Vontobel Holding Ltd. Has $5.67 Million Stake in Veeva Systems Inc. (NYSE:VEEV)

Vontobel Holding Ltd. raised its position in Veeva Systems Inc. (NYSE:VEEV) by 13.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 26,984 shares of the technology company’s stock after purchasing an additional 3,155 shares during the period. Vontobel Holding Ltd.’s holdings in Veeva Systems were worth $5,673,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of VEEV. MassMutual Private Wealth & Trust FSB lifted its position in shares of Veeva Systems by 72.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock valued at $25,000 after acquiring an additional 50 shares during the period. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of Veeva Systems during the 3rd quarter valued at $26,000. True Wealth Design LLC lifted its position in shares of Veeva Systems by 3,375.0% during the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock valued at $29,000 after acquiring an additional 135 shares during the period. Avion Wealth lifted its position in shares of Veeva Systems by 635.0% during the 4th quarter. Avion Wealth now owns 147 shares of the technology company’s stock valued at $30,000 after acquiring an additional 127 shares during the period. Finally, Retirement Wealth Solutions LLC acquired a new position in shares of Veeva Systems during the 4th quarter valued at $31,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Royal Bank of Canada boosted their target price on shares of Veeva Systems from $275.00 to $285.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Stifel Nicolaus boosted their target price on shares of Veeva Systems from $240.00 to $272.00 and gave the company a “buy” rating in a research report on Friday, December 6th. KeyCorp dropped their target price on shares of Veeva Systems from $285.00 to $255.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Robert W. Baird boosted their target price on shares of Veeva Systems from $275.00 to $283.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Finally, Citigroup upped their price objective on shares of Veeva Systems from $281.00 to $307.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, Veeva Systems has an average rating of “Moderate Buy” and an average target price of $253.96.

Insider Activity at Veeva Systems

In related news, SVP Jonathan Faddis sold 1,694 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total transaction of $390,128.20. Following the completion of the transaction, the senior vice president now owns 8,061 shares in the company, 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 filing with the Securities & Exchange Commission, which can be accessed through this link. 10.50% of the stock is owned by company insiders.

Veeva Systems Stock Performance

VEEV opened at $234.09 on Friday. The firm has a market cap of $38.00 billion, a P/E ratio of 57.80, a PEG ratio of 1.97 and a beta of 0.85. The firm has a 50-day moving average of $224.48 and a 200 day moving average of $215.96. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93.

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.