Union Bancaire Privee UBP SA Buys New Stake in Veeva Systems Inc. (NYSE:VEEV)

Union Bancaire Privee UBP SA purchased a new stake in Veeva Systems Inc. (NYSE:VEEV) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 17,266 shares of the technology company’s stock, valued at approximately $3,525,000.

Several other hedge funds also recently added to or reduced their stakes in VEEV. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Veeva Systems by 72.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock worth $25,000 after acquiring an additional 50 shares in the last quarter. Centricity Wealth Management LLC acquired a new position in shares of Veeva Systems in the 4th quarter valued at approximately $25,000. True Wealth Design LLC boosted its stake in shares of Veeva Systems by 3,375.0% during the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock valued at $29,000 after buying an additional 135 shares during the last quarter. Retirement Wealth Solutions LLC purchased a new position in shares of Veeva Systems during the 4th quarter valued at approximately $31,000. Finally, Avion Wealth grew its position in shares of Veeva Systems by 635.0% during the fourth quarter. Avion Wealth now owns 147 shares of the technology company’s stock worth $30,000 after buying an additional 127 shares in the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems Price Performance

VEEV stock opened at $226.10 on Friday. The firm has a market cap of $36.71 billion, a PE ratio of 55.83, a P/E/G ratio of 1.89 and a beta of 0.85. Veeva Systems Inc. has a 12 month low of $170.25 and a 12 month high of $258.93. The firm has a 50 day simple moving average of $223.76 and a 200 day simple moving average of $217.61.

Insider Activity

In other news, SVP Jonathan Faddis sold 1,694 shares of the company’s stock in a transaction 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 sale, the senior vice president now directly owns 8,061 shares of the company’s stock, valued at $1,856,448.30. This represents a 17.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 10.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on VEEV. Bank of America upped their target price on shares of Veeva Systems from $280.00 to $290.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Mizuho assumed coverage on Veeva Systems in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $275.00 target price for the company. Canaccord Genuity Group upped their price target on Veeva Systems from $210.00 to $270.00 and gave the company a “hold” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. lifted their price objective on shares of Veeva Systems from $208.00 to $218.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. Finally, Citigroup increased their target price on shares of Veeva Systems from $281.00 to $307.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $255.08.

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.