Edmond DE Rothschild Holding S.A. Has $105.95 Million Position in Veeva Systems Inc. $VEEV

Key Points

• Edmond DE Rothschild Holding S.A. increased its stake in Veeva Systems by 4.2%, making the company its 10th largest position, valued at approximately $105.9 million.
• Insider trading activity revealed that several executives, including SVP Jonathan Faddis and Director Priscilla Hung, sold shares of Veeva Systems recently, with insiders having sold a total of 1,378 shares worth $394,217 over the past quarter.
• Analysts have raised their price targets for Veeva Systems, with Needham & Company increasing their target to $355 and the consensus price target now sitting at $299.88, reflecting a generally positive outlook.

Edmond DE Rothschild Holding S.A. raised its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 4.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 457,396 shares of the technology company's stock after purchasing an additional 18,350 shares during the quarter. Veeva Systems comprises approximately 1.9% of Edmond DE Rothschild Holding S.A.'s investment portfolio, making the stock its 10th biggest holding. Edmond DE Rothschild Holding S.A. owned 0.28% of Veeva Systems worth $105,947,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Sowell Financial Services LLC acquired a new position in shares of Veeva Systems during the first quarter valued at approximately $274,000. Crossmark Global Holdings Inc. acquired a new position in shares of Veeva Systems during the first quarter valued at approximately $299,000. Janney Montgomery Scott LLC acquired a new position in shares of Veeva Systems during the first quarter valued at approximately $5,876,000. GAMMA Investing LLC increased its stake in shares of Veeva Systems by 13.8% during the first quarter. GAMMA Investing LLC now owns 1,823 shares of the technology company's stock valued at $422,000 after acquiring an additional 221 shares during the period. Finally, Private Trust Co. NA increased its stake in shares of Veeva Systems by 35.0% during the first quarter. Private Trust Co. NA now owns 247 shares of the technology company's stock valued at $57,000 after acquiring an additional 64 shares during the period. Institutional investors and hedge funds own 88.20% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on VEEV shares. UBS Group raised their price objective on shares of Veeva Systems from $285.00 to $310.00 and gave the company a "neutral" rating in a research note on Thursday, August 28th. Wall Street Zen upgraded shares of Veeva Systems from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Needham & Company LLC raised their target price on shares of Veeva Systems from $300.00 to $355.00 and gave the stock a "buy" rating in a report on Thursday, August 28th. JPMorgan Chase & Co. raised their target price on shares of Veeva Systems from $274.00 to $290.00 and gave the stock a "neutral" rating in a report on Thursday, August 28th. Finally, Oppenheimer restated an "outperform" rating and set a $325.00 target price on shares of Veeva Systems in a report on Thursday, August 28th. Sixteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $299.88.

Insider Buying and Selling

In related news, Director Priscilla Hung sold 172 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $283.00, for a total value of $48,676.00. Following the completion of the transaction, the director owned 4,137 shares of the company's stock, valued at approximately $1,170,771. This trade represents a 3.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Jonathan Faddis sold 720 shares of Veeva Systems stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $285.62, for a total transaction of $205,646.40. Following the sale, the senior vice president directly owned 7,902 shares of the company's stock, valued at $2,256,969.24. This trade represents a 8.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,063 shares of company stock valued at $302,955 in the last ninety days. Company insiders own 10.30% of the company's stock.

Veeva Systems Price Performance

Veeva Systems stock traded up $3.06 during midday trading on Friday, reaching $273.12. The stock had a trading volume of 1,438,211 shares, compared to its average volume of 1,318,675. The firm's fifty day simple moving average is $281.33 and its two-hundred day simple moving average is $255.48. Veeva Systems Inc. has a twelve month low of $200.30 and a twelve month high of $296.72. The firm has a market cap of $44.63 billion, a price-to-earnings ratio of 56.08, a PEG ratio of 2.12 and a beta of 0.95.

Veeva Systems Company 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.