Sanctuary Advisors LLC Acquires 1,206 Shares of Veeva Systems Inc. (NYSE:VEEV)

Sanctuary Advisors LLC increased its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 19.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,335 shares of the technology company’s stock after purchasing an additional 1,206 shares during the quarter. Sanctuary Advisors LLC’s holdings in Veeva Systems were worth $1,589,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in VEEV. Patriot Financial Group Insurance Agency LLC grew its holdings in Veeva Systems by 0.7% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 6,924 shares of the technology company’s stock valued at $1,453,000 after buying an additional 48 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Veeva Systems by 1.2% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,307 shares of the technology company’s stock worth $904,000 after acquiring an additional 50 shares during the last quarter. Clearbridge Investments LLC grew its stake in Veeva Systems by 0.4% during the second quarter. Clearbridge Investments LLC now owns 11,682 shares of the technology company’s stock valued at $2,138,000 after acquiring an additional 52 shares in the last quarter. Park Place Capital Corp increased its holdings in Veeva Systems by 11.5% in the 3rd quarter. Park Place Capital Corp now owns 574 shares of the technology company’s stock valued at $120,000 after acquiring an additional 59 shares during the last quarter. Finally, Quintet Private Bank Europe S.A. lifted its stake in Veeva Systems by 13.4% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 516 shares of the technology company’s stock worth $108,000 after purchasing an additional 61 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

Insider Buying and Selling

In other news, SVP Jonathan Faddis sold 1,694 shares of the 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thomas D. Schwenger sold 1,126 shares of the business’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 completion of 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. 10.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on VEEV shares. Mizuho assumed coverage on Veeva Systems in a research report on Wednesday, December 4th. They set an “outperform” rating and a $275.00 price objective for the company. Wells Fargo & Company raised their price target on Veeva Systems from $275.00 to $285.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Bank of America lifted their price objective on Veeva Systems from $280.00 to $290.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Morgan Stanley increased their target price on Veeva Systems from $183.00 to $195.00 and gave the company an “underweight” rating in a research report on Tuesday. Finally, Canaccord Genuity Group boosted their price target on shares of Veeva Systems from $210.00 to $270.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Veeva Systems has a consensus rating of “Moderate Buy” and a consensus price target of $256.58.

Veeva Systems Price Performance

Shares of VEEV stock opened at $219.67 on Friday. The company’s 50-day simple moving average is $222.73 and its two-hundred day simple moving average is $204.84. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93. The company has a market capitalization of $35.66 billion, a P/E ratio of 54.24, a P/E/G ratio of 2.03 and a beta of 0.82.

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.