Plato Investment Management Ltd Has $1.55 Million Holdings in Veeva Systems Inc. $VEEV

Plato Investment Management Ltd lessened its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 0.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,625 shares of the technology company’s stock after selling 56 shares during the quarter. Plato Investment Management Ltd’s holdings in Veeva Systems were worth $1,551,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. TFB Advisors LLC lifted its holdings in shares of Veeva Systems by 1.2% during the first quarter. TFB Advisors LLC now owns 3,586 shares of the technology company’s stock valued at $831,000 after acquiring an additional 44 shares during the period. Marks Group Wealth Management Inc increased its position in shares of Veeva Systems by 3.3% during the 1st quarter. Marks Group Wealth Management Inc now owns 1,427 shares of the technology company’s stock worth $331,000 after purchasing an additional 46 shares in the last quarter. Harbour Investments Inc. lifted its holdings in Veeva Systems by 7.6% during the 1st quarter. Harbour Investments Inc. now owns 789 shares of the technology company’s stock valued at $183,000 after purchasing an additional 56 shares during the last quarter. CoreCap Advisors LLC boosted its position in Veeva Systems by 31.7% in the fourth quarter. CoreCap Advisors LLC now owns 249 shares of the technology company’s stock valued at $52,000 after buying an additional 60 shares in the last quarter. Finally, Crestwood Advisors Group LLC grew its stake in Veeva Systems by 3.7% during the first quarter. Crestwood Advisors Group LLC now owns 1,690 shares of the technology company’s stock worth $391,000 after buying an additional 61 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors.

Insider Transactions at Veeva Systems

In other news, Director Priscilla Hung sold 172 shares of the firm’s stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $283.00, for a total value of $48,676.00. Following the transaction, the director owned 4,137 shares of the company’s stock, valued at approximately $1,170,771. This trade represents a 3.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jonathan Faddis sold 720 shares of Veeva Systems stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $285.62, for a total transaction of $205,646.40. Following the sale, the senior vice president owned 7,902 shares of the company’s stock, valued at approximately $2,256,969.24. This represents a 8.35% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,063 shares of company stock worth $302,955. Corporate insiders own 10.30% of the company’s stock.

Veeva Systems Stock Down 2.7%

Shares of VEEV opened at $274.99 on Thursday. The stock’s fifty day simple moving average is $281.09 and its 200-day simple moving average is $256.38. The firm has a market capitalization of $45.07 billion, a PE ratio of 56.47, a price-to-earnings-growth ratio of 2.20 and a beta of 0.95. Veeva Systems Inc. has a 12-month low of $200.30 and a 12-month high of $296.72.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Morgan Stanley lifted their target price on shares of Veeva Systems from $210.00 to $222.00 and gave the company an “underweight” rating in a research note on Thursday, August 28th. Needham & Company LLC raised their price target on Veeva Systems from $300.00 to $355.00 and gave the company a “buy” rating in a report on Thursday, August 28th. UBS Group boosted their price objective on Veeva Systems from $285.00 to $310.00 and gave the stock a “neutral” rating in a research note on Thursday, August 28th. Canaccord Genuity Group raised their target price on Veeva Systems from $270.00 to $300.00 and gave the company a “hold” rating in a research note on Thursday, August 28th. Finally, Barclays upped their price target on shares of Veeva Systems from $300.00 to $325.00 and gave the stock an “overweight” rating in a research report on Thursday, August 28th. Seventeen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $301.48.

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.