Professional Advisory Services Inc. Sells 400 Shares of Veeva Systems Inc. (NYSE:VEEV)

Professional Advisory Services Inc. decreased its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 28.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,000 shares of the technology company’s stock after selling 400 shares during the quarter. Professional Advisory Services Inc.’s holdings in Veeva Systems were worth $210,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in VEEV. Massachusetts Financial Services Co. MA raised its stake in shares of 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 valued at $744,084,000 after purchasing an additional 1,392,256 shares in the last quarter. State Street Corp raised its stake in shares of Veeva Systems by 1.5% in the 3rd quarter. State Street Corp now owns 3,293,141 shares of the technology company’s stock valued at $691,132,000 after buying an additional 47,872 shares in the last quarter. FMR LLC lifted its holdings in shares of Veeva Systems by 25.7% during the 3rd quarter. FMR LLC now owns 2,981,244 shares of the technology company’s stock worth $625,674,000 after acquiring an additional 610,021 shares during the period. Geode Capital Management LLC boosted its position in shares of Veeva Systems by 5.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,765,236 shares of the technology company’s stock valued at $579,630,000 after acquiring an additional 149,807 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Veeva Systems by 73.2% in the third quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company’s stock valued at $536,972,000 after acquiring an additional 1,081,501 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insider Activity

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of the company’s stock in a transaction on Friday, November 8th. The shares were 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 owns 27,013 shares in the company, valued at approximately $6,483,390.13. The trade was a 4.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Jonathan Faddis sold 1,694 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total value of $390,128.20. Following the completion of the transaction, the senior vice president now owns 8,061 shares in the company, valued at $1,856,448.30. This represents a 17.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 10.50% of the company’s stock.

Veeva Systems Stock Up 0.9 %

Shares of VEEV stock opened at $216.67 on Friday. The firm has a market cap of $35.18 billion, a price-to-earnings ratio of 53.50, a PEG ratio of 1.91 and a beta of 0.84. Veeva Systems Inc. has a 12 month low of $170.25 and a 12 month high of $258.93. The stock has a 50-day moving average price of $222.68 and a 200 day moving average price of $209.23.

Wall Street Analyst Weigh In

A number of brokerages have commented on VEEV. Guggenheim raised their price target on shares of Veeva Systems from $233.00 to $249.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. StockNews.com upgraded Veeva Systems from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. Royal Bank of Canada upped their price target on Veeva Systems from $275.00 to $285.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Scotiabank lifted their price objective on Veeva Systems from $235.00 to $240.00 and gave the company a “sector perform” rating in a report on Friday, December 6th. Finally, Barclays boosted their target price on shares of Veeva Systems from $260.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $255.74.

Veeva Systems Company 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.