Wendell David Associates Inc. Has $2.38 Million Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Wendell David Associates Inc. grew its stake in Veeva Systems Inc. (NYSE:VEEV) by 951.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,313 shares of the technology company’s stock after purchasing an additional 10,237 shares during the period. Wendell David Associates Inc.’s holdings in Veeva Systems were worth $2,379,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Massachusetts Financial Services Co. MA increased its holdings in shares of Veeva Systems by 64.7% during 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 buying an additional 1,392,256 shares in the last quarter. Principal Financial Group Inc. raised its position in Veeva Systems by 138.9% in 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 last quarter. JPMorgan Chase & Co. boosted 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 worth $536,972,000 after purchasing an additional 1,081,501 shares in the last quarter. FMR LLC grew its holdings in shares of Veeva Systems by 25.7% during the third quarter. FMR LLC now owns 2,981,244 shares of the technology company’s stock worth $625,674,000 after purchasing an additional 610,021 shares during the last quarter. Finally, Seilern Investment Management Ltd acquired a new stake in shares of Veeva Systems in the fourth quarter valued at $94,957,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Analyst Upgrades and Downgrades

VEEV has been the topic of a number of research analyst reports. Stephens started coverage on shares of Veeva Systems in a report on Friday, December 20th. They set an “overweight” rating and a $280.00 price objective on the stock. StockNews.com raised shares of Veeva Systems from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Stifel Nicolaus raised their price target on Veeva Systems from $240.00 to $272.00 and gave the company a “buy” rating in a report on Friday, December 6th. BNP Paribas began coverage on shares of Veeva Systems in a research report on Tuesday, October 8th. They set an “outperform” rating and a $286.00 target price on the stock. Finally, KeyCorp reduced their price target on Veeva Systems from $285.00 to $255.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. One 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 data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $255.74.

Veeva Systems Trading Up 2.7 %

Veeva Systems stock opened at $229.05 on Thursday. Veeva Systems Inc. has a 1-year low of $170.25 and a 1-year high of $258.93. The company has a fifty day simple moving average of $221.64 and a 200 day simple moving average of $210.39. The company has a market cap of $37.19 billion, a P/E ratio of 56.56, a price-to-earnings-growth ratio of 1.96 and a beta of 0.84.

Insider Transactions at Veeva Systems

In other news, insider Thomas D. Schwenger sold 1,126 shares of Veeva Systems stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.01, for a total value of $270,251.26. Following the completion of the transaction, the insider now 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Jonathan Faddis sold 1,694 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total transaction of $390,128.20. Following the completion of the sale, the senior vice president now directly owns 8,061 shares in the company, valued at approximately $1,856,448.30. The trade was a 17.37 % decrease in their ownership of the stock. 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.