friday, December 6th. Morgan Stanley boosted their target price on shares of Veeva Systems from $183.00 to $195.00 and gave the company an “underweight” rating in a research note on Tuesday, December 17th. Finally, Barclays raised their price target on shares of Veeva Systems from $260.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $255.74.

Insiders Place Their Bets

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of Veeva Systems stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total value of $390,128.20. Following the transaction, the senior vice president now directly owns 8,061 shares of the company’s stock, valued at $1,856,448.30. The trade was a 17.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas D. Schwenger sold 1,126 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $240.01, for a total transaction of $270,251.26. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders own 10.50% of the company’s stock.

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.