HighTower Advisors LLC Has $3.26 Million Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

HighTower Advisors LLC decreased its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 6.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,634 shares of the technology company’s stock after selling 1,097 shares during the quarter. HighTower Advisors LLC’s holdings in Veeva Systems were worth $3,261,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its stake in Veeva Systems by 30.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 12,363 shares of the technology company’s stock valued at $2,263,000 after buying an additional 2,884 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Veeva Systems by 44.9% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 29,782 shares of the technology company’s stock valued at $5,450,000 after buying an additional 9,232 shares in the last quarter. Triad Wealth Partners LLC purchased a new stake in shares of Veeva Systems in the second quarter valued at about $115,000. Blue Trust Inc. increased its holdings in Veeva Systems by 3,460.0% during the second quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock worth $33,000 after buying an additional 173 shares during the last quarter. Finally, Rovin Capital UT ADV increased its stake in shares of Veeva Systems by 29.0% in the second quarter. Rovin Capital UT ADV now owns 3,669 shares of the technology company’s stock worth $671,000 after purchasing an additional 825 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Stock Down 0.6 %

Veeva Systems stock opened at $232.48 on Friday. The stock has a 50-day moving average price of $220.31 and a 200 day moving average price of $203.63. The company has a market capitalization of $37.65 billion, a price-to-earnings ratio of 57.82, a price-to-earnings-growth ratio of 2.43 and a beta of 0.82. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93.

Insider Activity at Veeva Systems

In related news, SVP Jonathan Faddis sold 1,694 shares of the business’s 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 completion of the sale, the senior vice president now directly owns 8,061 shares in the company, valued at approximately $1,856,448.30. The trade was a 17.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas D. Schwenger sold 1,126 shares of the business’s stock in a transaction that occurred 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 owns 27,013 shares of the company’s stock, valued at $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. 10.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on VEEV shares. StockNews.com raised shares of Veeva Systems from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Stifel Nicolaus boosted their target price on Veeva Systems from $240.00 to $272.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Bank of America upped their price target on shares of Veeva Systems from $280.00 to $290.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Citigroup increased their target price on shares of Veeva Systems from $281.00 to $307.00 and gave the stock a “buy” rating in a report on Monday. Finally, Canaccord Genuity Group upped their price target on Veeva Systems from $210.00 to $270.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Veeva Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $255.35.

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.