Boston Trust Walden Corp Takes Position in Veeva Systems Inc. (NYSE:VEEV)

Boston Trust Walden Corp purchased a new position in Veeva Systems Inc. (NYSE:VEEV) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 37,880 shares of the technology company’s stock, valued at approximately $7,964,000.

Several other institutional investors have also bought and sold shares of the company. Sanctuary Advisors LLC bought a new stake in shares of Veeva Systems in the second quarter valued at approximately $1,231,000. Centaurus Financial Inc. raised its holdings in Veeva Systems by 69.2% during the 2nd quarter. Centaurus Financial Inc. now owns 1,042 shares of the technology company’s stock valued at $191,000 after acquiring an additional 426 shares during the period. SG Americas Securities LLC lifted its position in shares of Veeva Systems by 667.4% during the third quarter. SG Americas Securities LLC now owns 5,594 shares of the technology company’s stock worth $1,174,000 after acquiring an additional 4,865 shares in the last quarter. Quent Capital LLC boosted its holdings in shares of Veeva Systems by 794.1% in the third quarter. Quent Capital LLC now owns 304 shares of the technology company’s stock worth $64,000 after acquiring an additional 270 shares during the period. Finally, Handelsbanken Fonder AB grew its position in shares of Veeva Systems by 4.8% in the third quarter. Handelsbanken Fonder AB now owns 35,671 shares of the technology company’s stock valued at $7,486,000 after purchasing an additional 1,646 shares in the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Insider Transactions at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total transaction of $390,128.20. Following the completion of the transaction, the senior vice president now owns 8,061 shares of the company’s stock, valued at $1,856,448.30. This represents a 17.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Thomas D. Schwenger sold 1,126 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $240.01, for a total value of $270,251.26. Following the transaction, the insider now directly owns 27,013 shares in the company, valued at $6,483,390.13. This trade represents a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 10.50% of the company’s stock.

Wall Street Analysts Forecast Growth

VEEV has been the subject of several analyst reports. Morgan Stanley raised their target price on Veeva Systems from $183.00 to $195.00 and gave the stock an “underweight” rating in a research note on Tuesday, December 17th. Stephens began coverage on shares of Veeva Systems in a research note on Friday, December 20th. They set an “overweight” rating and a $280.00 price objective for the company. Evercore ISI increased their target price on shares of Veeva Systems from $220.00 to $245.00 and gave the stock an “in-line” rating in a research note on Friday, December 6th. StockNews.com lowered shares of Veeva Systems from a “buy” rating to a “hold” rating in a research report on Thursday, January 23rd. Finally, Royal Bank of Canada upped their price target on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $253.96.

Veeva Systems Price Performance

VEEV opened at $233.38 on Tuesday. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93. The stock’s 50 day simple moving average is $223.55 and its 200 day simple moving average is $212.93. The firm has a market cap of $37.89 billion, a price-to-earnings ratio of 57.63, a PEG ratio of 2.05 and a beta of 0.85.

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.