Bath Savings Trust Co Boosts Position in Veeva Systems Inc. $VEEV

Key Points

• Bath Savings Trust Co increased its holdings in Veeva Systems by 23.0%, acquiring a total of 37,921 shares valued at approximately $10.9 million.
• Veeva Systems has a current market cap of $44.93 billion with a 52-week stock price range between $200.30 and $296.72.
• Analysts have generally positive sentiments towards Veeva, with several raising target prices; Barclays increased its price target from $300.00 to $325.00 and Needham and Company raised it from $300.00 to $355.00.

Bath Savings Trust Co boosted its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 23.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 37,921 shares of the technology company's stock after buying an additional 7,087 shares during the quarter. Veeva Systems accounts for about 1.1% of Bath Savings Trust Co's portfolio, making the stock its 28th largest holding. Bath Savings Trust Co's holdings in Veeva Systems were worth $10,920,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of VEEV. Quantinno Capital Management LP raised its position in Veeva Systems by 56.1% during the 4th quarter. Quantinno Capital Management LP now owns 8,356 shares of the technology company's stock worth $1,757,000 after buying an additional 3,004 shares during the last quarter. Rafferty Asset Management LLC raised its position in Veeva Systems by 21.1% during the 4th quarter. Rafferty Asset Management LLC now owns 9,348 shares of the technology company's stock worth $1,965,000 after buying an additional 1,627 shares during the last quarter. Vident Advisory LLC raised its position in Veeva Systems by 27.9% during the 4th quarter. Vident Advisory LLC now owns 2,752 shares of the technology company's stock worth $579,000 after buying an additional 601 shares during the last quarter. Woodline Partners LP purchased a new position in Veeva Systems during the 4th quarter worth approximately $16,940,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Veeva Systems by 22.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,214,146 shares of the technology company's stock worth $255,274,000 after buying an additional 225,629 shares during the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems Stock Up 0.1%

Shares of VEEV opened at $274.10 on Thursday. Veeva Systems Inc. has a 52-week low of $200.30 and a 52-week high of $296.72. The firm's fifty day moving average is $280.69 and its two-hundred day moving average is $258.17. The stock has a market cap of $44.93 billion, a PE ratio of 56.28, a price-to-earnings-growth ratio of 2.13 and a beta of 0.95.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Barclays lifted their target price on shares of Veeva Systems from $300.00 to $325.00 and gave the company an "overweight" rating in a report on Thursday, August 28th. Needham & Company LLC lifted their target price on shares of Veeva Systems from $300.00 to $355.00 and gave the company a "buy" rating in a report on Thursday, August 28th. KeyCorp lifted their target price 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. Truist Financial lifted their target price on shares of Veeva Systems from $268.00 to $275.00 and gave the company a "hold" rating in a report on Thursday, August 28th. Finally, BTIG Research lifted their target price on shares of Veeva Systems from $335.00 to $340.00 and gave the company a "buy" rating in a report on Thursday, August 28th. Seventeen 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. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $301.48.

Insider Activity

In other news, Director Priscilla Hung sold 172 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $1,170,771. The trade was a 3.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Jonathan Faddis sold 720 shares of the business'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 directly owned 7,902 shares in the company, valued at approximately $2,256,969.24. The trade was a 8.35% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,063 shares of company stock worth $302,955. Corporate insiders own 10.30% of the company's stock.

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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