Alhambra Investment Management LLC Invests $259,000 in Veeva Systems Inc. (NYSE:VEEV)

Alhambra Investment Management LLC acquired a new stake in shares of Veeva Systems Inc. (NYSE:VEEV) during the fourth quarter, HoldingsChannel reports. The fund acquired 1,234 shares of the technology company’s stock, valued at approximately $259,000.

A number of other hedge funds also recently bought and sold shares of the company. J.W. Cole Advisors Inc. purchased a new stake in shares of Veeva Systems during the second quarter valued at approximately $221,000. Dimensional Fund Advisors LP raised its holdings in Veeva Systems by 26.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 378,380 shares of the technology company’s stock valued at $69,259,000 after buying an additional 78,654 shares during the last quarter. Argent Trust Co boosted its position in Veeva Systems by 12.6% during the 2nd quarter. Argent Trust Co now owns 5,498 shares of the technology company’s stock valued at $1,006,000 after buying an additional 616 shares during the period. Amalgamated Bank grew its holdings in Veeva Systems by 2.1% in the 2nd quarter. Amalgamated Bank now owns 9,968 shares of the technology company’s stock worth $1,824,000 after acquiring an additional 201 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its position in shares of Veeva Systems by 8.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 10,388 shares of the technology company’s stock valued at $1,901,000 after acquiring an additional 819 shares during the period. Institutional investors own 88.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on VEEV shares. Stephens initiated coverage on shares of Veeva Systems in a report on Friday, December 20th. They set an “overweight” rating and a $280.00 target price for the company. Mizuho assumed coverage on Veeva Systems in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $275.00 price objective on the stock. Barclays raised their price target on Veeva Systems from $260.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. boosted their price objective on shares of Veeva Systems from $208.00 to $218.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. Finally, StockNews.com raised shares of Veeva Systems from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, Veeva Systems currently has a consensus rating of “Moderate Buy” and an average price target of $255.74.

Veeva Systems Stock Up 0.9 %

Shares of NYSE:VEEV opened at $216.67 on Friday. The stock has a market capitalization of $35.18 billion, a PE ratio of 53.50, a price-to-earnings-growth ratio of 1.91 and a beta of 0.84. The firm’s 50 day moving average price is $222.68 and its 200-day moving average price is $209.23. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of the firm’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 in the company, valued at approximately $1,856,448.30. This trade represents a 17.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas D. Schwenger sold 1,126 shares of the company’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 completion of the transaction, the insider now owns 27,013 shares of the company’s stock, valued at approximately $6,483,390.13. The trade was a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.50% of the stock is owned by corporate insiders.

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.