Veeva Systems Inc. (NYSE:VEEV) Shares Bought by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. raised its holdings in Veeva Systems Inc. (NYSE:VEEV) by 71.5% during the fourth quarter, HoldingsChannel reports. The firm owned 2,507 shares of the technology company’s stock after buying an additional 1,045 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Veeva Systems were worth $527,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Park Avenue Securities LLC boosted its holdings in shares of Veeva Systems by 1.9% in the fourth quarter. Park Avenue Securities LLC now owns 12,228 shares of the technology company’s stock valued at $2,571,000 after acquiring an additional 233 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Veeva Systems by 182.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 60,072 shares of the technology company’s stock valued at $12,630,000 after acquiring an additional 38,793 shares in the last quarter. Rockland Trust Co. boosted its holdings in shares of Veeva Systems by 5.0% in the fourth quarter. Rockland Trust Co. now owns 112,764 shares of the technology company’s stock valued at $23,709,000 after acquiring an additional 5,322 shares in the last quarter. Oak Thistle LLC boosted its holdings in shares of Veeva Systems by 789.8% in the fourth quarter. Oak Thistle LLC now owns 12,093 shares of the technology company’s stock valued at $2,543,000 after acquiring an additional 10,734 shares in the last quarter. Finally, Clean Yield Group purchased a new stake in shares of Veeva Systems in the fourth quarter valued at about $3,487,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Price Performance

NYSE:VEEV opened at $216.67 on Tuesday. The firm has a 50 day simple moving average of $222.31 and a 200-day simple moving average of $209.86. The firm has a market cap of $35.18 billion, a PE ratio of 53.50, a P/E/G ratio of 1.91 and a beta of 0.84. Veeva Systems Inc. has a 1-year low of $170.25 and a 1-year high of $258.93.

Insider Activity

In related news, SVP Jonathan Faddis sold 1,694 shares of the company’s stock in a transaction that occurred on 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 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Thomas D. Schwenger sold 1,126 shares of the company’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 directly 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 disclosure for this sale can be found here. Company insiders own 10.50% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on VEEV. BNP Paribas began coverage on shares of Veeva Systems in a report on Tuesday, October 8th. They issued an “outperform” rating and a $286.00 target price on the stock. KeyCorp decreased their price objective on shares of Veeva Systems from $285.00 to $255.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Barclays boosted their price objective on shares of Veeva Systems from $260.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Royal Bank of Canada boosted their price objective on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Finally, Canaccord Genuity Group boosted their price objective on shares of Veeva Systems from $210.00 to $270.00 and gave the stock a “hold” rating in a report on Friday, December 6th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, Veeva Systems currently has an average rating of “Moderate Buy” and an average target price of $255.74.

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.