Diversified Trust Co Has $2.54 Million Holdings in Veeva Systems Inc. $VEEV

Key Points

• Diversified Trust Co reduced its holdings in Veeva Systems Inc. by 22.1%, now owning 8,818 shares worth approximately $2.54 million.
• Insider selling activity includes SVP Jonathan Faddis, who sold 720 shares for about $205,646, and Director Priscilla Hung, who sold 172 shares for approximately $48,676.
• Veeva Systems' stock has seen recent price upgrades from several firms, with Needham & Company raising their target from $300 to $355 and maintaining a "buy" rating.

Diversified Trust Co cut its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 22.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,818 shares of the technology company's stock after selling 2,500 shares during the quarter. Diversified Trust Co's holdings in Veeva Systems were worth $2,539,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Abound Financial LLC bought a new position in shares of Veeva Systems in the first quarter valued at $25,000. ORG Partners LLC bought a new position in shares of Veeva Systems in the first quarter valued at $26,000. Golden State Wealth Management LLC grew its stake in shares of Veeva Systems by 152.9% in the first quarter. Golden State Wealth Management LLC now owns 129 shares of the technology company's stock valued at $30,000 after buying an additional 78 shares in the last quarter. Wayfinding Financial LLC bought a new position in shares of Veeva Systems in the first quarter valued at $32,000. Finally, Key Financial Inc grew its stake in shares of Veeva Systems by 161.0% in the first quarter. Key Financial Inc now owns 154 shares of the technology company's stock valued at $36,000 after buying an additional 95 shares in the last quarter. 88.20% of the stock is owned by institutional investors.

Veeva Systems Stock Down 0.8%

VEEV opened at $276.98 on Friday. The stock has a market capitalization of $45.40 billion, a price-to-earnings ratio of 56.87, a P/E/G ratio of 2.16 and a beta of 0.95. Veeva Systems Inc. has a twelve month low of $200.30 and a twelve month high of $296.72. The company has a 50-day simple moving average of $280.65 and a 200 day simple moving average of $259.25.

Insider Buying and Selling

In other Veeva Systems news, SVP Jonathan Faddis sold 720 shares of the 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 transaction, the senior vice president directly owned 7,902 shares in the company, valued at approximately $2,256,969.24. This represents a 8.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Priscilla Hung sold 172 shares of the stock in a transaction that occurred on Thursday, July 3rd. The stock was 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 in the company, valued at $1,170,771. The trade was a 3.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,063 shares of company stock worth $302,955 over the last 90 days. Company insiders own 10.30% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on VEEV. Needham & Company LLC raised their target price on shares of Veeva Systems from $300.00 to $355.00 and gave the company a "buy" rating in a research note on Thursday, August 28th. Citigroup lifted their price objective on shares of Veeva Systems from $329.00 to $349.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. Barclays lifted their price objective 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. Morgan Stanley lifted their price objective on shares of Veeva Systems from $210.00 to $222.00 and gave the stock an "underweight" rating in a research report on Thursday, August 28th. Finally, Mizuho lifted their price objective on shares of Veeva Systems from $295.00 to $325.00 and gave the stock an "outperform" rating in a research report on Friday, August 29th. Seventeen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $301.48.

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.

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