Greystone Financial Group LLC Raises Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Greystone Financial Group LLC boosted its holdings in Veeva Systems Inc. (NYSE:VEEV) by 69.3% in the second quarter, Holdings Channel.com reports. The institutional investor owned 3,136 shares of the technology company’s stock after acquiring an additional 1,284 shares during the period. Greystone Financial Group LLC’s holdings in Veeva Systems were worth $574,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of VEEV. Advisors Asset Management Inc. bought a new stake in shares of Veeva Systems during the 1st quarter valued at about $28,000. DSM Capital Partners LLC bought a new stake in shares of Veeva Systems during the 4th quarter valued at about $29,000. First Financial Corp IN bought a new stake in shares of Veeva Systems during the 1st quarter valued at about $35,000. Larson Financial Group LLC grew its stake in shares of Veeva Systems by 1,153.8% during the 1st quarter. Larson Financial Group LLC now owns 163 shares of the technology company’s stock valued at $38,000 after purchasing an additional 150 shares during the period. Finally, Vermillion & White Wealth Management Group LLC bought a new stake in shares of Veeva Systems during the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Jonathan Faddis sold 2,353 shares of Veeva Systems stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total transaction of $470,600.00. Following the sale, the senior vice president now directly owns 9,035 shares of the company’s stock, valued at approximately $1,807,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 10.50% of the company’s stock.

Veeva Systems Stock Up 0.3 %

Shares of NYSE VEEV traded up $0.58 during mid-day trading on Friday, reaching $215.89. 775,935 shares of the company were exchanged, compared to its average volume of 965,400. The company’s 50-day simple moving average is $192.22 and its 200-day simple moving average is $202.00. The stock has a market capitalization of $34.90 billion, a P/E ratio of 63.71, a P/E/G ratio of 2.12 and a beta of 0.81. Veeva Systems Inc. has a twelve month low of $162.72 and a twelve month high of $236.90.

Analyst Ratings Changes

Several brokerages have recently issued reports on VEEV. Barclays upped their price objective on Veeva Systems from $220.00 to $240.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. BTIG Research assumed coverage on Veeva Systems in a report on Tuesday, July 9th. They issued a “buy” rating and a $240.00 price objective on the stock. Stifel Nicolaus reduced their price objective on Veeva Systems from $250.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, May 31st. Canaccord Genuity Group cut their price objective on Veeva Systems from $220.00 to $210.00 and set a “hold” rating on the stock in a report on Friday, May 31st. Finally, Raymond James upped their price objective on Veeva Systems from $230.00 to $235.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $230.57.

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.