Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Mirador Capital Partners LP

Mirador Capital Partners LP lowered its position in Veeva Systems Inc. (NYSE:VEEV) by 19.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,177 shares of the technology company’s stock after selling 1,700 shares during the quarter. Mirador Capital Partners LP’s holdings in Veeva Systems were worth $1,509,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Veeva Systems in the third quarter valued at $26,000. True Wealth Design LLC lifted its stake in shares of Veeva Systems by 3,375.0% during the third quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock worth $29,000 after purchasing an additional 135 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of Veeva Systems during the third quarter worth about $49,000. Fairscale Capital LLC acquired a new position in shares of Veeva Systems during the second quarter worth about $46,000. Finally, Quent Capital LLC lifted its stake in shares of Veeva Systems by 794.1% during the third quarter. Quent Capital LLC now owns 304 shares of the technology company’s stock worth $64,000 after purchasing an additional 270 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Stock Up 0.2 %

Shares of NYSE:VEEV opened at $212.13 on Thursday. The company’s fifty day moving average is $222.94 and its two-hundred day moving average is $209.17. Veeva Systems Inc. has a 12-month low of $170.25 and a 12-month high of $258.93. The company has a market cap of $34.44 billion, a P/E ratio of 52.38, a price-to-earnings-growth ratio of 1.91 and a beta of 0.84.

Analysts Set New Price Targets

A number of research analysts have commented on VEEV shares. Evercore ISI boosted their price objective on Veeva Systems from $220.00 to $245.00 and gave the stock an “in-line” rating in a research note on Friday, December 6th. Stephens started coverage on Veeva Systems in a research note on Friday, December 20th. They set an “overweight” rating and a $280.00 price objective on the stock. Morgan Stanley boosted their price objective on Veeva Systems from $183.00 to $195.00 and gave the stock an “underweight” rating in a research note on Tuesday, December 17th. Needham & Company LLC boosted their price objective on Veeva Systems from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, KeyCorp reduced their price objective on Veeva Systems from $285.00 to $255.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $255.74.

Insider Transactions at Veeva Systems

In other 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 value of $390,128.20. Following the transaction, the senior vice president now directly 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 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 company’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 completion of the transaction, the insider now directly 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 disclosure for this sale can be found here. 10.50% of the stock is currently owned by company insiders.

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.