Veeva Systems Inc. (NYSE:VEEV) Shares Purchased by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC lifted its position in Veeva Systems Inc. (NYSE:VEEV) by 6.9% during the third quarter, HoldingsChannel.com reports. The fund owned 8,195 shares of the technology company’s stock after acquiring an additional 527 shares during the period. Orion Portfolio Solutions LLC’s holdings in Veeva Systems were worth $1,720,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its stake in Veeva Systems by 30.4% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 12,363 shares of the technology company’s stock worth $2,263,000 after buying an additional 2,884 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in Veeva Systems by 44.9% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 29,782 shares of the technology company’s stock worth $5,450,000 after buying an additional 9,232 shares during the last quarter. Triad Wealth Partners LLC purchased a new stake in Veeva Systems in the second quarter valued at $115,000. Blue Trust Inc. raised its position in Veeva Systems by 3,460.0% in the second quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock valued at $33,000 after purchasing an additional 173 shares during the period. Finally, Rovin Capital UT ADV raised its position in Veeva Systems by 29.0% in the second quarter. Rovin Capital UT ADV now owns 3,669 shares of the technology company’s stock valued at $671,000 after purchasing an additional 825 shares during the period. 88.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

VEEV has been the topic of a number of research analyst reports. Barclays lifted their target price on Veeva Systems from $260.00 to $275.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Robert W. Baird lifted their target price on Veeva Systems from $275.00 to $283.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. StockNews.com upgraded Veeva Systems from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Raymond James boosted their price objective on Veeva Systems from $230.00 to $235.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Finally, Citigroup increased their price objective on Veeva Systems from $281.00 to $307.00 and gave the company a “buy” rating in a report on Monday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $255.35.

Insider Transactions at Veeva Systems

In other news, insider Thomas D. Schwenger sold 1,126 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.01, for a total transaction of $270,251.26. Following the transaction, the insider now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Jonathan Faddis sold 1,694 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total transaction of $390,128.20. Following the completion of the transaction, the senior vice president now directly 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 owned by company insiders.

Veeva Systems Trading Down 0.6 %

VEEV opened at $232.48 on Friday. The firm’s fifty day simple moving average is $220.31 and its 200 day simple moving average is $203.63. Veeva Systems Inc. has a 12 month low of $170.25 and a 12 month high of $258.93. The stock has a market capitalization of $37.65 billion, a P/E ratio of 57.40, a P/E/G ratio of 2.07 and a beta of 0.82.

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.