Chicago Capital LLC Has $81.66 Million Stock Holdings in Veeva Systems Inc. $VEEV

Key Points

• Chicago Capital LLC reduced its stake in Veeva Systems Inc. by 0.5%, holding approximately $81.66 million worth of shares, making it the firm's 16th largest position.
• Insider transactions at Veeva include sales by SVP Jonathan Faddis and Director Priscilla Hung, with both experiencing ownership decreases of 8.35% and 3.99% respectively.
• Several analysts have upgraded their target prices for Veeva Systems, with the average price target now at $301.48 and a majority rating it as a "Moderate Buy."

Chicago Capital LLC decreased its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 0.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 283,552 shares of the technology company's stock after selling 1,444 shares during the period. Veeva Systems makes up about 2.0% of Chicago Capital LLC's portfolio, making the stock its 16th largest position. Chicago Capital LLC owned approximately 0.17% of Veeva Systems worth $81,657,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of VEEV. Abound Financial LLC acquired a new position in Veeva Systems during the first quarter worth $25,000. ORG Partners LLC acquired a new position in Veeva Systems during the first quarter worth $26,000. Golden State Wealth Management LLC raised its holdings in 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 buying an additional 78 shares during the last quarter. Wayfinding Financial LLC acquired a new position in Veeva Systems during the first quarter worth $32,000. Finally, Maseco LLP bought a new stake in shares of Veeva Systems in the 2nd quarter worth $35,000. Institutional investors and hedge funds own 88.20% of the company's stock.

Insider Transactions at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 720 shares of the 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 completion of the transaction, the senior vice president owned 7,902 shares in the company, valued at $2,256,969.24. This trade represents a 8.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Priscilla Hung sold 172 shares of the stock in a transaction dated Thursday, July 3rd. The stock was 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 $1,170,771. This represents a 3.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,063 shares of company stock valued at $302,955 in the last quarter. Company insiders own 10.30% of the company's stock.

Analyst Upgrades and Downgrades

VEEV has been the subject of several recent analyst reports. Stifel Nicolaus upped their target price on shares of Veeva Systems from $295.00 to $320.00 and gave the stock a "buy" rating in a research note on Thursday, August 28th. BTIG Research upped their target price on shares of Veeva Systems from $335.00 to $340.00 and gave the stock a "buy" rating in a research note on Thursday, August 28th. Truist Financial upped their target price on shares of Veeva Systems from $268.00 to $275.00 and gave the stock a "hold" rating in a research note on Thursday, August 28th. Mizuho upped their target price on shares of Veeva Systems from $295.00 to $325.00 and gave the stock an "outperform" rating in a research note on Friday, August 29th. Finally, Oppenheimer reiterated an "outperform" rating and issued a $325.00 target price on shares of Veeva Systems in a research note on Thursday, August 28th. Seventeen 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.com, Veeva Systems has an average rating of "Moderate Buy" and an average price target of $301.48.

Veeva Systems Stock Performance

VEEV opened at $293.15 on Tuesday. The firm has a market cap of $48.05 billion, a P/E ratio of 60.19, a PEG ratio of 2.24 and a beta of 0.95. The firm has a 50-day moving average of $280.99 and a 200 day moving average of $261.43. Veeva Systems Inc. has a fifty-two week low of $200.30 and a fifty-two week high of $296.72.

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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