Seilern Investment Management Ltd Takes Position in Veeva Systems Inc. (NYSE:VEEV)

Seilern Investment Management Ltd bought a new position in shares of Veeva Systems Inc. (NYSE:VEEV) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 451,638 shares of the technology company’s stock, valued at approximately $94,957,000. Veeva Systems accounts for approximately 5.4% of Seilern Investment Management Ltd’s holdings, making the stock its 12th biggest position.

Several other institutional investors have also bought and sold shares of the stock. Patriot Financial Group Insurance Agency LLC raised its position in Veeva Systems by 0.7% in the 3rd 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 during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Veeva Systems by 1.2% in 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 buying an additional 50 shares during the last quarter. Clearbridge Investments LLC raised its holdings in shares of 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 buying an additional 52 shares during the last quarter. CHICAGO TRUST Co NA grew its holdings in Veeva Systems by 2.9% during the 4th quarter. CHICAGO TRUST Co NA now owns 1,880 shares of the technology company’s stock worth $395,000 after acquiring an additional 53 shares during the last quarter. Finally, Arkadios Wealth Advisors increased its position in Veeva Systems by 1.9% in the 4th quarter. Arkadios Wealth Advisors now owns 3,112 shares of the technology company’s stock valued at $654,000 after acquiring an additional 58 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Stock Performance

Shares of VEEV stock opened at $216.67 on Monday. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93. The company’s 50 day moving average price is $222.31 and its two-hundred day moving average price is $209.66. The company has a market capitalization of $35.18 billion, a P/E ratio of 53.50, a price-to-earnings-growth ratio of 1.91 and a beta of 0.84.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. KeyCorp decreased their price target on shares of Veeva Systems from $285.00 to $255.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Robert W. Baird boosted their target price on Veeva Systems from $275.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Bank of America raised their price target on Veeva Systems from $280.00 to $290.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Wells Fargo & Company upped their target price on shares of Veeva Systems from $275.00 to $285.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Finally, Needham & Company LLC reissued a “buy” rating and set a $270.00 price target on shares of Veeva Systems in a research note on Friday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $255.74.

Insider Buying and Selling at Veeva Systems

In other news, insider Thomas D. Schwenger sold 1,126 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was 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 in the company, valued at $6,483,390.13. This represents a 4.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Jonathan Faddis sold 1,694 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total value of $390,128.20. Following the completion of the sale, 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 position. 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.