Union Bancaire Privee UBP SA Invests $3.53 Million in Veeva Systems Inc. (NYSE:VEEV)

Union Bancaire Privee UBP SA acquired a new stake in shares of Veeva Systems Inc. (NYSE:VEEV) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 17,266 shares of the technology company’s stock, valued at approximately $3,525,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of VEEV. MassMutual Private Wealth & Trust FSB grew its stake in shares of Veeva Systems by 72.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock valued at $25,000 after buying an additional 50 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Veeva Systems in the third quarter valued at approximately $26,000. True Wealth Design LLC increased its stake in shares of Veeva Systems by 3,375.0% during 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 during the last quarter. Retirement Wealth Solutions LLC bought a new position in shares of Veeva Systems during the 4th quarter valued at $31,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in Veeva Systems in the 3rd quarter valued at $49,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Truist Financial decreased their target price on shares of Veeva Systems from $261.00 to $210.00 and set a “hold” rating on the stock in a research report on Monday, January 13th. BNP Paribas began coverage on Veeva Systems in a report on Tuesday, October 8th. They set an “outperform” rating and a $286.00 price target for the company. Wells Fargo & Company lifted their price objective on Veeva Systems from $275.00 to $285.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. StockNews.com lowered shares of Veeva Systems from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, The Goldman Sachs Group lowered Veeva Systems from a “buy” rating to a “sell” rating and decreased their price objective for the company from $261.00 to $200.00 in a research report on Thursday. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $253.96.

Veeva Systems Stock Performance

NYSE:VEEV opened at $223.37 on Monday. The company has a market cap of $36.26 billion, a PE ratio of 55.15, a PEG ratio of 2.01 and a beta of 0.84. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93. The stock has a 50-day simple moving average of $221.63 and a 200 day simple moving average of $211.09.

Insider Transactions at Veeva Systems

In other news, insider Thomas D. Schwenger sold 1,126 shares of Veeva Systems stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.01, for a total value of $270,251.26. Following the completion of the transaction, the insider now owns 27,013 shares of the company’s stock, valued at $6,483,390.13. This trade represents a 4.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Jonathan Faddis sold 1,694 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total transaction of $390,128.20. Following the completion of the sale, the senior vice president now directly owns 8,061 shares in the company, valued at approximately $1,856,448.30. The trade was a 17.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.50% of the stock is currently owned by insiders.

Veeva Systems 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.