Metis Global Partners LLC Boosts Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Metis Global Partners LLC raised its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 4.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,297 shares of the technology company’s stock after acquiring an additional 240 shares during the period. Metis Global Partners LLC’s holdings in Veeva Systems were worth $1,114,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Cardinal Capital Management boosted its position in Veeva Systems by 0.3% during the fourth quarter. Cardinal Capital Management now owns 15,727 shares of the technology company’s stock valued at $3,307,000 after buying an additional 44 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Veeva Systems by 1.2% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,307 shares of the technology company’s stock worth $904,000 after purchasing an additional 50 shares during the period. MassMutual Private Wealth & Trust FSB grew its stake in shares of Veeva Systems by 72.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock worth $25,000 after purchasing an additional 50 shares during the last quarter. Patriot Financial Group Insurance Agency LLC increased its holdings in Veeva Systems by 0.7% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 6,975 shares of the technology company’s stock valued at $1,467,000 after purchasing an additional 51 shares during the period. Finally, CHICAGO TRUST Co NA raised its position in Veeva Systems by 2.9% during the 4th quarter. CHICAGO TRUST Co NA now owns 1,880 shares of the technology company’s stock valued at $395,000 after purchasing an additional 53 shares during the last quarter. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Veeva Systems Trading Down 2.2 %

NYSE VEEV opened at $219.28 on Tuesday. Veeva Systems Inc. has a 12 month low of $170.25 and a 12 month high of $258.93. The stock has a market cap of $35.60 billion, a P/E ratio of 54.14, a P/E/G ratio of 1.89 and a beta of 0.85. The stock’s fifty day moving average price is $223.74 and its 200-day moving average price is $219.35.

Insider Transactions at Veeva Systems

In other news, SVP Jonathan Faddis sold 1,694 shares of the stock in a transaction 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 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 is accessible through this link. Insiders own 10.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. KeyCorp cut their price objective on Veeva Systems from $285.00 to $255.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Canaccord Genuity Group lifted their price target on shares of Veeva Systems from $210.00 to $270.00 and gave the company a “hold” rating in a report on Friday, December 6th. Bank of America upped their price objective 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. Stephens initiated coverage on shares of Veeva Systems in a research note on Friday, December 20th. They set an “overweight” rating and a $280.00 target price on the stock. Finally, Stifel Nicolaus increased their price target on shares of Veeva Systems from $240.00 to $272.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $255.08.

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.