Clear Harbor Asset Management LLC Buys 335 Shares of Veeva Systems Inc. (NYSE:VEEV)

Clear Harbor Asset Management LLC grew its position in Veeva Systems Inc. (NYSE:VEEV) by 4.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,800 shares of the technology company’s stock after purchasing an additional 335 shares during the period. Clear Harbor Asset Management LLC’s holdings in Veeva Systems were worth $1,850,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB grew its position in Veeva Systems by 72.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock valued at $25,000 after purchasing an additional 50 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Veeva Systems in the 3rd quarter valued at about $26,000. True Wealth Design LLC increased its position in shares of Veeva Systems by 3,375.0% in 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. Retirement Wealth Solutions LLC bought a new stake in Veeva Systems during the fourth quarter worth about $31,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in Veeva Systems during the third quarter valued at approximately $49,000. 88.20% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Veeva Systems

In other news, SVP Jonathan Faddis sold 1,694 shares of the 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 completion of the sale, the senior vice president now owns 8,061 shares of the company’s stock, valued at approximately $1,856,448.30. This represents a 17.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction of $270,251.26. Following the sale, the insider now directly owns 27,013 shares of the company’s stock, valued at $6,483,390.13. This represents a 4.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 10.50% of the company’s stock.

Veeva Systems Stock Performance

Shares of VEEV opened at $216.67 on Tuesday. The stock has a market capitalization of $35.18 billion, a price-to-earnings ratio of 53.50, a PEG ratio of 1.90 and a beta of 0.84. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93. The stock has a fifty day moving average of $222.31 and a 200-day moving average of $209.86.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and set a $270.00 price objective on shares of Veeva Systems in a research note on Friday. JPMorgan Chase & Co. increased their price target on shares of Veeva Systems from $208.00 to $218.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. Canaccord Genuity Group boosted their price objective on shares of Veeva Systems from $210.00 to $270.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Citigroup lifted their price target on Veeva Systems from $281.00 to $307.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Barclays upped their price objective on Veeva Systems from $260.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $255.74.

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.