Guggenheim Capital LLC trimmed its holdings in Veeva Systems (NYSE:VEEV) by 28.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,882 shares of the technology company’s stock after selling 9,683 shares during the period. Guggenheim Capital LLC’s holdings in Veeva Systems were worth $1,376,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of VEEV. Cerebellum GP LLC bought a new stake in Veeva Systems in the fourth quarter worth approximately $129,000. American International Group Inc. bought a new stake in Veeva Systems in the fourth quarter worth approximately $142,000. Northwestern Mutual Wealth Management Co. grew its position in Veeva Systems by 154.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,176 shares of the technology company’s stock worth $176,000 after acquiring an additional 1,927 shares in the last quarter. HL Financial Services LLC bought a new stake in Veeva Systems in the fourth quarter worth approximately $210,000. Finally, Caisse DE Depot ET Placement DU Quebec bought a new stake in Veeva Systems in the fourth quarter worth approximately $232,000. 73.11% of the stock is owned by institutional investors.
NYSE VEEV opened at $72.85 on Friday. The firm has a market cap of $10,539.95, a P/E ratio of 79.18, a PEG ratio of 4.48 and a beta of 1.39. Veeva Systems has a 1 year low of $51.63 and a 1 year high of $78.28.
In other Veeva Systems news, SVP Frederic Lequient sold 15,000 shares of the stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $62.00, for a total value of $930,000.00. Following the completion of the sale, the senior vice president now directly owns 15,000 shares of the company’s stock, valued at approximately $930,000. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Alan Mateo sold 603 shares of the stock in a transaction on Monday, April 16th. The shares were sold at an average price of $72.59, for a total transaction of $43,771.77. Following the completion of the sale, the executive vice president now directly owns 11,221 shares of the company’s stock, valued at $814,532.39. The disclosure for this sale can be found here. Over the last three months, insiders sold 196,733 shares of company stock valued at $14,341,000. Insiders own 19.17% of the company’s stock.
Several analysts recently issued reports on the stock. Canaccord Genuity upped their price objective on shares of Veeva Systems from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Stifel Nicolaus upped their price objective on shares of Veeva Systems from $67.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Morgan Stanley upped their price objective on shares of Veeva Systems from $72.00 to $76.00 and gave the stock an “overweight” rating in a report on Thursday, March 1st. DA Davidson assumed coverage on shares of Veeva Systems in a report on Friday, February 2nd. They set a “buy” rating and a $75.00 price objective for the company. Finally, ValuEngine raised shares of Veeva Systems from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $72.23.
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Veeva Systems Company Profile
Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, and internationally. The company offers Veeva Commercial Cloud, a suite of multichannel customer relationship management applications, which allow pharmaceutical and biotechnology companies to target and support sales and marketing to physicians, other healthcare professionals, and healthcare organizations through various touch points, including in-person, email, and online; and Veeva Vault, a cloud-based enterprise content management platform and suite of applications for managing commercial functions, including medical, sales, and marketing, as well as research and development functions, such as clinical, regulatory, and quality.
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