Westover Capital Advisors LLC bought a new position in shares of Veeva Systems Inc (NYSE:VEEV) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,280 shares of the technology company’s stock, valued at approximately $237,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its holdings in shares of Veeva Systems by 21.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,131 shares of the technology company’s stock worth $315,000 after purchasing an additional 914 shares during the period. Nationwide Fund Advisors raised its holdings in shares of Veeva Systems by 19.3% in the 3rd quarter. Nationwide Fund Advisors now owns 294,547 shares of the technology company’s stock worth $16,615,000 after purchasing an additional 47,670 shares during the period. BNP Paribas Arbitrage SA raised its holdings in shares of Veeva Systems by 24.4% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 11,416 shares of the technology company’s stock worth $644,000 after purchasing an additional 2,240 shares during the period. New York State Common Retirement Fund raised its holdings in shares of Veeva Systems by 2.2% in the 3rd quarter. New York State Common Retirement Fund now owns 1,619,820 shares of the technology company’s stock worth $91,374,000 after purchasing an additional 35,073 shares during the period. Finally, Toronto Dominion Bank raised its holdings in shares of Veeva Systems by 246.0% in the 3rd quarter. Toronto Dominion Bank now owns 4,536 shares of the technology company’s stock worth $256,000 after purchasing an additional 3,225 shares during the period. Hedge funds and other institutional investors own 73.09% of the company’s stock.

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Shares of Veeva Systems stock opened at $76.30 on Thursday. Veeva Systems Inc has a 12 month low of $47.58 and a 12 month high of $78.28. The firm has a market capitalization of $10,922.99, a P/E ratio of 82.04, a price-to-earnings-growth ratio of 4.65 and a beta of 1.46.

In other Veeva Systems news, SVP Frederic Lequient sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $62.00, for a total transaction of $930,000.00. Following the completion of the sale, the senior vice president now owns 15,000 shares in the company, valued at approximately $930,000. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Alan Mateo sold 701 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $58.85, for a total value of $41,253.85. Following the sale, the executive vice president now owns 9,512 shares of the company’s stock, valued at approximately $559,781.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 209,723 shares of company stock valued at $14,864,133. 17.50% of the stock is owned by insiders.

A number of equities analysts have recently commented on VEEV shares. Canaccord Genuity restated a “buy” rating and issued a $70.00 price objective on shares of Veeva Systems in a report on Wednesday, December 6th. Morgan Stanley upgraded Veeva Systems from an “equal weight” rating to an “overweight” rating in a report on Tuesday, January 30th. DA Davidson assumed coverage on Veeva Systems in a research note on Friday, February 2nd. They issued a “buy” rating and a $75.00 target price for the company. Zacks Investment Research lowered Veeva Systems from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Finally, Vetr upgraded Veeva Systems from a “buy” rating to a “strong-buy” rating and set a $61.05 target price for the company in a research note on Thursday, February 8th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. Veeva Systems currently has an average rating of “Buy” and an average price target of $71.47.

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Veeva Systems Company Profile

Veeva Systems Inc (Veeva) is a provider of cloud-based software solutions for the global life sciences industry. The Company offers solutions for a range of requirements within life sciences companies, including multichannel customer relationship management, regulated content and information management, master data management and customer data.

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Institutional Ownership by Quarter for Veeva Systems (NYSE:VEEV)

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