Diversified Trust Co Has $2.71 Million Stake in Veeva Systems Inc. (NYSE:VEEV)

Diversified Trust Co reduced its stake in Veeva Systems Inc. (NYSE:VEEV) by 6.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,903 shares of the technology company’s stock after selling 963 shares during the period. Diversified Trust Co’s holdings in Veeva Systems were worth $2,713,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in VEEV. Private Advisor Group LLC boosted its stake in shares of Veeva Systems by 6.0% during the second quarter. Private Advisor Group LLC now owns 8,996 shares of the technology company’s stock valued at $1,646,000 after purchasing an additional 510 shares in the last quarter. Koss Olinger Consulting LLC acquired a new stake in Veeva Systems during the 2nd quarter worth approximately $207,000. Quest Partners LLC grew its holdings in Veeva Systems by 192.5% during the 2nd quarter. Quest Partners LLC now owns 3,984 shares of the technology company’s stock worth $729,000 after acquiring an additional 2,622 shares during the last quarter. Prudential PLC increased its position in Veeva Systems by 17.4% in the 2nd quarter. Prudential PLC now owns 52,651 shares of the technology company’s stock valued at $9,636,000 after acquiring an additional 7,808 shares during the period. Finally, Choreo LLC bought a new position in shares of Veeva Systems during the second quarter valued at $1,047,000. 88.20% of the stock is owned by institutional investors.

Veeva Systems Price Performance

VEEV opened at $211.52 on Wednesday. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93. The firm has a market capitalization of $34.34 billion, a P/E ratio of 52.23, a PEG ratio of 2.03 and a beta of 0.84. The company’s 50-day moving average is $222.63 and its 200 day moving average is $208.10.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Mizuho assumed coverage on Veeva Systems in a report on Wednesday, December 4th. They issued an “outperform” rating and a $275.00 price objective for the company. Robert W. Baird raised their price objective on Veeva Systems from $275.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Guggenheim upped their target price on Veeva Systems from $233.00 to $249.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Scotiabank increased their target price on shares of Veeva Systems from $235.00 to $240.00 and gave the company a “sector perform” rating in a research report on Friday, December 6th. Finally, Morgan Stanley upped their price objective on shares of Veeva Systems from $183.00 to $195.00 and gave the company an “underweight” rating in a research note on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $257.44.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of Veeva Systems stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total value of $390,128.20. Following the sale, the senior vice president now owns 8,061 shares of the company’s stock, valued at approximately $1,856,448.30. The trade was a 17.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Thomas D. Schwenger sold 1,126 shares of Veeva Systems 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 completion of the sale, the insider now directly owns 27,013 shares in the company, 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.

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.