CGN Advisors LLC Increases Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

CGN Advisors LLC raised its stake in Veeva Systems Inc. (NYSE:VEEV) by 11.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,406 shares of the technology company’s stock after purchasing an additional 1,168 shares during the period. CGN Advisors LLC’s holdings in Veeva Systems were worth $2,398,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. Premier Path Wealth Partners LLC raised its position in shares of Veeva Systems by 5.6% during the 4th quarter. Premier Path Wealth Partners LLC now owns 1,525 shares of the technology company’s stock worth $321,000 after acquiring an additional 81 shares in the last quarter. Alhambra Investment Management LLC purchased a new stake in Veeva Systems during the 4th quarter valued at approximately $259,000. Arkadios Wealth Advisors raised its position in Veeva Systems by 1.9% during the 4th quarter. Arkadios Wealth Advisors now owns 3,112 shares of the technology company’s stock worth $654,000 after buying an additional 58 shares during the last quarter. Trust Co of Kansas lifted its stake in shares of Veeva Systems by 2.7% in the fourth quarter. Trust Co of Kansas now owns 26,404 shares of the technology company’s stock valued at $5,551,000 after purchasing an additional 683 shares during the period. Finally, Retirement Wealth Solutions LLC acquired a new stake in shares of Veeva Systems in the fourth quarter valued at about $31,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insider Transactions at Veeva Systems

In other news, SVP Jonathan Faddis sold 1,694 shares of Veeva Systems stock in a transaction that occurred 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 owns 8,061 shares of the company’s stock, valued at $1,856,448.30. The trade was a 17.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Thomas D. Schwenger sold 1,126 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 27,013 shares of the company’s stock, valued at approximately $6,483,390.13. This represents a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 10.50% of the company’s stock.

Veeva Systems Stock Up 0.9 %

Veeva Systems stock opened at $216.67 on Friday. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93. The firm has a market capitalization of $35.18 billion, a price-to-earnings ratio of 53.50, a PEG ratio of 1.91 and a beta of 0.84. The firm has a 50-day moving average price of $222.68 and a two-hundred day moving average price of $209.23.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on VEEV. Stephens assumed coverage on shares of Veeva Systems in a research report on Friday, December 20th. They set an “overweight” rating and a $280.00 price target for the company. Citigroup upped their price target on shares of Veeva Systems from $281.00 to $307.00 and gave the company a “buy” rating in a report on Monday, December 9th. Morgan Stanley increased their price objective on Veeva Systems from $183.00 to $195.00 and gave the company an “underweight” rating in a research note on Tuesday, December 17th. Mizuho initiated coverage on shares of Veeva Systems in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $275.00 price objective for the company. Finally, Guggenheim raised their price objective on Veeva Systems from $233.00 to $249.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $255.74.

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.