Veeva Systems Inc. (NYSE:VEEV) Shares Bought by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust grew its holdings in Veeva Systems Inc. (NYSE:VEEV) by 109.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 289 shares of the technology company’s stock after purchasing an additional 151 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Veeva Systems were worth $61,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Peloton Wealth Strategists boosted its stake in shares of Veeva Systems by 14.2% during the fourth quarter. Peloton Wealth Strategists now owns 7,498 shares of the technology company’s stock valued at $1,576,000 after acquiring an additional 933 shares during the last quarter. Linscomb Wealth Inc. boosted its stake in shares of Veeva Systems by 6.0% during the 4th quarter. Linscomb Wealth Inc. now owns 11,377 shares of the technology company’s stock worth $2,392,000 after purchasing an additional 644 shares during the last quarter. QRG Capital Management Inc. grew its holdings in shares of Veeva Systems by 4.2% during the fourth quarter. QRG Capital Management Inc. now owns 10,402 shares of the technology company’s stock worth $2,187,000 after buying an additional 415 shares in the last quarter. Versor Investments LP raised its position in shares of Veeva Systems by 149.3% in the fourth quarter. Versor Investments LP now owns 6,484 shares of the technology company’s stock valued at $1,363,000 after buying an additional 3,883 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in shares of Veeva Systems in the fourth quarter valued at approximately $22,545,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems Stock Performance

Veeva Systems stock opened at $219.28 on Tuesday. The firm has a market capitalization of $35.60 billion, a PE ratio of 54.14, a price-to-earnings-growth ratio of 1.89 and a beta of 0.85. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93. The stock’s 50 day moving average price is $223.74 and its 200 day moving average price is $219.35.

Wall Street Analyst Weigh In

Several research firms have commented on VEEV. Citigroup lifted their target price on shares of Veeva Systems from $281.00 to $307.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. The Goldman Sachs Group downgraded Veeva Systems from a “buy” rating to a “sell” rating and lowered their price objective for the company from $261.00 to $200.00 in a research report on Thursday, January 23rd. Royal Bank of Canada increased their target price on Veeva Systems from $275.00 to $285.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. KeyCorp lowered their price target on Veeva Systems from $285.00 to $255.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Finally, Stifel Nicolaus upped their price objective on shares of Veeva Systems from $240.00 to $272.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $255.08.

Insider Activity

In related news, SVP Jonathan Faddis sold 1,694 shares of the firm’s stock in a transaction on 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 sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 10.50% of the company’s stock.

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.