Trust Co. of Vermont increased its position in shares of Veeva Systems Inc. (NYSE:VEEV – Free Report) by 157.8% during the 4th quarter, HoldingsChannel reports. The fund owned 1,111 shares of the technology company’s stock after acquiring an additional 680 shares during the quarter. Trust Co. of Vermont’s holdings in Veeva Systems were worth $234,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings 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 last quarter. Tokio Marine Asset Management Co. Ltd. lifted its holdings in 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 acquiring an additional 50 shares during the last quarter. Clearbridge Investments LLC grew its position in Veeva Systems by 0.4% in the second quarter. Clearbridge Investments LLC now owns 11,682 shares of the technology company’s stock worth $2,138,000 after acquiring an additional 52 shares during the period. CHICAGO TRUST Co NA increased its stake in Veeva Systems by 2.9% during the fourth quarter. CHICAGO TRUST Co NA now owns 1,880 shares of the technology company’s stock worth $395,000 after acquiring an additional 53 shares during the last quarter. Finally, Arkadios Wealth Advisors raised its position in Veeva Systems by 1.9% in the fourth quarter. Arkadios Wealth Advisors now owns 3,112 shares of the technology company’s stock valued at $654,000 after purchasing an additional 58 shares during the period. Hedge funds and other institutional investors own 88.20% of the company’s stock.
Insider Buying and Selling
In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of Veeva Systems stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total transaction 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Thomas D. Schwenger sold 1,126 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $240.01, for a total value of $270,251.26. Following the completion of the sale, the insider now owns 27,013 shares of the company’s stock, valued at approximately $6,483,390.13. This represents a 4.00 % decrease in their position. The disclosure for this sale can be found here. 10.50% of the stock is owned by company insiders.
Veeva Systems Trading Up 0.9 %
Analysts Set New Price Targets
A number of analysts recently issued reports on the company. Citigroup raised their price objective on Veeva Systems from $281.00 to $307.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Barclays lifted their price target on shares of Veeva Systems from $260.00 to $275.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Stifel Nicolaus upped their price objective on shares of Veeva Systems from $240.00 to $272.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Scotiabank lifted their target price on shares of Veeva Systems from $235.00 to $240.00 and gave the company a “sector perform” rating in a report on Friday, December 6th. Finally, Mizuho initiated coverage on Veeva Systems in a research note on Wednesday, December 4th. They set an “outperform” rating and a $275.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $255.74.
Read Our Latest Stock Report on VEEV
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.
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