Castlekeep Investment Advisors LLC Invests $1.99 Million in Veeva Systems Inc. (NYSE:VEEV)

Castlekeep Investment Advisors LLC acquired a new stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 9,461 shares of the technology company's stock, valued at approximately $1,989,000.

A number of other large investors have also recently bought and sold shares of the business. Cardinal Capital Management grew its stake in Veeva Systems by 0.3% in the 4th quarter. Cardinal Capital Management now owns 15,727 shares of the technology company's stock valued at $3,307,000 after buying an additional 44 shares during the last quarter. Johnson Financial Group Inc. increased its stake in shares of Veeva Systems by 22.7% in the fourth quarter. Johnson Financial Group Inc. now owns 238 shares of the technology company's stock worth $56,000 after purchasing an additional 44 shares during the period. MassMutual Private Wealth & Trust FSB lifted its position in shares of Veeva Systems by 72.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company's stock worth $25,000 after purchasing an additional 50 shares during the last quarter. Patriot Financial Group Insurance Agency LLC boosted its stake in Veeva Systems by 0.7% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 6,975 shares of the technology company's stock valued at $1,467,000 after purchasing an additional 51 shares during the period. Finally, CHICAGO TRUST Co NA grew its holdings in Veeva Systems by 2.9% in the 4th quarter. CHICAGO TRUST Co NA now owns 1,880 shares of the technology company's stock valued at $395,000 after buying an additional 53 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors.

Insider Activity at Veeva Systems

In other news, Director Timothy S. Cabral sold 3,882 shares of Veeva Systems stock in a transaction on Friday, April 4th. The shares were sold at an average price of $216.83, for a total transaction of $841,734.06. Following the transaction, the director now directly owns 5,500 shares of the company's stock, valued at $1,192,565. This trade represents a 41.38 % 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 1,200 shares of the company's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $220.97, for a total transaction of $265,164.00. Following the completion of the sale, the insider now owns 25,889 shares of the company's stock, valued at approximately $5,720,692.33. This represents a 4.43 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,869 shares of company stock worth $1,284,917. 10.50% of the stock is currently owned by company insiders.

Veeva Systems Price Performance

Shares of Veeva Systems stock traded down $2.93 during trading on Friday, hitting $236.60. 977,455 shares of the company were exchanged, compared to its average volume of 1,085,187. The firm has a market capitalization of $38.49 billion, a P/E ratio of 58.42, a price-to-earnings-growth ratio of 1.89 and a beta of 0.96. The firm's fifty day moving average price is $227.98 and its 200 day moving average price is $225.30. Veeva Systems Inc. has a 1-year low of $170.25 and a 1-year high of $258.93.

Analysts Set New Price Targets

VEEV has been the subject of a number of research analyst reports. StockNews.com upgraded Veeva Systems from a "hold" rating to a "buy" rating in a report on Monday, February 17th. JPMorgan Chase & Co. lifted their target price on Veeva Systems from $218.00 to $249.00 and gave the stock a "neutral" rating in a research report on Thursday, March 20th. Robert W. Baird raised their price objective on shares of Veeva Systems from $283.00 to $285.00 and gave the stock an "outperform" rating in a report on Thursday, March 6th. Truist Financial raised their price target on shares of Veeva Systems from $210.00 to $217.00 and gave the stock a "hold" rating in a research note on Thursday, March 6th. Finally, Scotiabank increased their target price on Veeva Systems from $240.00 to $245.00 and gave the stock a "sector perform" rating in a report on Thursday, March 6th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $254.92.

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.