Howard Bailey Securities LLC Sells 81 Shares of Veeva Systems Inc. (NYSE:VEEV)

Howard Bailey Securities LLC cut its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 5.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,359 shares of the technology company’s stock after selling 81 shares during the period. Howard Bailey Securities LLC’s holdings in Veeva Systems were worth $286,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in VEEV. General American Investors Co. Inc. bought a new position in shares of Veeva Systems in the third quarter valued at approximately $5,133,000. Toronto Dominion Bank grew its stake in shares of Veeva Systems by 39.1% in the 3rd quarter. Toronto Dominion Bank now owns 20,180 shares of the technology company’s stock worth $4,235,000 after acquiring an additional 5,673 shares in the last quarter. Procyon Advisors LLC bought a new position in shares of Veeva Systems during the third quarter valued at about $712,000. Principal Financial Group Inc. boosted its holdings in Veeva Systems by 138.9% during the third 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 last quarter. Finally, Oppenheimer Asset Management Inc. grew its position in Veeva Systems by 3.6% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 78,000 shares of the technology company’s stock worth $16,370,000 after purchasing an additional 2,733 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

Wall Street Analysts Forecast Growth

VEEV has been the topic of a number of research analyst reports. Canaccord Genuity Group boosted their target price on Veeva Systems from $210.00 to $270.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Robert W. Baird increased their target price on shares of Veeva Systems from $275.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Mizuho started coverage on shares of Veeva Systems in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $275.00 price target on the stock. Citigroup raised 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. Finally, 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 report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $253.96.

Veeva Systems Trading Down 0.5 %

Veeva Systems stock opened at $233.26 on Thursday. The firm has a market cap of $37.87 billion, a price-to-earnings ratio of 57.60, a PEG ratio of 1.97 and a beta of 0.85. Veeva Systems Inc. has a 12 month low of $170.25 and a 12 month high of $258.93. The stock has a fifty day simple moving average of $224.84 and a two-hundred day simple moving average of $215.41.

Insiders Place Their Bets

In other news, SVP Jonathan Faddis sold 1,694 shares of the business’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 directly owns 8,061 shares of the company’s stock, valued at $1,856,448.30. The trade was a 17.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 10.50% of the stock is owned by insiders.

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.