Veeva Systems Inc. (NYSE:VEEV) Shares Bought by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. increased its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 1.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,883 shares of the technology company’s stock after acquiring an additional 430 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Veeva Systems were worth $8,370,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of VEEV. Mather Group LLC. grew its holdings in Veeva Systems by 166.3% in the 2nd quarter. Mather Group LLC. now owns 253 shares of the technology company’s stock valued at $46,000 after buying an additional 158 shares in the last quarter. CWM LLC increased its stake in Veeva Systems by 41.5% during the second quarter. CWM LLC now owns 4,196 shares of the technology company’s stock worth $768,000 after acquiring an additional 1,230 shares during the last quarter. Simplicity Wealth LLC lifted its stake in shares of Veeva Systems by 1.7% in the 2nd quarter. Simplicity Wealth LLC now owns 4,029 shares of the technology company’s stock valued at $737,000 after purchasing an additional 69 shares during the last quarter. OLD National Bancorp IN grew its holdings in shares of Veeva Systems by 1.5% during the 2nd quarter. OLD National Bancorp IN now owns 48,969 shares of the technology company’s stock worth $8,962,000 after purchasing an additional 721 shares during the period. Finally, Lion Street Advisors LLC raised its holdings in Veeva Systems by 4.4% in the 2nd quarter. Lion Street Advisors LLC now owns 2,264 shares of the technology company’s stock valued at $414,000 after buying an additional 95 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Stock Performance

Shares of VEEV opened at $226.45 on Wednesday. The company has a market capitalization of $36.67 billion, a price-to-earnings ratio of 60.39, a price-to-earnings-growth ratio of 2.20 and a beta of 0.82. Veeva Systems Inc. has a fifty-two week low of $165.12 and a fifty-two week high of $240.68. The firm has a 50-day simple moving average of $216.41 and a 200-day simple moving average of $202.16.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. BNP Paribas assumed coverage on shares of Veeva Systems in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $286.00 price target on the stock. JPMorgan Chase & Co. lifted their target price on Veeva Systems from $203.00 to $208.00 and gave the company a “neutral” rating in a research report on Monday, September 9th. UBS Group lifted their price objective on shares of Veeva Systems from $185.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, August 26th. Citigroup upped their price target on Veeva Systems from $256.00 to $273.00 and gave the stock a “buy” rating in a report on Tuesday, August 27th. Finally, StockNews.com upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $236.92.

Insider Activity

In related news, insider Thomas D. Schwenger sold 1,126 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.01, for a total transaction of $270,251.26. Following the completion of the transaction, the insider now directly owns 27,013 shares of the company’s stock, valued at $6,483,390.13. This represents a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 10.50% of the company’s stock.

Veeva Systems Company 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.