Guggenheim Capital LLC Raises Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Guggenheim Capital LLC lifted its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 9.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,633 shares of the technology company’s stock after acquiring an additional 2,465 shares during the quarter. Guggenheim Capital LLC’s holdings in Veeva Systems were worth $5,810,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Principal Financial Group Inc. boosted its position in Veeva Systems by 138.9% during the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock worth $457,366,000 after purchasing an additional 1,267,061 shares in the last quarter. Smith Group Asset Management LLC boosted its position in shares of Veeva Systems by 2.2% in the 4th quarter. Smith Group Asset Management LLC now owns 82,567 shares of the technology company’s stock worth $17,360,000 after buying an additional 1,749 shares in the last quarter. Everence Capital Management Inc. acquired a new stake in Veeva Systems in the 4th quarter valued at about $816,000. Venturi Wealth Management LLC increased its holdings in Veeva Systems by 2,716.7% during the 4th quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company’s stock valued at $36,000 after acquiring an additional 163 shares in the last quarter. Finally, Nordea Investment Management AB increased its holdings in Veeva Systems by 21.6% during the 4th quarter. Nordea Investment Management AB now owns 261,131 shares of the technology company’s stock valued at $55,073,000 after acquiring an additional 46,440 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insider Transactions at Veeva Systems

In related news, insider Thomas D. Schwenger sold 1,200 shares of the firm’s stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $220.97, for a total value of $265,164.00. Following the sale, the insider now owns 25,889 shares of the company’s stock, valued at approximately $5,720,692.33. This trade represents a 4.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Timothy S. Cabral sold 3,882 shares of the stock in a transaction on Friday, April 4th. The stock was sold at an average price of $216.83, for a total value of $841,734.06. Following the completion of the sale, the director now directly owns 5,500 shares in the company, valued at $1,192,565. This represents a 41.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,869 shares of company stock worth $1,284,917. 10.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Scotiabank increased their price target on shares of Veeva Systems from $240.00 to $245.00 and gave the company a “sector perform” rating in a research report on Thursday, March 6th. KeyCorp lowered their target price on Veeva Systems from $260.00 to $250.00 and set an “overweight” rating on the stock in a report on Wednesday. Robert W. Baird boosted their price target on Veeva Systems from $283.00 to $285.00 and gave the stock an “outperform” rating in a report on Thursday, March 6th. Morgan Stanley increased their price objective on Veeva Systems from $195.00 to $201.00 and gave the company an “underweight” rating in a research note on Thursday, March 6th. Finally, Stephens reissued an “overweight” rating and issued a $280.00 target price on shares of Veeva Systems in a research note on Thursday, March 6th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $256.32.

Veeva Systems Trading Down 2.2 %

Shares of Veeva Systems stock opened at $215.73 on Friday. The stock has a market cap of $35.10 billion, a price-to-earnings ratio of 53.27, a price-to-earnings-growth ratio of 1.89 and a beta of 1.05. The company has a fifty day moving average price of $227.68 and a 200 day moving average price of $223.29. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93.

About Veeva Systems

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.