Leigh Baldwin & CO. LLC Buys New Stake in Veeva Systems Inc. (NYSE:VEEV)

Leigh Baldwin & CO. LLC acquired a new stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 15,504 shares of the technology company's stock, valued at approximately $3,260,000. Veeva Systems makes up about 1.8% of Leigh Baldwin & CO. LLC's holdings, making the stock its 7th biggest position.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Mackenzie Financial Corp grew its stake in shares of Veeva Systems by 24.6% in the fourth quarter. Mackenzie Financial Corp now owns 32,742 shares of the technology company's stock worth $6,884,000 after acquiring an additional 6,467 shares in the last quarter. Forum Financial Management LP grew its stake in Veeva Systems by 75.9% during the 4th quarter. Forum Financial Management LP now owns 2,144 shares of the technology company's stock worth $451,000 after purchasing an additional 925 shares in the last quarter. Baer Investment Advisory LLC acquired a new position in Veeva Systems during the 4th quarter worth $3,119,000. Castlekeep Investment Advisors LLC purchased a new stake in Veeva Systems during the 4th quarter worth about $1,989,000. Finally, North Star Asset Management Inc. raised its position in Veeva Systems by 4.7% in the 4th quarter. North Star Asset Management Inc. now owns 114,108 shares of the technology company's stock valued at $23,991,000 after purchasing an additional 5,170 shares in the last quarter. Hedge funds and other institutional investors own 88.20% of the company's stock.

Insider Activity

In other news, insider Thomas D. Schwenger sold 1,200 shares of the stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $220.97, for a total value of $265,164.00. Following the completion of the transaction, the insider now owns 25,889 shares in the company, valued at $5,720,692.33. This trade represents a 4.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Jonathan Faddis sold 787 shares of Veeva Systems stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total transaction of $178,019.40. Following the sale, the senior vice president now owns 8,668 shares of the company's stock, valued at approximately $1,960,701.60. The trade was a 8.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,869 shares of company stock valued at $1,284,917 over the last quarter. Corporate insiders own 10.30% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on VEEV. Stephens restated an "overweight" rating and set a $280.00 target price on shares of Veeva Systems in a research note on Thursday, March 6th. Wall Street Zen upgraded shares of Veeva Systems from a "hold" rating to a "buy" rating in a report on Monday, February 17th. Truist Financial boosted their target price on shares of Veeva Systems from $210.00 to $217.00 and gave the stock a "hold" rating in a research note on Thursday, March 6th. Needham & Company LLC reissued a "buy" rating and issued a $270.00 target price on shares of Veeva Systems in a report on Thursday, March 6th. Finally, Piper Sandler cut their price target on Veeva Systems from $290.00 to $255.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Veeva Systems presently has an average rating of "Moderate Buy" and an average target price of $254.92.

Veeva Systems Stock Down 1.1%

VEEV traded down $2.69 on Wednesday, hitting $235.37. 2,193,241 shares of the company traded hands, compared to its average volume of 1,120,842. Veeva Systems Inc. has a 12-month low of $170.25 and a 12-month high of $275.06. The company has a 50 day moving average of $228.92 and a 200-day moving average of $227.22. The stock has a market capitalization of $38.29 billion, a PE ratio of 58.12, a PEG ratio of 1.89 and a beta of 0.96.

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.