Federation des caisses Desjardins du Quebec Purchases 1,496 Shares of Veeva Systems Inc. $VEEV

Key Points

• The Federation des caisses Desjardins du Quebec increased its holdings in Veeva Systems Inc. by 11.4%, acquiring an additional 1,496 shares to reach a total of 14,641 shares worth approximately $3.39 million.
• Multiple institutional investors have also recently invested in Veeva Systems, with 88.20% of the company's stock now owned by such investors, indicating strong institutional interest.
• Following recent analyst reports, Veeva's stock has been rated with a consensus of "Moderate Buy" and a revised average price target of $299.88, reflecting optimism about the company's future performance.

Federation des caisses Desjardins du Quebec boosted its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 11.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,641 shares of the technology company's stock after purchasing an additional 1,496 shares during the period. Federation des caisses Desjardins du Quebec's holdings in Veeva Systems were worth $3,391,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Abound Financial LLC acquired a new position in shares of Veeva Systems during the 1st quarter worth $25,000. ORG Partners LLC bought a new position in Veeva Systems in the first quarter valued at about $26,000. Golden State Wealth Management LLC raised its stake 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 acquiring an additional 78 shares in the last quarter. Wayfinding Financial LLC acquired a new position in Veeva Systems during the first quarter worth about $32,000. Finally, Key Financial Inc lifted its holdings in shares of Veeva Systems by 161.0% in the first quarter. Key Financial Inc now owns 154 shares of the technology company's stock worth $36,000 after acquiring an additional 95 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company's stock.

Insider Activity

In other Veeva Systems news, SVP Jonathan Faddis sold 720 shares of the stock in a transaction that occurred on 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 sale, the senior vice president owned 7,902 shares of the company's stock, valued at approximately $2,256,969.24. This represents a 8.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Priscilla Hung sold 171 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $284.40, for a total transaction of $48,632.40. Following the transaction, the director owned 3,966 shares of the company's stock, valued at approximately $1,127,930.40. The trade was a 4.13% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,063 shares of company stock valued at $302,955. Insiders own 10.30% of the company's stock.

Veeva Systems Stock Up 1.1%

Shares of NYSE:VEEV opened at $273.12 on Friday. The firm has a market cap of $44.63 billion, a P/E ratio of 56.08, a P/E/G ratio of 2.10 and a beta of 0.95. Veeva Systems Inc. has a 12-month low of $200.30 and a 12-month high of $296.72. The business has a fifty day simple moving average of $281.33 and a 200 day simple moving average of $255.30.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on VEEV shares. Barclays upped their price objective on shares of Veeva Systems from $300.00 to $325.00 and gave the stock an "overweight" rating in a research report on Thursday, August 28th. JPMorgan Chase & Co. upped their price target on shares of Veeva Systems from $274.00 to $290.00 and gave the stock a "neutral" rating in a report on Thursday, August 28th. Citigroup raised their price objective on Veeva Systems from $329.00 to $349.00 and gave the company a "buy" rating in a report on Thursday, August 28th. Truist Financial boosted their price objective on Veeva Systems from $268.00 to $275.00 and gave the stock a "hold" rating in a research report on Thursday, August 28th. Finally, Evercore ISI increased their target price on Veeva Systems from $285.00 to $295.00 and gave the company an "in-line" rating in a research report on Thursday, August 28th. Sixteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $299.88.

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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