Foundations Investment Advisors LLC Raises Holdings in Veeva Systems Inc. (NYSE:VEEV)

Foundations Investment Advisors LLC boosted its stake in shares of Veeva Systems Inc. (NYSE:VEEVFree Report) by 17.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,947 shares of the technology company’s stock after buying an additional 439 shares during the period. Foundations Investment Advisors LLC’s holdings in Veeva Systems were worth $620,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in VEEV. Pacer Advisors Inc. grew its position in shares of Veeva Systems by 442.6% in the 4th quarter. Pacer Advisors Inc. now owns 25,902 shares of the technology company’s stock worth $5,446,000 after buying an additional 21,128 shares during the last quarter. KBC Group NV boosted its stake in Veeva Systems by 21.0% in the fourth quarter. KBC Group NV now owns 52,790 shares of the technology company’s stock valued at $11,099,000 after acquiring an additional 9,161 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in shares of Veeva Systems during the fourth quarter worth $3,525,000. Blue Trust Inc. increased its position in shares of Veeva Systems by 28.0% during the fourth quarter. Blue Trust Inc. now owns 1,262 shares of the technology company’s stock worth $265,000 after purchasing an additional 276 shares in the last quarter. Finally, First Citizens Bank & Trust Co. purchased a new stake in shares of Veeva Systems during the 4th quarter valued at $210,000. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

VEEV has been the topic of several recent analyst reports. Morgan Stanley upped their target price on Veeva Systems from $183.00 to $195.00 and gave the company an “underweight” rating in a research report on Tuesday, December 17th. KeyCorp cut their price objective on shares of Veeva Systems from $285.00 to $255.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Stifel Nicolaus boosted their target price on shares of Veeva Systems from $240.00 to $272.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Royal Bank of Canada raised their price target on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Finally, StockNews.com lowered shares of Veeva Systems from a “buy” rating to a “hold” rating in a report on Thursday, January 23rd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $253.96.

Check Out Our Latest Analysis on Veeva Systems

Veeva Systems Trading Up 2.2 %

Shares of VEEV stock opened at $237.31 on Friday. Veeva Systems Inc. has a 12-month low of $170.25 and a 12-month high of $258.93. The business’s 50 day moving average is $222.75 and its two-hundred day moving average is $212.03. The company has a market capitalization of $38.53 billion, a P/E ratio of 58.60, a P/E/G ratio of 2.01 and a beta of 0.84.

Insider Activity at Veeva Systems

In other news, insider Thomas D. Schwenger sold 1,126 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $240.01, for a total value of $270,251.26. Following the transaction, the insider now 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Jonathan Faddis sold 1,694 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president now owns 8,061 shares of the company’s stock, 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 corporate insiders.

Veeva Systems Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Veeva Systems (NYSE:VEEV)

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