Dakota Wealth Management Purchases Shares of 6,998 Veeva Systems Inc. (NYSE:VEEV)

Dakota Wealth Management purchased a new stake in shares of Veeva Systems Inc. (NYSE:VEEV) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 6,998 shares of the technology company’s stock, valued at approximately $1,471,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of VEEV. MassMutual Private Wealth & Trust FSB increased its stake in Veeva Systems by 72.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock valued at $25,000 after purchasing an additional 50 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Veeva Systems in the 3rd quarter worth $26,000. True Wealth Design LLC grew its stake in shares of Veeva Systems by 3,375.0% in the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock worth $29,000 after acquiring an additional 135 shares in the last quarter. Retirement Wealth Solutions LLC bought a new stake in shares of Veeva Systems in the 4th quarter worth $31,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Veeva Systems in the 3rd quarter worth $49,000. Institutional investors own 88.20% of the company’s stock.

Insider Buying and Selling

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $240.01, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction, the senior vice president now owns 8,061 shares in the company, valued at $1,856,448.30. The trade was 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.

Veeva Systems Trading Down 2.5 %

VEEV stock opened at $223.23 on Friday. The company’s 50 day moving average is $221.55 and its 200 day moving average is $210.52. The stock has a market cap of $36.24 billion, a price-to-earnings ratio of 55.12, a price-to-earnings-growth ratio of 1.96 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.

Wall Street Analysts Forecast Growth

VEEV has been the subject of several recent analyst reports. Stifel Nicolaus upped their target price on shares of Veeva Systems from $240.00 to $272.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. KeyCorp reduced their target price on shares of Veeva Systems from $285.00 to $255.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Barclays boosted their price target on shares of Veeva Systems from $260.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Guggenheim boosted their price target 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. Finally, The Goldman Sachs Group downgraded shares of Veeva Systems from a “buy” rating to a “sell” rating and cut their price target for the stock from $261.00 to $200.00 in a report on Thursday. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $253.96.

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.