901 Shares in Veeva Systems Inc. $VEEV Acquired by Northwest Wealth Management LLC

Key Points

• Northwest Wealth Management LLC acquired 901 shares of Veeva Systems Inc., valued at approximately $259,000, during the second quarter.
• A significant majority of the company's stock, about 88.20%, is owned by institutional investors and hedge funds.
• Analysts are optimistic about Veeva Systems, with a consensus rating of "Moderate Buy" and an average target price of $301.48 for the stock.

Northwest Wealth Management LLC bought a new stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 901 shares of the technology company's stock, valued at approximately $259,000.

A number of other large investors have also recently modified their holdings of the business. Sowell Financial Services LLC acquired a new stake in Veeva Systems in the first quarter valued at about $274,000. Crossmark Global Holdings Inc. acquired a new stake in shares of Veeva Systems in the 1st quarter valued at approximately $299,000. Janney Montgomery Scott LLC acquired a new stake in shares of Veeva Systems in the 1st quarter valued at approximately $5,876,000. GAMMA Investing LLC boosted its stake in shares of Veeva Systems by 13.8% in the 1st 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 in the last quarter. Finally, Private Trust Co. NA boosted its stake in shares of Veeva Systems by 35.0% in the 1st 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 in the last quarter. Institutional investors and hedge funds own 88.20% of the company's stock.

Insiders Place Their Bets

In related news, Director Priscilla Hung sold 172 shares of the business's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $283.00, for a total transaction of $48,676.00. Following the transaction, the director owned 4,137 shares in the company, valued at $1,170,771. The trade was a 3.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jonathan Faddis sold 720 shares of the company's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $285.62, for a total transaction of $205,646.40. Following the transaction, the senior vice president owned 7,902 shares in the company, valued at $2,256,969.24. This represents a 8.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,063 shares of company stock worth $302,955 in the last quarter. 10.30% of the stock is owned by corporate insiders.

Veeva Systems Stock Performance

Shares of VEEV opened at $293.15 on Tuesday. Veeva Systems Inc. has a 52-week low of $200.30 and a 52-week high of $296.72. The business's 50 day moving average price is $280.99 and its two-hundred day moving average price is $261.43. The firm has a market cap of $48.05 billion, a PE ratio of 60.19, a price-to-earnings-growth ratio of 2.24 and a beta of 0.95.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on VEEV shares. Oppenheimer restated an "outperform" rating and issued a $325.00 target price on shares of Veeva Systems in a research report on Thursday, August 28th. Truist Financial raised their price objective on Veeva Systems from $268.00 to $275.00 and gave the company a "hold" rating in a report on Thursday, August 28th. Piper Sandler raised their price objective on Veeva Systems from $325.00 to $355.00 and gave the company an "overweight" rating in a report on Thursday, August 28th. Evercore ISI raised their price objective on Veeva Systems from $285.00 to $295.00 and gave the company an "in-line" rating in a report on Thursday, August 28th. Finally, Barclays lifted their price target on Veeva Systems from $300.00 to $325.00 and gave the company an "overweight" rating in a research note on Thursday, August 28th. Seventeen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $301.48.

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.

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