Toronto Dominion Bank Raises Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Toronto Dominion Bank increased its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 39.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,180 shares of the technology company’s stock after acquiring an additional 5,673 shares during the quarter. Toronto Dominion Bank’s holdings in Veeva Systems were worth $4,235,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Patriot Financial Group Insurance Agency LLC raised its stake in shares of 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 worth $1,453,000 after purchasing an additional 48 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its holdings in 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 buying an additional 50 shares during the last quarter. Clearbridge Investments LLC boosted its stake in Veeva Systems by 0.4% in 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 during the last quarter. Park Place Capital Corp boosted its stake in Veeva Systems by 11.5% in the third 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. grew its position in shares of Veeva Systems by 13.4% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 516 shares of the technology company’s stock valued at $108,000 after acquiring an additional 61 shares during the period. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on VEEV. Truist Financial reissued a “hold” rating and set a $261.00 price objective (up from $207.00) on shares of Veeva Systems in a report on Friday, December 6th. Piper Sandler increased their price target on Veeva Systems from $280.00 to $290.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. TD Cowen lifted their price objective on Veeva Systems from $180.00 to $192.00 and gave the stock a “hold” rating in a report on Thursday, August 29th. Wells Fargo & Company upped their price objective on shares of Veeva Systems from $275.00 to $285.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Finally, UBS Group lifted their target price on shares of Veeva Systems from $185.00 to $215.00 and gave the stock a “neutral” rating in a research note on Monday, August 26th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $255.35.

Veeva Systems Price Performance

VEEV stock opened at $228.78 on Friday. The firm has a 50 day simple moving average of $221.36 and a two-hundred day simple moving average of $204.01. The stock has a market cap of $37.14 billion, a PE ratio of 56.49, a P/E/G ratio of 2.03 and a beta of 0.82. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93.

Insider Transactions at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of Veeva Systems stock in a transaction dated 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 sale, the senior vice president now owns 8,061 shares of the company’s stock, valued at $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 is available at this hyperlink. Also, insider Thomas D. Schwenger sold 1,126 shares of the 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 transaction, the insider now owns 27,013 shares in the company, valued at $6,483,390.13. This trade represents a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.50% of the stock is currently owned by insiders.

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.