Nomura Holdings Inc. Invests $645,000 in Veeva Systems Inc. $VEEV

Key Points

• Nomura Holdings Inc. has acquired a new stake in Veeva Systems Inc., purchasing 2,785 shares valued at approximately $645,000.
• Analysts have upgraded Veeva Systems' stock, with a consensus rating of "Moderate Buy" and target price around $299.88.
• Insider transactions included the sale of shares by senior vice president Jonathan Faddis and director Priscilla Hung, reflecting decreases in their respective positions.

Nomura Holdings Inc. bought a new stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,785 shares of the technology company's stock, valued at approximately $645,000.

Several other institutional investors have also modified their holdings of the stock. Sowell Financial Services LLC purchased a new stake in shares of Veeva Systems in the first quarter valued at about $274,000. Crossmark Global Holdings Inc. purchased a new position in Veeva Systems during the first quarter worth about $299,000. Janney Montgomery Scott LLC acquired a new position in Veeva Systems in the 1st quarter valued at about $5,876,000. GAMMA Investing LLC grew its stake in shares of Veeva Systems by 13.8% in the 1st quarter. GAMMA Investing LLC now owns 1,823 shares of the technology company's stock valued at $422,000 after buying an additional 221 shares during the period. Finally, Private Trust Co. NA increased its holdings in shares of Veeva Systems by 35.0% during the 1st quarter. Private Trust Co. NA now owns 247 shares of the technology company's stock worth $57,000 after buying an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 88.20% of the company's stock.

Veeva Systems Stock Up 1.1%

NYSE:VEEV traded up $3.06 on Friday, reaching $273.12. 1,438,211 shares of the company's stock were exchanged, compared to its average volume of 1,318,675. The firm has a market capitalization of $44.63 billion, a price-to-earnings ratio of 56.08, a price-to-earnings-growth ratio of 2.12 and a beta of 0.95. Veeva Systems Inc. has a 52-week low of $200.30 and a 52-week high of $296.72. The business has a fifty day moving average of $281.33 and a 200-day moving average of $255.48.

Wall Street Analysts Forecast Growth

VEEV has been the topic of a number of recent analyst reports. Truist Financial upped their price objective on Veeva Systems from $268.00 to $275.00 and gave the company a "hold" rating in a report on Thursday, August 28th. BTIG Research upped their price target on Veeva Systems from $335.00 to $340.00 and gave the company a "buy" rating in a research note on Thursday, August 28th. Barclays increased their price target on Veeva Systems from $300.00 to $325.00 and gave the stock an "overweight" rating in a report on Thursday, August 28th. Oppenheimer restated an "outperform" rating and issued a $325.00 price objective on shares of Veeva Systems in a report on Thursday, August 28th. Finally, Wall Street Zen raised shares of Veeva Systems from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. Sixteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $299.88.

Insider Buying and Selling

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 sale, the senior vice president directly owned 7,902 shares in the company, valued at $2,256,969.24. This represents a 8.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Priscilla Hung sold 171 shares of the business's stock in a transaction 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 completion of the transaction, the director 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,063 shares of company stock worth $302,955. 10.30% of the stock is owned by company insiders.

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.