Veeva Systems Inc. (NYSE:VEEV) Shares Bought by Huntington National Bank

Huntington National Bank increased its stake in Veeva Systems Inc. (NYSE:VEEV) by 13.3% during the 4th quarter, Holdings Channel reports. The fund owned 1,766 shares of the technology company’s stock after purchasing an additional 207 shares during the quarter. Huntington National Bank’s holdings in Veeva Systems were worth $371,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Principal Financial Group Inc. increased its stake in Veeva Systems by 138.9% in the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock valued at $457,366,000 after purchasing an additional 1,267,061 shares during the last quarter. Captrust Financial Advisors grew its holdings in Veeva Systems by 10.5% during the third quarter. Captrust Financial Advisors now owns 7,865 shares of the technology company’s stock worth $1,651,000 after acquiring an additional 745 shares during the period. Edgestream Partners L.P. acquired a new stake in shares of Veeva Systems during the 3rd quarter valued at approximately $477,000. Benjamin Edwards Inc. grew its stake in Veeva Systems by 650.6% in the 3rd quarter. Benjamin Edwards Inc. now owns 6,620 shares of the technology company’s stock valued at $1,389,000 after acquiring an additional 5,738 shares during the last quarter. Finally, Hilltop Holdings Inc. acquired a new position in shares of Veeva Systems during the 3rd quarter worth approximately $340,000. 88.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Veeva Systems

In related news, SVP Jonathan Faddis sold 787 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total value of $178,019.40. Following the completion of the transaction, the senior vice president now owns 8,668 shares in the company, valued at $1,960,701.60. This trade represents a 8.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 10.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

VEEV has been the topic of a number of research analyst reports. Royal Bank of Canada raised their price target on Veeva Systems from $275.00 to $285.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $270.00 price objective on shares of Veeva Systems in a research report on Thursday, March 6th. Bank of America upped their target price on Veeva Systems from $280.00 to $290.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Stifel Nicolaus boosted their price objective on Veeva Systems from $240.00 to $272.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, The Goldman Sachs Group lowered Veeva Systems from a “buy” rating to a “sell” rating and dropped their target price for the stock from $261.00 to $200.00 in a research report on Thursday, January 23rd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $256.52.

Veeva Systems Price Performance

NYSE VEEV opened at $213.59 on Friday. Veeva Systems Inc. has a 12 month low of $170.25 and a 12 month high of $258.93. The company has a market capitalization of $34.75 billion, a P/E ratio of 52.74, a PEG ratio of 1.89 and a beta of 0.88. The company’s 50 day simple moving average is $231.73 and its 200 day simple moving average is $223.01.

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.