Bard Financial Services Inc. Raises Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Bard Financial Services Inc. lifted its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 7.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 2,300 shares of the technology company’s stock after buying an additional 150 shares during the period. Bard Financial Services Inc.’s holdings in Veeva Systems were worth $484,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. CIBC Asset Management Inc grew its holdings in Veeva Systems by 14.9% in the second quarter. CIBC Asset Management Inc now owns 5,347 shares of the technology company’s stock valued at $979,000 after purchasing an additional 695 shares during the last quarter. Foundations Investment Advisors LLC increased its stake in shares of Veeva Systems by 5.9% during the 2nd quarter. Foundations Investment Advisors LLC now owns 2,503 shares of the technology company’s stock worth $458,000 after purchasing an additional 140 shares in the last quarter. Larson Financial Group LLC raised its position in shares of Veeva Systems by 477.3% during the 2nd quarter. Larson Financial Group LLC now owns 941 shares of the technology company’s stock worth $172,000 after purchasing an additional 778 shares during the last quarter. Arizona State Retirement System lifted its stake in Veeva Systems by 1.2% in the 2nd quarter. Arizona State Retirement System now owns 44,428 shares of the technology company’s stock valued at $8,131,000 after buying an additional 531 shares in the last quarter. Finally, Private Advisor Group LLC grew its holdings in Veeva Systems by 6.0% during the 2nd quarter. Private Advisor Group LLC now owns 8,996 shares of the technology company’s stock valued at $1,646,000 after buying an additional 510 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Trading Up 0.7 %

Shares of VEEV traded up $1.48 during midday trading on Monday, reaching $214.51. 378,262 shares of the company were exchanged, compared to its average volume of 695,735. Veeva Systems Inc. has a 1-year low of $170.25 and a 1-year high of $258.93. The stock has a 50-day moving average price of $222.67 and a 200-day moving average price of $207.71. The company has a market cap of $34.83 billion, a price-to-earnings ratio of 52.97, a P/E/G ratio of 2.03 and a beta of 0.84.

Insider Activity at Veeva Systems

In related news, insider Thomas D. Schwenger sold 1,126 shares of Veeva Systems 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 sale, the insider now owns 27,013 shares of the company’s stock, valued at $6,483,390.13. The trade was a 4.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 transaction, the senior vice president now directly owns 8,061 shares of the company’s stock, 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.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on VEEV. Scotiabank boosted their price target on Veeva Systems from $235.00 to $240.00 and gave the stock a “sector perform” rating in a report on Friday, December 6th. Barclays upped their target price on shares of Veeva Systems from $260.00 to $275.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Stifel Nicolaus lifted their price target on shares of Veeva Systems from $240.00 to $272.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Canaccord Genuity Group upped their price objective on shares of Veeva Systems from $210.00 to $270.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Finally, Evercore ISI lifted their target price on shares of Veeva Systems from $220.00 to $245.00 and gave the stock an “in-line” rating in a research note on Friday, December 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $257.44.

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.