Baer Investment Advisory LLC Invests $3.12 Million in Veeva Systems Inc. (NYSE:VEEV)

Baer Investment Advisory LLC acquired a new stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 14,836 shares of the technology company's stock, valued at approximately $3,119,000. Veeva Systems comprises about 6.5% of Baer Investment Advisory LLC's portfolio, making the stock its 6th largest position.

A number of other hedge funds also recently bought and sold shares of VEEV. MassMutual Private Wealth & Trust FSB increased its holdings 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 buying an additional 50 shares during the last quarter. Centricity Wealth Management LLC acquired a new stake in shares of Veeva Systems during the 4th quarter worth approximately $25,000. Smithfield Trust Co increased its holdings in shares of Veeva Systems by 145.5% during the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company's stock worth $27,000 after buying an additional 80 shares during the last quarter. Avion Wealth increased its holdings in shares of Veeva Systems by 635.0% during the 4th quarter. Avion Wealth now owns 147 shares of the technology company's stock worth $30,000 after buying an additional 127 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its holdings in shares of Veeva Systems by 2,716.7% during the 4th quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company's stock worth $36,000 after buying an additional 163 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company's stock.

Wall Street Analysts Forecast Growth

VEEV has been the subject of several research reports. Morgan Stanley lifted their target price on shares of Veeva Systems from $195.00 to $201.00 and gave the company an "underweight" rating in a report on Thursday, March 6th. Scotiabank lifted their target price on shares of Veeva Systems from $240.00 to $245.00 and gave the company a "sector perform" rating in a report on Thursday, March 6th. JPMorgan Chase & Co. lifted their target price on shares of Veeva Systems from $218.00 to $249.00 and gave the company a "neutral" rating in a report on Thursday, March 20th. KeyCorp cut their target price on shares of Veeva Systems from $260.00 to $250.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Finally, Robert W. Baird increased their target price 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. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $254.92.

Insider Transactions at Veeva Systems

In other news, insider Thomas D. Schwenger sold 1,200 shares of the firm's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $220.97, for a total value of $265,164.00. Following the transaction, the insider now directly owns 25,889 shares in the company, valued at approximately $5,720,692.33. This trade represents a 4.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Timothy S. Cabral sold 3,882 shares of Veeva Systems stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $216.83, for a total transaction of $841,734.06. Following the completion of the sale, the director now owns 5,500 shares in the company, valued at approximately $1,192,565. This represents a 41.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,869 shares of company stock worth $1,284,917. 10.30% of the stock is currently owned by insiders.

Veeva Systems Stock Performance

Shares of Veeva Systems stock traded up $5.14 during trading hours on Tuesday, reaching $238.14. The company's stock had a trading volume of 1,313,976 shares, compared to its average volume of 1,115,288. The company's 50 day simple moving average is $228.88 and its 200 day simple moving average is $227.14. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93. The stock has a market cap of $38.74 billion, a P/E ratio of 58.80, a price-to-earnings-growth ratio of 1.89 and a beta of 0.96.

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.