Baker Tilly Wealth Management LLC Increases Stake in Veeva Systems Inc. (NYSE:VEEV)

Baker Tilly Wealth Management LLC raised its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 22.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,510 shares of the technology company’s stock after acquiring an additional 278 shares during the quarter. Baker Tilly Wealth Management LLC’s holdings in Veeva Systems were worth $317,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. General American Investors Co. Inc. purchased a new stake in shares of Veeva Systems during the 3rd quarter valued at approximately $5,133,000. Toronto Dominion Bank raised its holdings in Veeva Systems by 39.1% during the 3rd quarter. Toronto Dominion Bank now owns 20,180 shares of the technology company’s stock valued at $4,235,000 after acquiring an additional 5,673 shares during the period. Procyon Advisors LLC purchased a new stake in shares of Veeva Systems during the third quarter worth $712,000. Principal Financial Group Inc. boosted its holdings in shares of Veeva Systems by 138.9% in the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock worth $457,366,000 after acquiring an additional 1,267,061 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its position in shares of Veeva Systems by 3.6% in the third quarter. Oppenheimer Asset Management Inc. now owns 78,000 shares of the technology company’s stock valued at $16,370,000 after purchasing an additional 2,733 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Trading Up 0.4 %

Shares of NYSE:VEEV opened at $218.08 on Friday. Veeva Systems Inc. has a 12-month low of $170.25 and a 12-month high of $258.93. The stock’s 50-day moving average price is $222.97 and its 200-day moving average price is $208.45. The stock has a market capitalization of $35.41 billion, a P/E ratio of 53.85, a price-to-earnings-growth ratio of 2.03 and a beta of 0.84.

Wall Street Analysts Forecast Growth

Several brokerages have commented on VEEV. Scotiabank raised their target price on Veeva Systems from $235.00 to $240.00 and gave the stock a “sector perform” rating in a research note on Friday, December 6th. Canaccord Genuity Group raised their price objective on shares of Veeva Systems from $210.00 to $270.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Stephens started coverage on shares of Veeva Systems in a report on Friday, December 20th. They set an “overweight” rating and a $280.00 target price on the stock. Evercore ISI raised their price target on shares of Veeva Systems from $220.00 to $245.00 and gave the company an “in-line” rating in a report on Friday, December 6th. Finally, Mizuho initiated coverage on shares of Veeva Systems in a report on Wednesday, December 4th. They issued an “outperform” rating and a $275.00 price target on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat, Veeva Systems currently has an average rating of “Moderate Buy” and a consensus target price of $257.63.

Insider Buying and Selling

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of the firm’s stock in a transaction 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 sale, the insider now owns 27,013 shares of the company’s stock, valued at $6,483,390.13. This trade represents a 4.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jonathan Faddis sold 1,694 shares of the firm’s stock in a transaction 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. This trade represents a 17.37 % decrease in their position. The disclosure for this sale can be found here. 10.50% of the stock is owned by corporate insiders.

About Veeva Systems

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.