Liberty Capital Management Inc. Sells 53 Shares of Veeva Systems Inc. (NYSE:VEEV)

Liberty Capital Management Inc. lowered its position in Veeva Systems Inc. (NYSE:VEEV) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,884 shares of the technology company’s stock after selling 53 shares during the quarter. Liberty Capital Management Inc.’s holdings in Veeva Systems were worth $1,237,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in VEEV. Massachusetts Financial Services Co. MA grew its position in shares of Veeva Systems by 64.7% in 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 during the last quarter. Principal Financial Group Inc. grew its holdings in 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. increased 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 worth $536,972,000 after purchasing an additional 1,081,501 shares in the last quarter. FMR LLC increased its position in shares of 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 purchasing an additional 610,021 shares in the last quarter. Finally, Seilern Investment Management Ltd purchased a new stake in shares of Veeva Systems during the 4th quarter valued at $94,957,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on VEEV. JPMorgan Chase & Co. raised their price objective on Veeva Systems from $208.00 to $218.00 and gave the stock a “neutral” rating in a research note on Monday, December 16th. Canaccord Genuity Group upped their price objective on shares of Veeva Systems from $210.00 to $270.00 and gave the company a “hold” rating in a report on Friday, December 6th. Stephens assumed coverage on shares of Veeva Systems in a report on Friday, December 20th. They set an “overweight” rating and a $280.00 target price for the company. Mizuho began coverage on shares of Veeva Systems in a research report on Wednesday, December 4th. They set an “outperform” rating and a $275.00 target price for the company. Finally, Evercore ISI increased their price target on Veeva Systems from $220.00 to $245.00 and gave the stock an “in-line” rating in a research report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $253.96.

Veeva Systems Stock Down 0.9 %

Shares of NYSE:VEEV opened at $237.16 on Monday. The company has a market cap of $38.50 billion, a price-to-earnings ratio of 58.56, a PEG ratio of 1.97 and a beta of 0.85. The firm’s 50-day simple moving average is $224.48 and its 200-day simple moving average is $214.55. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93.

Insider Activity

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total value of $390,128.20. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 10.50% of the company’s stock.

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.