Hartline Investment Corp Has $1.64 Million Stake in Veeva Systems Inc. (NYSE:VEEV)

Hartline Investment Corp decreased its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 3.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 7,786 shares of the technology company’s stock after selling 320 shares during the period. Hartline Investment Corp’s holdings in Veeva Systems were worth $1,637,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. General American Investors Co. Inc. bought a new position in Veeva Systems during the 3rd quarter worth approximately $5,133,000. Toronto Dominion Bank boosted its stake in Veeva Systems by 39.1% during the 3rd quarter. Toronto Dominion Bank now owns 20,180 shares of the technology company’s stock worth $4,235,000 after acquiring an additional 5,673 shares during the last quarter. Procyon Advisors LLC bought a new position in Veeva Systems during the 3rd quarter worth approximately $712,000. Principal Financial Group Inc. boosted its stake 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 acquiring an additional 1,267,061 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its stake in Veeva Systems by 3.6% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 78,000 shares of the technology company’s stock worth $16,370,000 after acquiring an additional 2,733 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of the company’s stock in a transaction 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 transaction, the senior vice president now directly owns 8,061 shares in the company, valued at $1,856,448.30. The trade was a 17.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 10.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on VEEV shares. Morgan Stanley lifted their price objective on shares of Veeva Systems from $183.00 to $195.00 and gave the stock an “underweight” rating in a research note on Tuesday, December 17th. Mizuho initiated coverage on shares of Veeva Systems in a research note on Wednesday, December 4th. They set an “outperform” rating and a $275.00 price objective on the stock. Royal Bank of Canada lifted their price target on shares of Veeva Systems from $275.00 to $285.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Canaccord Genuity Group lifted their price target 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, StockNews.com lowered shares of Veeva Systems from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Veeva Systems presently has an average rating of “Moderate Buy” and a consensus price target of $253.96.

Veeva Systems Trading Up 0.1 %

Shares of VEEV opened at $237.38 on Tuesday. The company has a market cap of $38.54 billion, a price-to-earnings ratio of 58.61, a PEG ratio of 1.97 and a beta of 0.85. Veeva Systems Inc. has a 1-year low of $170.25 and a 1-year high of $258.93. The company’s fifty day simple moving average is $224.48 and its 200 day simple moving average is $214.76.

Veeva Systems 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.