Catalyst Capital Advisors LLC Has $76,000 Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Catalyst Capital Advisors LLC lifted its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 332.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 363 shares of the technology company’s stock after buying an additional 279 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Veeva Systems were worth $76,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of VEEV. Massachusetts Financial Services Co. MA lifted its stake in shares of Veeva Systems by 64.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company’s stock worth $744,084,000 after buying an additional 1,392,256 shares during the last quarter. Principal Financial Group Inc. increased its position in Veeva Systems by 138.9% during the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock worth $457,366,000 after acquiring an additional 1,267,061 shares during the period. JPMorgan Chase & Co. increased its position in Veeva Systems by 73.2% during the third quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company’s stock worth $536,972,000 after acquiring an additional 1,081,501 shares during the period. FMR LLC increased its position in Veeva Systems by 25.7% during the third quarter. FMR LLC now owns 2,981,244 shares of the technology company’s stock worth $625,674,000 after acquiring an additional 610,021 shares during the period. Finally, Seilern Investment Management Ltd bought a new position in Veeva Systems during the fourth quarter worth about $94,957,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on VEEV. Bank of America raised their price target on shares of Veeva Systems from $280.00 to $290.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Canaccord Genuity Group raised their price target 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. The Goldman Sachs Group lowered shares of Veeva Systems from a “buy” rating to a “sell” rating and decreased their target price for the company from $261.00 to $200.00 in a report on Thursday, January 23rd. Stephens initiated coverage on shares of Veeva Systems in a report on Friday, December 20th. They issued an “overweight” rating and a $280.00 target price on the stock. Finally, Scotiabank raised their target price on shares of Veeva Systems from $235.00 to $240.00 and gave the company a “sector perform” rating in a report on Friday, December 6th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $253.96.

Insider Buying and Selling

In other news, SVP Jonathan Faddis sold 1,694 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $1,856,448.30. The trade was a 17.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 10.50% of the stock is owned by corporate insiders.

Veeva Systems Price Performance

NYSE:VEEV opened at $233.06 on Wednesday. The firm’s 50 day simple moving average is $224.24 and its 200 day simple moving average is $216.60. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93. The company has a market cap of $37.84 billion, a PE ratio of 57.54, a P/E/G ratio of 1.97 and a beta of 0.85.

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.