Thomasville National Bank Has $17.44 Million Stake in Veeva Systems Inc. (NYSE:VEEV)

Thomasville National Bank boosted its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 2.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 82,961 shares of the technology company’s stock after purchasing an additional 2,183 shares during the period. Veeva Systems accounts for approximately 1.3% of Thomasville National Bank’s portfolio, making the stock its 27th largest holding. Thomasville National Bank’s holdings in Veeva Systems were worth $17,443,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of VEEV. Massachusetts Financial Services Co. MA boosted its stake in shares of Veeva Systems by 64.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company’s stock valued at $744,084,000 after purchasing an additional 1,392,256 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Veeva Systems by 138.9% during the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock worth $457,366,000 after purchasing an additional 1,267,061 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Veeva Systems by 73.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company’s stock worth $536,972,000 after purchasing an additional 1,081,501 shares during the last quarter. FMR LLC increased its stake in shares of Veeva Systems by 25.7% in the 3rd quarter. FMR LLC now owns 2,981,244 shares of the technology company’s stock valued at $625,674,000 after acquiring an additional 610,021 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Veeva Systems by 761.7% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 297,771 shares of the technology company’s stock valued at $62,493,000 after acquiring an additional 263,214 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total value of $390,128.20. Following the transaction, the senior vice president now directly owns 8,061 shares of the company’s stock, valued at approximately $1,856,448.30. This trade represents a 17.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Thomas D. Schwenger sold 1,126 shares of the firm’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 approximately $6,483,390.13. The trade was a 4.00 % decrease in their position. The disclosure for this sale can be found here. 10.50% of the stock is currently owned by insiders.

Veeva Systems Stock Down 1.9 %

Shares of NYSE:VEEV traded down $4.14 on Monday, hitting $213.61. 348,433 shares of the company traded hands, compared to its average volume of 925,940. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93. The company has a market cap of $34.68 billion, a PE ratio of 52.74, a PEG ratio of 2.03 and a beta of 0.84. The stock has a 50 day simple moving average of $222.97 and a 200-day simple moving average of $208.78.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on VEEV. Bank of America lifted their price target on shares of Veeva Systems from $280.00 to $290.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Piper Sandler boosted their price target on shares of Veeva Systems from $280.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Wells Fargo & Company boosted their price target on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Scotiabank boosted their price target on shares of Veeva Systems from $235.00 to $240.00 and gave the stock a “sector perform” rating in a report on Friday, December 6th. Finally, Morgan Stanley boosted their price objective on Veeva Systems from $183.00 to $195.00 and gave the company an “underweight” rating in a research note on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $255.74.

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.