Impact Investors Inc Purchases New Position in Veeva Systems Inc. $VEEV

Key Points

• Impact Investors Inc acquired a new stake in Veeva Systems Inc., purchasing 900 shares valued at approximately $259,000 during the second quarter.
• Key institutional investors have been actively adjusting their positions in Veeva Systems, with institutions now holding 88.20% of the company's stock.
• Veeva Systems stock is currently rated as a "Moderate Buy" by analysts, with an average price target of $303.67, following several upgrades from major research firms.

Impact Investors Inc purchased a new stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 900 shares of the technology company's stock, valued at approximately $259,000.

A number of other institutional investors have also recently made changes to their positions in the business. TFB Advisors LLC lifted its holdings in shares of Veeva Systems by 1.2% in the 1st quarter. TFB Advisors LLC now owns 3,586 shares of the technology company's stock valued at $831,000 after acquiring an additional 44 shares during the last quarter. Triangle Securities Wealth Management lifted its holdings in shares of Veeva Systems by 0.8% in the 2nd quarter. Triangle Securities Wealth Management now owns 5,782 shares of the technology company's stock valued at $1,665,000 after acquiring an additional 45 shares during the last quarter. Marks Group Wealth Management Inc lifted its holdings in shares of Veeva Systems by 3.3% in the 1st quarter. Marks Group Wealth Management Inc now owns 1,427 shares of the technology company's stock valued at $331,000 after acquiring an additional 46 shares during the last quarter. Harbour Investments Inc. lifted its holdings in shares of Veeva Systems by 7.6% in the 1st quarter. Harbour Investments Inc. now owns 789 shares of the technology company's stock valued at $183,000 after acquiring an additional 56 shares during the last quarter. Finally, Parallel Advisors LLC lifted its holdings in shares of Veeva Systems by 4.7% in the 2nd quarter. Parallel Advisors LLC now owns 1,236 shares of the technology company's stock valued at $356,000 after acquiring an additional 56 shares during the last quarter. Institutional investors own 88.20% of the company's stock.

Insider Buying and Selling at Veeva Systems

In other news, insider Thomas D. Schwenger sold 3,350 shares of Veeva Systems stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $300.04, for a total transaction of $1,005,134.00. Following the completion of the sale, the insider directly owned 23,773 shares in the company, valued at approximately $7,132,850.92. The trade was a 12.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Jonathan Faddis sold 14,595 shares of Veeva Systems stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $300.00, for a total transaction of $4,378,500.00. Following the sale, the senior vice president owned 8,588 shares of the company's stock, valued at $2,576,400. The trade was a 62.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,836 shares of company stock worth $5,637,913 over the last three months. Corporate insiders own 10.30% of the company's stock.

Veeva Systems Stock Down 1.4%

Shares of VEEV opened at $296.47 on Friday. The company has a market cap of $48.60 billion, a price-to-earnings ratio of 60.88, a price-to-earnings-growth ratio of 2.32 and a beta of 0.98. Veeva Systems Inc. has a twelve month low of $200.30 and a twelve month high of $302.00. The company has a 50 day moving average of $281.68 and a two-hundred day moving average of $262.76.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on VEEV. Wells Fargo & Company increased their price objective on shares of Veeva Systems from $300.00 to $326.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 26th. JPMorgan Chase & Co. raised shares of Veeva Systems from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $290.00 to $330.00 in a research report on Monday, September 8th. Wall Street Zen lowered shares of Veeva Systems from a "buy" rating to a "hold" rating in a research report on Friday. Stifel Nicolaus raised their target price on shares of Veeva Systems from $295.00 to $320.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. Finally, UBS Group raised their target price on shares of Veeva Systems from $285.00 to $310.00 and gave the stock a "neutral" rating in a research report on Thursday, August 28th. Sixteen equities research 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. According to data from MarketBeat, Veeva Systems currently has an average rating of "Moderate Buy" and an average price target of $303.67.

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.

Want to see what other hedge funds are holding VEEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Veeva Systems Inc. (NYSE:VEEV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.