Jump Financial LLC Acquires Shares of 2,562 Veeva Systems Inc. $VEEV

Key Points

• Jump Financial LLC has acquired 2,562 shares of Veeva Systems Inc., valued at approximately $593,000, signaling institutional interest in the company's stock.
• Several institutional investors have increased their stakes in Veeva Systems, with hedge funds collectively owning 88.20% of the company's stock.
• Analysts have upgraded Veeva Systems' stock ratings and target prices, indicating a positive outlook, with sixteen analysts rating it as a Buy.

Jump Financial LLC acquired a new stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,562 shares of the technology company's stock, valued at approximately $593,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. TFB Advisors LLC lifted its holdings in 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 purchasing an additional 44 shares in the last quarter. Marks Group Wealth Management Inc lifted its holdings in 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 purchasing an additional 46 shares in the last quarter. Colonial Trust Co SC lifted its holdings in Veeva Systems by 30.3% in the 4th quarter. Colonial Trust Co SC now owns 241 shares of the technology company's stock valued at $51,000 after purchasing an additional 56 shares in the last quarter. Harbour Investments Inc. lifted its holdings in 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 purchasing an additional 56 shares in the last quarter. Finally, CoreCap Advisors LLC increased its stake in shares of Veeva Systems by 31.7% in the 4th quarter. CoreCap Advisors LLC now owns 249 shares of the technology company's stock worth $52,000 after acquiring an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 88.20% of the company's stock.

Insider Buying and Selling

In related news, Director Priscilla Hung sold 171 shares of the firm's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $284.40, for a total transaction of $48,632.40. Following the completion of the sale, the director directly owned 3,966 shares of the company's stock, valued at approximately $1,127,930.40. This trade represents a 4.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Timothy S. Cabral sold 315 shares of the firm's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $289.72, for a total value of $91,261.80. Following the sale, the director directly owned 5,500 shares of the company's stock, valued at $1,593,460. The trade was a 5.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,378 shares of company stock valued at $394,217. 10.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on VEEV shares. Piper Sandler raised their target price on Veeva Systems from $325.00 to $355.00 and gave the stock an "overweight" rating in a research note on Thursday. BTIG Research raised their target price on Veeva Systems from $335.00 to $340.00 and gave the stock a "buy" rating in a research note on Thursday. Raymond James Financial reaffirmed an "outperform" rating and issued a $340.00 target price (up from $310.00) on shares of Veeva Systems in a research note on Thursday. Oppenheimer reaffirmed an "outperform" rating and issued a $325.00 target price on shares of Veeva Systems in a research note on Thursday. Finally, KeyCorp raised their target price on Veeva Systems from $285.00 to $325.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. Sixteen 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. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $299.88.

Veeva Systems Trading Down 1.3%

Shares of NYSE:VEEV opened at $268.85 on Monday. The business has a 50-day moving average price of $282.38 and a 200 day moving average price of $254.32. The company has a market capitalization of $43.93 billion, a price-to-earnings ratio of 55.21, a PEG ratio of 2.12 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.

Veeva Systems Company 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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