Union Bancaire Privee UBP SA Invests $3.53 Million in Veeva Systems Inc. (NYSE:VEEV)

Union Bancaire Privee UBP SA acquired a new stake in Veeva Systems Inc. (NYSE:VEEV) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 17,266 shares of the technology company’s stock, valued at approximately $3,525,000.

A number of other hedge funds also recently bought and sold shares of VEEV. Blue Trust Inc. grew its position in Veeva Systems by 28.0% in the fourth quarter. Blue Trust Inc. now owns 1,262 shares of the technology company’s stock worth $265,000 after acquiring an additional 276 shares during the period. First Citizens Bank & Trust Co. acquired a new position in shares of Veeva Systems in the 4th quarter valued at $210,000. Archford Capital Strategies LLC grew its holdings in shares of Veeva Systems by 8.1% during the 4th quarter. Archford Capital Strategies LLC now owns 5,410 shares of the technology company’s stock worth $1,137,000 after purchasing an additional 404 shares during the period. B.O.S.S. Retirement Advisors LLC acquired a new stake in shares of Veeva Systems during the 4th quarter worth about $1,088,000. Finally, AEGON ASSET MANAGEMENT UK Plc boosted its stake in Veeva Systems by 10.1% during the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 117,757 shares of the technology company’s stock worth $24,755,000 after buying an additional 10,836 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Analysts Set New Price Targets

VEEV has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their price target on shares of Veeva Systems from $275.00 to $285.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Evercore ISI boosted their target price on Veeva Systems from $220.00 to $245.00 and gave the company an “in-line” rating in a research report on Friday, December 6th. Robert W. Baird lifted their price objective on Veeva Systems from $275.00 to $283.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. The Goldman Sachs Group cut Veeva Systems from a “buy” rating to a “sell” rating and lowered their target price for the company from $261.00 to $200.00 in a report on Thursday. Finally, Barclays increased their price target on shares of Veeva Systems from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, Veeva Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $253.96.

Insider Buying and Selling

In other news, insider Thomas D. Schwenger sold 1,126 shares of the company’s stock in a transaction 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Jonathan Faddis sold 1,694 shares of the business’s 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 sale, the senior vice president now owns 8,061 shares in the company, valued at approximately $1,856,448.30. The trade was a 17.37 % decrease in their position. The disclosure for this sale can be found here. 10.50% of the stock is currently owned by insiders.

Veeva Systems Trading Up 0.2 %

NYSE:VEEV opened at $223.37 on Monday. The company has a 50-day moving average of $221.63 and a 200-day moving average of $211.09. The firm has a market cap of $36.26 billion, a price-to-earnings ratio of 55.15, a price-to-earnings-growth ratio of 2.01 and a beta of 0.84. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93.

Veeva Systems Company 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.