PharVision Advisers LLC bought a new stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,247 shares of the technology company's stock, valued at approximately $472,000.
Other institutional investors have also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Veeva Systems by 22.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,214,146 shares of the technology company's stock valued at $255,274,000 after purchasing an additional 225,629 shares during the period. Woodline Partners LP purchased a new stake in Veeva Systems in the 4th quarter valued at about $16,940,000. Vident Advisory LLC increased its stake in shares of Veeva Systems by 27.9% during the 4th quarter. Vident Advisory LLC now owns 2,752 shares of the technology company's stock valued at $579,000 after acquiring an additional 601 shares during the last quarter. Sone Capital Management LLC acquired a new position in shares of Veeva Systems during the 4th quarter valued at about $3,654,000. Finally, Sphera Management Technology Funds Ltd purchased a new position in shares of Veeva Systems during the 4th quarter worth about $631,000. Institutional investors and hedge funds own 88.20% of the company's stock.
Veeva Systems Price Performance
Shares of NYSE:VEEV traded down $2.12 during midday trading on Monday, reaching $233.41. The company had a trading volume of 858,455 shares, compared to its average volume of 1,114,486. The stock has a market capitalization of $37.97 billion, a P/E ratio of 57.63, a PEG ratio of 1.89 and a beta of 0.96. The stock's fifty day moving average price is $228.95 and its 200-day moving average price is $227.15. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93.
Insiders Place Their Bets
In other Veeva Systems news, Director Timothy S. Cabral sold 3,882 shares of the company's stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $216.83, for a total transaction of $841,734.06. Following the sale, the director now owns 5,500 shares in the company, valued at $1,192,565. This represents a 41.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Thomas D. Schwenger sold 1,200 shares of the business's stock in a transaction that occurred on 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 sale, the insider now owns 25,889 shares of the company's stock, valued at $5,720,692.33. This trade represents a 4.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,869 shares of company stock valued at $1,284,917 in the last ninety days. Corporate insiders own 10.30% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on the stock. Needham & Company LLC restated a "buy" rating and issued a $270.00 target price on shares of Veeva Systems in a report on Thursday, March 6th. KeyCorp lowered their price objective on shares of Veeva Systems from $260.00 to $250.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Scotiabank upped their price objective on Veeva Systems from $240.00 to $245.00 and gave the stock a "sector perform" rating in a report on Thursday, March 6th. Robert W. Baird lifted their target price on Veeva Systems from $283.00 to $285.00 and gave the company an "outperform" rating in a report on Thursday, March 6th. Finally, Wall Street Zen raised Veeva Systems from a "hold" rating to a "buy" rating in a research report on Monday, February 17th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $254.92.
Read Our Latest Research Report on VEEV
About Veeva Systems
(
Free Report)
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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