Oak Thistle LLC Increases Stake in Veeva Systems Inc. (NYSE:VEEV)

Oak Thistle LLC grew its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 789.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 12,093 shares of the technology company’s stock after buying an additional 10,734 shares during the quarter. Veeva Systems comprises approximately 0.8% of Oak Thistle LLC’s holdings, making the stock its 12th largest holding. Oak Thistle LLC’s holdings in Veeva Systems were worth $2,543,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in Veeva Systems during the 3rd quarter valued at $26,000. True Wealth Design LLC raised its stake in shares of Veeva Systems by 3,375.0% during the third quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock valued at $29,000 after acquiring an additional 135 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of Veeva Systems during the third quarter worth about $49,000. Fairscale Capital LLC bought a new stake in shares of Veeva Systems in the second quarter worth about $46,000. Finally, Quent Capital LLC lifted its holdings in Veeva Systems by 794.1% in the 3rd quarter. Quent Capital LLC now owns 304 shares of the technology company’s stock worth $64,000 after buying an additional 270 shares during the period. 88.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. StockNews.com raised Veeva Systems from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. BNP Paribas started coverage on shares of Veeva Systems in a report on Tuesday, October 8th. They issued an “outperform” rating and a $286.00 price objective for the company. Evercore ISI lifted their target price on shares of Veeva Systems from $220.00 to $245.00 and gave the company an “in-line” rating in a research note on Friday, December 6th. Royal Bank of Canada increased their price target on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Finally, Bank of America lifted their price objective on Veeva Systems from $280.00 to $290.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $255.74.

Insiders Place Their Bets

In other news, insider Thomas D. Schwenger sold 1,126 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $240.01, for a total value of $270,251.26. Following the transaction, 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 Securities & Exchange Commission, which is available at this link. Also, SVP Jonathan Faddis sold 1,694 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president now owns 8,061 shares of the company’s stock, valued at $1,856,448.30. This trade represents a 17.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.50% of the stock is currently owned by insiders.

Veeva Systems Stock Down 1.0 %

Shares of VEEV stock opened at $210.81 on Wednesday. The firm has a market capitalization of $34.23 billion, a PE ratio of 52.05, a P/E/G ratio of 2.03 and a beta of 0.84. The company has a 50 day moving average price of $222.94 and a 200-day moving average price of $209.17. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93.

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.