Allen Capital Group LLC Buys 1,077 Shares of Veeva Systems Inc. (NYSE:VEEV)

Allen Capital Group LLC increased its stake in Veeva Systems Inc. (NYSE:VEEV) by 9.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,120 shares of the technology company’s stock after acquiring an additional 1,077 shares during the quarter. Allen Capital Group LLC’s holdings in Veeva Systems were worth $2,548,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA boosted its holdings 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 worth $744,084,000 after buying an additional 1,392,256 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Veeva Systems by 138.9% in the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock worth $457,366,000 after purchasing an additional 1,267,061 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of 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 buying an additional 1,081,501 shares during the last quarter. FMR LLC lifted its holdings in Veeva Systems by 25.7% during the third quarter. FMR LLC now owns 2,981,244 shares of the technology company’s stock worth $625,674,000 after acquiring an additional 610,021 shares during the period. Finally, Seilern Investment Management Ltd bought a new position in shares of Veeva Systems during the 4th quarter valued at approximately $94,957,000. 88.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on VEEV. Guggenheim upped their target price on shares of Veeva Systems from $233.00 to $249.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Barclays raised their price target on Veeva Systems from $260.00 to $275.00 and gave the company an “overweight” rating in a report on Friday, December 6th. KeyCorp cut their target price on Veeva Systems from $285.00 to $255.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Royal Bank of Canada raised their price objective on Veeva Systems from $275.00 to $285.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Finally, StockNews.com lowered Veeva Systems from a “buy” rating to a “hold” rating in a research note on Thursday, January 23rd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $253.96.

Veeva Systems Price Performance

Shares of NYSE:VEEV opened at $231.35 on Wednesday. The firm’s 50 day simple moving average is $222.31 and its two-hundred day simple moving average is $211.88. The company has a market capitalization of $37.56 billion, a P/E ratio of 57.03, a P/E/G ratio of 2.01 and a beta of 0.84. Veeva Systems Inc. has a 1-year low of $170.25 and a 1-year high of $258.93.

Insider Activity at Veeva Systems

In related news, insider Thomas D. Schwenger sold 1,126 shares of the business’s stock in a transaction 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. The trade was a 4.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jonathan Faddis sold 1,694 shares of the stock in a transaction 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 completion of the sale, the senior vice president now owns 8,061 shares in the company, valued at approximately $1,856,448.30. The trade was 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.

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.