CreativeOne Wealth LLC Invests $255,000 in Veeva Systems Inc. $VEEV

Key Points

• CreativeOne Wealth LLC has invested $255,000 in Veeva Systems Inc., acquiring 1,101 shares as part of their 1st quarter investments.
• Veeva Systems currently has a market cap of $44.08 billion with a price-to-earnings ratio of 55.39, reflecting significant investor interest, particularly from institutional investors owning 88.20% of shares.
• Recent analyst upgrades suggest bullish sentiment on Veeva's stock, with several firms raising their price targets to between $326.00 and $355.00 and rating it as "overweight" or "buy."

CreativeOne Wealth LLC purchased a new position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,101 shares of the technology company's stock, valued at approximately $255,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Abound Financial LLC acquired a new position in Veeva Systems during the 1st quarter worth approximately $25,000. ORG Partners LLC acquired a new position in Veeva Systems during the 1st quarter worth approximately $26,000. Golden State Wealth Management LLC increased its position in Veeva Systems by 152.9% during the 1st 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 acquired a new position in Veeva Systems during the 1st quarter worth approximately $32,000. Finally, Key Financial Inc boosted its stake in shares of Veeva Systems by 161.0% during the 1st quarter. Key Financial Inc now owns 154 shares of the technology company's stock worth $36,000 after acquiring an additional 95 shares in the last quarter. Hedge funds and other institutional investors own 88.20% of the company's stock.

Veeva Systems Price Performance

VEEV traded up $3.06 during trading on Friday, hitting $273.12. The company's stock had a trading volume of 1,438,211 shares, compared to its average volume of 1,318,675. The firm's 50 day moving average price is $281.33 and its 200-day moving average price is $255.48. The stock has a market cap of $44.63 billion, a PE ratio of 56.08, a PEG ratio of 2.12 and a beta of 0.95. Veeva Systems Inc. has a twelve month low of $200.30 and a twelve month high of $296.72.

Insider Transactions at Veeva Systems

In other Veeva Systems news, 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 value of $205,646.40. Following the completion of the transaction, the senior vice president directly owned 7,902 shares of the company's stock, valued at $2,256,969.24. This represents a 8.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 directly owned 4,137 shares in the company, valued at $1,170,771. The trade was a 3.99% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,063 shares of company stock valued at $302,955. 10.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

VEEV has been the topic of several research analyst reports. Piper Sandler boosted their price target on Veeva Systems from $325.00 to $355.00 and gave the stock an "overweight" rating in a research note on Thursday, August 28th. Stifel Nicolaus boosted their price target on Veeva Systems from $295.00 to $320.00 and gave the stock a "buy" rating in a research note on Thursday, August 28th. Evercore ISI boosted their price target on Veeva Systems from $285.00 to $295.00 and gave the stock an "in-line" rating in a research note on Thursday, August 28th. JPMorgan Chase & Co. boosted their price target on Veeva Systems from $274.00 to $290.00 and gave the stock a "neutral" rating in a research note on Thursday, August 28th. Finally, Wall Street Zen raised Veeva Systems from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Sixteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $299.88.

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.