Rockland Trust Co. Increases Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Rockland Trust Co. lifted its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 5.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 112,764 shares of the technology company’s stock after buying an additional 5,322 shares during the period. Veeva Systems comprises 1.2% of Rockland Trust Co.’s investment portfolio, making the stock its 29th biggest holding. Rockland Trust Co. owned approximately 0.07% of Veeva Systems worth $23,709,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the business. Patriot Financial Group Insurance Agency LLC lifted its position in shares of Veeva Systems by 0.7% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 6,924 shares of the technology company’s stock valued at $1,453,000 after acquiring an additional 48 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its holdings in Veeva Systems by 1.2% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,307 shares of the technology company’s stock worth $904,000 after purchasing an additional 50 shares during the last quarter. Clearbridge Investments LLC boosted its position in Veeva Systems by 0.4% during the second quarter. Clearbridge Investments LLC now owns 11,682 shares of the technology company’s stock worth $2,138,000 after purchasing an additional 52 shares in the last quarter. CHICAGO TRUST Co NA grew its holdings in Veeva Systems by 2.9% in the fourth quarter. CHICAGO TRUST Co NA now owns 1,880 shares of the technology company’s stock valued at $395,000 after purchasing an additional 53 shares during the last quarter. Finally, Park Place Capital Corp increased its position in shares of Veeva Systems by 11.5% in the third quarter. Park Place Capital Corp now owns 574 shares of the technology company’s stock valued at $120,000 after buying an additional 59 shares in the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Trading Down 1.0 %

Shares of NYSE:VEEV opened at $210.81 on Wednesday. The firm’s 50 day moving average is $222.94 and its two-hundred day moving average is $209.17. The firm has a market capitalization of $34.23 billion, a P/E ratio of 52.05, a PEG ratio of 2.03 and a beta of 0.84. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93.

Wall Street Analyst Weigh In

A number of brokerages recently commented on VEEV. Needham & Company LLC increased their price objective on shares of Veeva Systems from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, December 6th. StockNews.com upgraded Veeva Systems from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. Mizuho began coverage on Veeva Systems in a report on Wednesday, December 4th. They issued an “outperform” rating and a $275.00 price target for the company. Morgan Stanley upped their price objective on Veeva Systems from $183.00 to $195.00 and gave the company an “underweight” rating in a research report on Tuesday, December 17th. Finally, Wells Fargo & Company lifted their price objective on Veeva Systems from $275.00 to $285.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $255.74.

Insider Buying and Selling at Veeva Systems

In other news, insider Thomas D. Schwenger sold 1,126 shares of the company’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 completion of the sale, the insider now directly owns 27,013 shares of the company’s stock, valued at approximately $6,483,390.13. This represents a 4.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 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 trade represents a 17.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.50% of the stock is owned by company insiders.

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.