Martingale Asset Management L P Has $908,000 Position in Veeva Systems Inc. (NYSE:VEEV)

Martingale Asset Management L P decreased its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 10.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,325 shares of the technology company’s stock after selling 490 shares during the quarter. Martingale Asset Management L P’s holdings in Veeva Systems were worth $908,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Veeva Systems in the second quarter valued at approximately $60,000. Mather Group LLC. increased its position in Veeva Systems by 166.3% during the 2nd quarter. Mather Group LLC. now owns 253 shares of the technology company’s stock worth $46,000 after buying an additional 158 shares during the period. Trust Co. of Vermont lifted its holdings in shares of Veeva Systems by 3,636.4% during the second quarter. Trust Co. of Vermont now owns 411 shares of the technology company’s stock worth $75,000 after buying an additional 400 shares in the last quarter. CWM LLC boosted its position in shares of Veeva Systems by 41.5% in the second quarter. CWM LLC now owns 4,196 shares of the technology company’s stock valued at $768,000 after acquiring an additional 1,230 shares during the period. Finally, Linden Thomas Advisory Services LLC grew its stake in shares of Veeva Systems by 13.7% in the second quarter. Linden Thomas Advisory Services LLC now owns 11,929 shares of the technology company’s stock valued at $2,183,000 after acquiring an additional 1,440 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on VEEV. Barclays boosted their price objective on shares of Veeva Systems from $240.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, November 8th. BNP Paribas assumed coverage on Veeva Systems in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $286.00 price target for the company. TD Cowen raised their price objective on Veeva Systems from $180.00 to $192.00 and gave the stock a “hold” rating in a research note on Thursday, August 29th. Scotiabank started coverage on Veeva Systems in a research report on Monday, November 18th. They set a “sector perform” rating and a $235.00 target price for the company. Finally, Raymond James raised their price target 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 equities research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $236.92.

Veeva Systems Price Performance

Veeva Systems stock opened at $227.46 on Tuesday. The business has a 50 day moving average of $216.04 and a 200-day moving average of $202.05. The company has a market capitalization of $36.83 billion, a P/E ratio of 60.66, a P/E/G ratio of 2.21 and a beta of 0.81. Veeva Systems Inc. has a 1 year low of $165.12 and a 1 year high of $240.68.

Insider Buying and Selling at Veeva Systems

In other news, insider Thomas D. Schwenger sold 1,126 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 27,013 shares in the company, valued at $6,483,390.13. This trade represents a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 10.50% of the company’s stock.

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.