Accurate Wealth Management LLC Acquires Shares of 3,276 Veeva Systems Inc. $VEEV

Key Points

• Accurate Wealth Management LLC has acquired 3,276 shares of Veeva Systems Inc. valued at approximately $923,000 during the second quarter.
• A number of research firms have raised their target prices for Veeva Systems, with Citigroup and Needham & Company setting new targets of $349.00 and $355.00 respectively, both maintaining "buy" ratings.
• Insider transactions revealed that Jonathan Faddis and Priscilla Hung sold shares recently, indicating a slight decrease in their ownership stakes.

Accurate Wealth Management LLC acquired a new stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,276 shares of the technology company's stock, valued at approximately $923,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Abound Financial LLC bought a new position in Veeva Systems in the 1st quarter valued at about $25,000. ORG Partners LLC acquired a new position in shares of Veeva Systems in the first quarter valued at approximately $26,000. Golden State Wealth Management LLC increased its stake in shares of Veeva Systems by 152.9% during the first quarter. Golden State Wealth Management LLC now owns 129 shares of the technology company's stock worth $30,000 after purchasing an additional 78 shares during the period. Wayfinding Financial LLC bought a new stake in Veeva Systems in the 1st quarter valued at $32,000. Finally, Maseco LLP acquired a new position in Veeva Systems in the 2nd quarter valued at $35,000. Institutional investors own 88.20% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on VEEV. Citigroup lifted their target price on Veeva Systems from $329.00 to $349.00 and gave the stock a "buy" rating in a report on Thursday, August 28th. Needham & Company LLC lifted their price objective on shares of Veeva Systems from $300.00 to $355.00 and gave the stock a "buy" rating in a research note on Thursday, August 28th. Morgan Stanley increased their target price on shares of Veeva Systems from $210.00 to $222.00 and gave the stock an "underweight" rating in a research report on Thursday, August 28th. Oppenheimer reaffirmed an "outperform" rating and set a $325.00 target price on shares of Veeva Systems in a report on Thursday, August 28th. Finally, UBS Group boosted their price target on Veeva Systems from $285.00 to $310.00 and gave the company a "neutral" rating in a research note on Thursday, August 28th. Seventeen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $301.48.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 720 shares of the business's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $285.62, for a total transaction of $205,646.40. Following the completion of the transaction, the senior vice president owned 7,902 shares of the company's stock, valued at approximately $2,256,969.24. The trade was a 8.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Priscilla Hung sold 171 shares of the stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $284.40, for a total transaction of $48,632.40. Following the completion of the transaction, the director directly owned 3,966 shares of the company's stock, valued at $1,127,930.40. This trade represents a 4.13% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,063 shares of company stock valued at $302,955. 10.30% of the stock is owned by corporate insiders.

Veeva Systems Price Performance

NYSE VEEV opened at $277.58 on Thursday. The business has a fifty day moving average price of $280.52 and a two-hundred day moving average price of $259.91. Veeva Systems Inc. has a fifty-two week low of $200.30 and a fifty-two week high of $296.72. The stock has a market capitalization of $45.50 billion, a PE ratio of 57.00, a PEG ratio of 2.16 and a beta of 0.95.

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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