Advisor Group Inc. lifted its position in Veeva Systems Inc. (NYSE:VEEV) by 141.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,403 shares of the technology company’s stock after buying an additional 9,618 shares during the quarter. Advisor Group Inc.’s holdings in Veeva Systems were worth $925,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. IFP Advisors Inc grew its stake in shares of Veeva Systems by 605.4% in the third quarter. IFP Advisors Inc now owns 13,347 shares of the technology company’s stock valued at $753,000 after buying an additional 11,455 shares in the last quarter. BlueMountain Capital Management LLC bought a new position in shares of Veeva Systems in the second quarter valued at $2,497,000. Oppenheimer & Co. Inc. grew its stake in shares of Veeva Systems by 62.7% in the second quarter. Oppenheimer & Co. Inc. now owns 14,214 shares of the technology company’s stock valued at $871,000 after buying an additional 5,478 shares in the last quarter. Rhumbline Advisers lifted its holdings in Veeva Systems by 9.2% during the 2nd quarter. Rhumbline Advisers now owns 120,387 shares of the technology company’s stock valued at $7,381,000 after purchasing an additional 10,093 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Veeva Systems by 645.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 33,850 shares of the technology company’s stock valued at $2,075,000 after purchasing an additional 29,308 shares during the last quarter. 71.78% of the stock is owned by institutional investors and hedge funds.
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Shares of Veeva Systems Inc. (NYSE VEEV) opened at $62.20 on Tuesday. Veeva Systems Inc. has a twelve month low of $40.50 and a twelve month high of $68.07. The firm has a market capitalization of $8,478.73, a price-to-earnings ratio of 103.61, a PEG ratio of 5.01 and a beta of 1.64.
Several brokerages have issued reports on VEEV. BidaskClub downgraded Veeva Systems from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 14th. Zacks Investment Research raised Veeva Systems from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a report on Wednesday, October 11th. Stifel Nicolaus reaffirmed a “buy” rating and set a $67.00 price target on shares of Veeva Systems in a report on Friday, October 13th. Canaccord Genuity reaffirmed a “buy” rating and set a $70.00 price target on shares of Veeva Systems in a report on Tuesday, August 22nd. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of Veeva Systems in a report on Thursday, October 12th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $65.75.
In related news, Director Gordon Ritter sold 9,600 shares of the business’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $60.72, for a total value of $582,912.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Timothy S. Cabral sold 40,000 shares of the business’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $58.82, for a total value of $2,352,800.00. Following the completion of the transaction, the chief financial officer now directly owns 30,000 shares of the company’s stock, valued at approximately $1,764,600. The disclosure for this sale can be found here. Insiders have sold 297,300 shares of company stock valued at $17,247,550 in the last three months. Insiders own 17.50% of the company’s stock.
About Veeva Systems
Veeva Systems Inc (Veeva) is a provider of cloud-based software solutions for the global life sciences industry. The Company offers solutions for a range of requirements within life sciences companies, including multichannel customer relationship management, regulated content and information management, master data management and customer data.
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