Trust Co of Kansas Boosts Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Trust Co of Kansas boosted its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 2.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,404 shares of the technology company’s stock after acquiring an additional 683 shares during the quarter. Veeva Systems accounts for approximately 2.7% of Trust Co of Kansas’ investment portfolio, making the stock its 17th biggest position. Trust Co of Kansas’ holdings in Veeva Systems were worth $5,551,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of VEEV. General American Investors Co. Inc. purchased a new stake in shares of Veeva Systems during the third quarter worth $5,133,000. Toronto Dominion Bank increased its holdings in Veeva Systems by 39.1% during the 3rd quarter. Toronto Dominion Bank now owns 20,180 shares of the technology company’s stock worth $4,235,000 after purchasing an additional 5,673 shares during the period. Procyon Advisors LLC acquired a new stake in Veeva Systems in the 3rd quarter valued at about $712,000. Principal Financial Group Inc. boosted its stake in shares of Veeva Systems by 138.9% in the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock valued at $457,366,000 after buying an additional 1,267,061 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its position in shares of Veeva Systems by 3.6% during the third quarter. Oppenheimer Asset Management Inc. now owns 78,000 shares of the technology company’s stock worth $16,370,000 after buying an additional 2,733 shares in the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Stock Performance

Shares of VEEV opened at $216.67 on Friday. The stock has a market capitalization of $35.18 billion, a P/E ratio of 53.50, a P/E/G ratio of 1.91 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. The company’s fifty day moving average is $222.68 and its two-hundred day moving average is $209.23.

Insider Activity

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total value of $390,128.20. Following the completion of the transaction, the senior vice president now owns 8,061 shares in the company, valued at approximately $1,856,448.30. This represents a 17.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Thomas D. Schwenger sold 1,126 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $240.01, for a total transaction of $270,251.26. Following the sale, the insider now owns 27,013 shares in the company, valued at $6,483,390.13. The trade was a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 10.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Royal Bank of Canada raised their target price on shares of Veeva Systems from $275.00 to $285.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Citigroup lifted their price objective on shares of Veeva Systems from $281.00 to $307.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Morgan Stanley increased their target price on Veeva Systems from $183.00 to $195.00 and gave the company an “underweight” rating in a report on Tuesday, December 17th. Robert W. Baird raised their price target on Veeva Systems from $275.00 to $283.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $270.00 price objective on shares of Veeva Systems in a research report on Friday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Veeva Systems has an average rating of “Moderate Buy” and an average price target of $255.74.

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.