D.A. Davidson & CO. Increases Holdings in Veeva Systems Inc. (NYSE:VEEV)

D.A. Davidson & CO. grew its stake in Veeva Systems Inc. (NYSE:VEEV) by 2.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,630 shares of the technology company’s stock after acquiring an additional 136 shares during the quarter. D.A. Davidson & CO.’s holdings in Veeva Systems were worth $1,182,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA raised its position in shares of Veeva Systems by 64.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company’s stock valued at $744,084,000 after buying an additional 1,392,256 shares during the period. FMR LLC lifted its stake in shares of Veeva Systems by 25.7% in the 3rd quarter. FMR LLC now owns 2,981,244 shares of the technology company’s stock valued at $625,674,000 after purchasing an additional 610,021 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Veeva Systems by 138.9% during the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock worth $457,366,000 after purchasing an additional 1,267,061 shares during the period. Van ECK Associates Corp increased its position in shares of Veeva Systems by 3.7% during the 3rd quarter. Van ECK Associates Corp now owns 1,995,006 shares of the technology company’s stock worth $434,372,000 after purchasing an additional 71,525 shares during the last quarter. Finally, Swedbank AB raised its holdings in Veeva Systems by 4.9% in the 2nd quarter. Swedbank AB now owns 1,031,064 shares of the technology company’s stock valued at $188,695,000 after buying an additional 48,402 shares during the period. 88.20% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

VEEV has been the subject of a number of recent analyst reports. Royal Bank of Canada lifted their price target on shares of Veeva Systems from $250.00 to $275.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. StockNews.com raised Veeva Systems from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. JPMorgan Chase & Co. raised their price target on Veeva Systems from $203.00 to $208.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. BNP Paribas began coverage on Veeva Systems in a report on Tuesday, October 8th. They issued an “outperform” rating and a $286.00 price objective on the stock. Finally, Truist Financial raised their target price on Veeva Systems from $197.00 to $207.00 and gave the company a “hold” rating in a report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $236.92.

Insider Buying and Selling

In related news, insider Thomas D. Schwenger sold 1,126 shares of the firm’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 transaction of $270,251.26. Following the transaction, the insider now owns 27,013 shares in the company, valued at $6,483,390.13. This trade represents a 4.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 10.50% of the stock is owned by company insiders.

Veeva Systems Trading Up 0.5 %

VEEV stock opened at $227.85 on Monday. The company’s 50 day moving average is $215.71 and its two-hundred day moving average is $201.92. Veeva Systems Inc. has a twelve month low of $165.12 and a twelve month high of $240.68. The stock has a market cap of $36.90 billion, a P/E ratio of 60.76, a PEG ratio of 2.21 and a beta of 0.81.

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.