Veeva Systems Inc. (NYSE:VEEV) Stake Boosted by FourThought Financial Partners LLC

FourThought Financial Partners LLC grew its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 131.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,859 shares of the technology company’s stock after buying an additional 12,978 shares during the period. FourThought Financial Partners LLC’s holdings in Veeva Systems were worth $4,806,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Cardinal Capital Management increased its stake in Veeva Systems by 0.3% in the 4th quarter. Cardinal Capital Management now owns 15,727 shares of the technology company’s stock worth $3,307,000 after purchasing an additional 44 shares in the last quarter. Patriot Financial Group Insurance Agency LLC grew its position in Veeva Systems by 0.7% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 6,924 shares of the technology company’s stock valued at $1,453,000 after purchasing an additional 48 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its position 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 valued at $904,000 after purchasing an additional 50 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in Veeva Systems by 72.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock valued at $25,000 after acquiring an additional 50 shares during the last quarter. Finally, CHICAGO TRUST Co NA lifted its stake in Veeva Systems by 2.9% in the fourth quarter. CHICAGO TRUST Co NA now owns 1,880 shares of the technology company’s stock valued at $395,000 after acquiring an additional 53 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors.

Veeva Systems Stock Performance

Shares of VEEV stock opened at $226.29 on Tuesday. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93. The company has a market cap of $36.74 billion, a PE ratio of 55.87, a P/E/G ratio of 1.89 and a beta of 0.85. The stock’s fifty day moving average price is $223.79 and its two-hundred day moving average price is $218.15.

Insider Activity

In related news, 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 transaction of $390,128.20. Following the sale, the senior vice president now owns 8,061 shares of the company’s stock, valued at $1,856,448.30. This trade represents a 17.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 10.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on VEEV. Stifel Nicolaus boosted their price objective on shares of Veeva Systems from $240.00 to $272.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Robert W. Baird boosted their price target on shares of Veeva Systems from $275.00 to $283.00 and gave the company an “outperform” rating in a report on Friday, December 6th. StockNews.com raised shares of Veeva Systems from a “hold” rating to a “buy” rating in a report on Monday, February 17th. KeyCorp lowered their target price on shares of Veeva Systems from $285.00 to $255.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. upped their target price on shares of Veeva Systems from $208.00 to $218.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $255.08.

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.