Tudor Financial Inc. Takes $265,000 Position in Veeva Systems Inc. (NYSE:VEEV)

Tudor Financial Inc. bought a new stake in shares of Veeva Systems Inc. (NYSE:VEEV) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 1,265 shares of the technology company’s stock, valued at approximately $265,000.

A number of other large investors have also bought and sold shares of the stock. Massachusetts Financial Services Co. MA raised its position in shares of Veeva Systems by 64.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company’s stock worth $744,084,000 after purchasing an additional 1,392,256 shares during the period. Principal Financial Group Inc. increased its stake in Veeva Systems by 138.9% during the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock valued at $457,366,000 after purchasing an additional 1,267,061 shares in the last quarter. FMR LLC raised its holdings 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 buying an additional 610,021 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of Veeva Systems by 761.7% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 297,771 shares of the technology company’s stock valued at $62,493,000 after buying an additional 263,214 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of Veeva Systems during the third quarter valued at about $50,584,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Canaccord Genuity Group upped their target price on shares of Veeva Systems from $210.00 to $270.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Barclays upped their price target on Veeva Systems from $260.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. UBS Group raised their price objective on Veeva Systems from $185.00 to $215.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. Stifel Nicolaus upped their price objective on shares of Veeva Systems from $240.00 to $272.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Finally, TD Cowen lifted their target price on shares of Veeva Systems from $180.00 to $192.00 and gave the stock a “hold” rating in a research report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $255.35.

Veeva Systems Price Performance

VEEV opened at $232.48 on Friday. The firm has a market capitalization of $37.65 billion, a P/E ratio of 57.40, a price-to-earnings-growth ratio of 2.07 and a beta of 0.82. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93. The company has a fifty day moving average price of $220.31 and a 200-day moving average price of $203.63.

Insider Activity at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of Veeva Systems stock in a transaction that occurred on 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 $1,856,448.30. The trade was a 17.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Thomas D. Schwenger sold 1,126 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $240.01, for a total transaction of $270,251.26. Following the completion of the transaction, the insider now directly owns 27,013 shares in the company, valued at $6,483,390.13. The trade was a 4.00 % decrease in their position. The disclosure for this sale can be found here. 10.50% of the stock is owned by corporate insiders.

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.