Paragon Advisors LLC Has $2.89 Million Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Paragon Advisors LLC decreased its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 20.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 13,745 shares of the technology company’s stock after selling 3,538 shares during the quarter. Paragon Advisors LLC’s holdings in Veeva Systems were worth $2,890,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Patriot Financial Group Insurance Agency LLC boosted its holdings in Veeva Systems by 0.7% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 6,924 shares of the technology company’s stock valued at $1,453,000 after purchasing an additional 48 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its position in shares of Veeva Systems by 1.2% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,307 shares of the technology company’s stock valued at $904,000 after buying an additional 50 shares in the last quarter. Clearbridge Investments LLC boosted its stake in shares of Veeva Systems by 0.4% in the second quarter. Clearbridge Investments LLC now owns 11,682 shares of the technology company’s stock valued at $2,138,000 after buying an additional 52 shares during the period. Park Place Capital Corp grew its position in Veeva Systems by 11.5% during the third quarter. Park Place Capital Corp now owns 574 shares of the technology company’s stock worth $120,000 after buying an additional 59 shares in the last quarter. Finally, Quintet Private Bank Europe S.A. increased its stake in Veeva Systems by 13.4% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 516 shares of the technology company’s stock worth $108,000 after acquiring an additional 61 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insider Activity

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of the company’s stock in a transaction 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 sale, the senior vice president now owns 8,061 shares of the company’s stock, valued at approximately $1,856,448.30. This represents a 17.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Thomas D. Schwenger sold 1,126 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $240.01, for a total value of $270,251.26. Following the sale, the insider now owns 27,013 shares of the company’s stock, valued at approximately $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.

Veeva Systems Stock Up 0.4 %

Shares of NYSE:VEEV opened at $218.08 on Monday. The firm has a market cap of $35.41 billion, a P/E ratio of 53.85, a P/E/G ratio of 2.03 and a beta of 0.84. Veeva Systems Inc. has a 12-month low of $170.25 and a 12-month high of $258.93. The business has a fifty day simple moving average of $222.97 and a 200 day simple moving average of $208.78.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Barclays upped their target price on Veeva Systems from $260.00 to $275.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Scotiabank increased their price objective on shares of Veeva Systems from $235.00 to $240.00 and gave the stock a “sector perform” rating in a research note on Friday, December 6th. Mizuho started coverage on shares of Veeva Systems in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $275.00 target price for the company. Bank of America upped their price target on shares of Veeva Systems from $280.00 to $290.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Finally, BNP Paribas initiated coverage on shares of Veeva Systems in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $286.00 price objective on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $257.63.

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.