Landscape Capital Management L.L.C. Takes $297,000 Position in Veeva Systems Inc. $VEEV

Key Points

• Landscape Capital Management has acquired a new stake in Veeva Systems Inc., purchasing 1,282 shares valued at approximately $297,000.
• Key institutional investors, including Vanguard Group and T. Rowe Price, have increased their holdings in Veeva Systems, reflecting strong confidence in the company, which is now 88.20% owned by such investors.
• Wall Street analysts have raised their price targets for Veeva Systems, with a consensus average target price of $299.88 and a majority rating it as a "Moderate Buy."

Landscape Capital Management L.L.C. bought a new stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,282 shares of the technology company's stock, valued at approximately $297,000.

Several other large investors have also recently made changes to their positions in VEEV. Leigh Baldwin & CO. LLC purchased a new position in shares of Veeva Systems during the fourth quarter worth approximately $685,355,000. Nuveen LLC purchased a new position in shares of Veeva Systems during the first quarter worth approximately $365,684,000. Price T Rowe Associates Inc. MD raised its stake in shares of Veeva Systems by 20.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,992,372 shares of the technology company's stock worth $924,754,000 after acquiring an additional 689,700 shares in the last quarter. Stockbridge Partners LLC purchased a new position in shares of Veeva Systems during the fourth quarter worth approximately $137,260,000. Finally, Linonia Partnership LP raised its stake in shares of Veeva Systems by 52.7% during the first quarter. Linonia Partnership LP now owns 1,836,557 shares of the technology company's stock worth $425,402,000 after acquiring an additional 633,585 shares in the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Veeva Systems

In related news, Director Timothy S. Cabral sold 315 shares of Veeva Systems stock in a transaction on Friday, June 6th. The shares were sold at an average price of $289.72, for a total value of $91,261.80. Following the sale, the director owned 5,500 shares in the company, valued at $1,593,460. The trade was a 5.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 completion of the sale, the senior vice president owned 7,902 shares in the company, valued at approximately $2,256,969.24. This trade represents a 8.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,378 shares of company stock worth $394,217 over the last quarter. Corporate insiders own 10.30% of the company's stock.

Analyst Upgrades and Downgrades

VEEV has been the topic of several research reports. Canaccord Genuity Group lifted their price target on shares of Veeva Systems from $270.00 to $300.00 and gave the stock a "hold" rating in a research note on Thursday, August 28th. Mizuho raised their target price on shares of Veeva Systems from $295.00 to $325.00 and gave the stock an "outperform" rating in a report on Friday, August 29th. Barclays raised their target price on shares of Veeva Systems from $300.00 to $325.00 and gave the stock an "overweight" rating in a report on Thursday, August 28th. Wall Street Zen upgraded shares of Veeva Systems from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Finally, Evercore ISI raised their target price on shares of Veeva Systems from $285.00 to $295.00 and gave the stock an "in-line" rating in a report on Thursday, August 28th. Sixteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $299.88.

Veeva Systems Price Performance

NYSE:VEEV traded up $0.97 during trading hours on Wednesday, hitting $270.95. The company had a trading volume of 1,316,256 shares, compared to its average volume of 1,269,295. The company has a market capitalization of $44.28 billion, a PE ratio of 55.64, a price-to-earnings-growth ratio of 2.12 and a beta of 0.95. The stock has a 50-day moving average price of $281.75 and a 200 day moving average price of $254.78. Veeva Systems Inc. has a 52 week low of $200.30 and a 52 week high of $296.72.

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.