4D Advisors LLC Has $5.79 Million Position in Veeva Systems Inc. $VEEV

Key Points

• 4D Advisors LLC increased its stake in Veeva Systems by 25%, owning 25,000 shares valued at approximately $5.79 million, making it the firm's 5th largest holding.
• Veeva Systems' stock has experienced a 1.3% decline, and its analysts have mixed ratings with a consensus price target set at $299.88.
• Numerous institutional investors have recently adjusted their positions in Veeva Systems, indicating a strong interest in the company, with institutional ownership now at about 88.20%.

4D Advisors LLC lifted its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 25.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,000 shares of the technology company's stock after buying an additional 5,000 shares during the quarter. Veeva Systems comprises approximately 4.5% of 4D Advisors LLC's investment portfolio, making the stock its 5th biggest holding. 4D Advisors LLC's holdings in Veeva Systems were worth $5,791,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Sowell Financial Services LLC acquired a new position in Veeva Systems during the first quarter valued at approximately $274,000. Crossmark Global Holdings Inc. acquired a new position in Veeva Systems during the first quarter valued at approximately $299,000. Janney Montgomery Scott LLC acquired a new position in Veeva Systems during the first quarter valued at approximately $5,876,000. GAMMA Investing LLC grew its holdings in 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 purchasing an additional 221 shares during the period. Finally, Private Trust Co. NA grew its holdings in 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 purchasing an additional 64 shares during the period. Institutional investors and hedge funds own 88.20% of the company's stock.

Veeva Systems Stock Down 1.3%

Veeva Systems stock opened at $268.85 on Tuesday. The stock has a market capitalization of $43.93 billion, a PE ratio of 55.21, a price-to-earnings-growth ratio of 2.12 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 moving average of $282.16 and a 200-day moving average of $254.56.

Wall Street Analyst Weigh In

VEEV has been the subject of a number of analyst reports. Stifel Nicolaus boosted their price objective on shares of Veeva Systems from $295.00 to $320.00 and gave the company a "buy" rating in a report on Thursday, August 28th. JPMorgan Chase & Co. boosted their price objective on shares of Veeva Systems from $274.00 to $290.00 and gave the company a "neutral" rating in a report on Thursday, August 28th. KeyCorp boosted their price objective on shares of Veeva Systems from $285.00 to $325.00 and gave the company an "overweight" rating in a report on Monday, July 14th. Wall Street Zen upgraded shares of Veeva Systems from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Finally, Citigroup upped their price target on shares of Veeva Systems from $329.00 to $349.00 and gave the company a "buy" rating in a report on Thursday, August 28th. Sixteen equities 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 company. Based on data from MarketBeat, Veeva Systems currently has a consensus rating of "Moderate Buy" and a consensus price target of $299.88.

Insider Transactions at Veeva Systems

In other news, Director Priscilla Hung sold 171 shares of the business's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $284.40, for a total value of $48,632.40. Following the sale, the director owned 3,966 shares of the company's stock, valued at $1,127,930.40. The trade was a 4.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Timothy S. Cabral sold 315 shares of the business's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $289.72, for a total transaction of $91,261.80. Following the completion of the sale, the director directly owned 5,500 shares in the company, valued at approximately $1,593,460. This represents a 5.42% 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 valued at $394,217 over the last 90 days. 10.30% of the stock is owned by corporate insiders.

Veeva Systems 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.

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