Park Place Capital Corp Sells 74 Shares of Veeva Systems Inc. (NYSE:VEEV)

Park Place Capital Corp decreased its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 12.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 500 shares of the technology company’s stock after selling 74 shares during the period. Park Place Capital Corp’s holdings in Veeva Systems were worth $105,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in VEEV. Dakota Wealth Management bought a new position in Veeva Systems in the 4th quarter worth about $1,471,000. Clear Harbor Asset Management LLC raised its holdings in Veeva Systems by 4.0% in the fourth quarter. Clear Harbor Asset Management LLC now owns 8,800 shares of the technology company’s stock worth $1,850,000 after buying an additional 335 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Veeva Systems by 72.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock worth $25,000 after buying an additional 50 shares in the last quarter. Seilern Investment Management Ltd purchased a new stake in shares of Veeva Systems during the fourth quarter valued at approximately $94,957,000. Finally, Diversify Wealth Management LLC increased its position in shares of Veeva Systems by 3.3% during the fourth quarter. Diversify Wealth Management LLC now owns 10,496 shares of the technology company’s stock valued at $2,286,000 after acquiring an additional 335 shares in the last quarter. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on VEEV shares. Barclays increased their target price on Veeva Systems from $260.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Needham & Company LLC reiterated a “buy” rating and issued a $270.00 price objective on shares of Veeva Systems in a report on Friday, January 17th. Bank of America upped their target price on shares of Veeva Systems from $280.00 to $290.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Scotiabank lifted their price target on shares of Veeva Systems from $235.00 to $240.00 and gave the stock a “sector perform” rating in a research note on Friday, December 6th. Finally, Royal Bank of Canada increased their price objective on shares of Veeva Systems from $275.00 to $285.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $255.74.

Insider Activity

In other news, SVP Jonathan Faddis sold 1,694 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total value of $390,128.20. Following the transaction, the senior vice president now owns 8,061 shares of the company’s stock, valued at approximately $1,856,448.30. The trade was a 17.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thomas D. Schwenger sold 1,126 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.01, for a total transaction of $270,251.26. Following the transaction, the insider now directly owns 27,013 shares of the company’s stock, valued at $6,483,390.13. The trade was a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 10.50% of the company’s stock.

Veeva Systems Stock Performance

Shares of Veeva Systems stock opened at $229.05 on Thursday. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93. The company has a market capitalization of $37.19 billion, a P/E ratio of 56.56, a P/E/G ratio of 1.96 and a beta of 0.84. The company has a fifty day moving average of $221.64 and a 200 day moving average of $210.39.

About Veeva Systems

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.