Bamco Inc. NY Trims Holdings in Veeva Systems Inc. (NYSE:VEEV)

Bamco Inc. NY lessened its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 2.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 412,137 shares of the technology company’s stock after selling 11,769 shares during the period. Bamco Inc. NY owned about 0.25% of Veeva Systems worth $86,495,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. General American Investors Co. Inc. purchased a new position in Veeva Systems during the 3rd quarter valued at about $5,133,000. Procyon Advisors LLC purchased a new position in Veeva Systems during the 3rd quarter valued at about $712,000. Envestnet Portfolio Solutions Inc. increased its holdings in Veeva Systems by 44.9% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 29,782 shares of the technology company’s stock valued at $5,450,000 after purchasing an additional 9,232 shares during the period. Principal Financial Group Inc. increased its holdings in 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 valued at $457,366,000 after purchasing an additional 1,267,061 shares during the period. Finally, Oppenheimer Asset Management Inc. increased its holdings in Veeva Systems by 3.6% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 78,000 shares of the technology company’s stock valued at $16,370,000 after purchasing an additional 2,733 shares during the period. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Insider Activity at Veeva Systems

In other news, insider Thomas D. Schwenger sold 1,126 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $240.01, for a total value of $270,251.26. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which is available at this link. 10.50% of the stock is currently owned by insiders.

Veeva Systems Trading Up 0.5 %

VEEV stock opened at $227.85 on Monday. The stock has a market capitalization of $36.90 billion, a PE ratio of 60.76, a price-to-earnings-growth ratio of 2.21 and a beta of 0.81. Veeva Systems Inc. has a 12-month low of $165.12 and a 12-month high of $240.68. The stock’s 50 day simple moving average is $215.71 and its 200 day simple moving average is $201.92.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Bank of America upped their target price on Veeva Systems from $204.00 to $240.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Royal Bank of Canada upped their target price on Veeva Systems from $250.00 to $275.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. UBS Group upped their target price on Veeva Systems from $185.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. TD Cowen upped their target price on Veeva Systems from $180.00 to $192.00 and gave the stock a “hold” rating in a report on Thursday, August 29th. Finally, Raymond James upped their target price on Veeva Systems from $230.00 to $235.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $236.92.

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.