Gladstone Institutional Advisory LLC Increases Stake in Veeva Systems Inc. (NYSE:VEEV)

Gladstone Institutional Advisory LLC raised its holdings in Veeva Systems Inc. (NYSE:VEEV) by 8.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,742 shares of the technology company’s stock after buying an additional 130 shares during the period. Gladstone Institutional Advisory LLC’s holdings in Veeva Systems were worth $366,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Massachusetts Financial Services Co. MA lifted its stake in Veeva Systems by 64.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company’s stock worth $744,084,000 after acquiring an additional 1,392,256 shares during the last quarter. Principal Financial Group Inc. lifted its position 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 last quarter. JPMorgan Chase & Co. grew its stake in shares of Veeva Systems by 73.2% during the third quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company’s stock worth $536,972,000 after purchasing an additional 1,081,501 shares in the last quarter. FMR LLC increased its holdings in Veeva Systems by 25.7% in the third quarter. FMR LLC now owns 2,981,244 shares of the technology company’s stock valued at $625,674,000 after buying an additional 610,021 shares during the last quarter. Finally, Seilern Investment Management Ltd acquired a new stake in Veeva Systems in the fourth quarter valued at $94,957,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on VEEV shares. KeyCorp dropped their price objective on Veeva Systems from $285.00 to $255.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Bank of America boosted their price objective on shares of Veeva Systems from $280.00 to $290.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Citigroup increased their target price on shares of Veeva Systems from $281.00 to $307.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Stifel Nicolaus lifted their price target on shares of Veeva Systems from $240.00 to $272.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, Stephens started coverage on Veeva Systems in a report on Friday, December 20th. They set an “overweight” rating and a $280.00 price objective on the stock. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $253.96.

Veeva Systems Stock Performance

NYSE:VEEV opened at $234.09 on Friday. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93. The stock has a fifty day moving average price of $224.48 and a two-hundred day moving average price of $215.96. The stock has a market capitalization of $38.00 billion, a price-to-earnings ratio of 57.80, a PEG ratio of 1.97 and a beta of 0.85.

Insider Activity at Veeva Systems

In related news, SVP Jonathan Faddis sold 1,694 shares of Veeva Systems 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 transaction, the senior vice president now directly 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 document filed with the SEC, which can be accessed through this link. 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.