Coldstream Capital Management Inc. Increases Stake in Veeva Systems Inc. (NYSE:VEEV)

Coldstream Capital Management Inc. raised its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 95.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,866 shares of the technology company’s stock after purchasing an additional 2,374 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Veeva Systems were worth $1,077,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Veeva Systems in the third quarter valued at approximately $26,000. True Wealth Design LLC lifted its stake in Veeva Systems by 3,375.0% in the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock worth $29,000 after purchasing an additional 135 shares in the last quarter. Blue Trust Inc. grew its position in shares of Veeva Systems by 3,460.0% during the 2nd quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock valued at $33,000 after purchasing an additional 173 shares in the last quarter. DT Investment Partners LLC bought a new position in shares of Veeva Systems in the second quarter worth $35,000. Finally, Fairscale Capital LLC purchased a new stake in shares of Veeva Systems in the second quarter worth $46,000. Institutional investors own 88.20% of the company’s stock.

Insider Buying and Selling

In related news, SVP Jonathan Faddis sold 1,694 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total value of $390,128.20. Following the transaction, the senior vice president now directly owns 8,061 shares of the company’s stock, valued at approximately $1,856,448.30. This represents a 17.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Thomas D. Schwenger sold 1,126 shares of Veeva Systems stock in a transaction on Friday, November 8th. The stock was sold at an average price of $240.01, for a total value 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 approximately $6,483,390.13. The trade was a 4.00 % decrease in their position. The disclosure for this sale can be found here. 10.50% of the stock is currently owned by company insiders.

Veeva Systems Price Performance

NYSE:VEEV opened at $232.48 on Friday. The firm has a market capitalization of $37.65 billion, a P/E ratio of 57.40, a PEG ratio of 2.07 and a beta of 0.82. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93. The company’s 50-day simple moving average is $220.31 and its 200 day simple moving average is $203.63.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on VEEV shares. BNP Paribas initiated coverage on Veeva Systems in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $286.00 target price on the stock. Piper Sandler upped their price objective on shares of Veeva Systems from $280.00 to $290.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. StockNews.com upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. Citigroup increased their price target on shares of Veeva Systems from $281.00 to $307.00 and gave the stock a “buy” rating in a report on Monday. Finally, Canaccord Genuity Group upped their target price on shares of Veeva Systems from $210.00 to $270.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Veeva Systems presently has a consensus rating of “Moderate Buy” and an average target price of $255.35.

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.