Precision Wealth Strategies LLC acquired a new stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 2,124 shares of the technology company's stock, valued at approximately $612,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Abound Financial LLC acquired a new position in shares of Veeva Systems during the 1st quarter worth approximately $25,000. ORG Partners LLC bought a new position in shares of Veeva Systems in the first quarter valued at $26,000. Golden State Wealth Management LLC increased its holdings in Veeva Systems by 152.9% during the first quarter. Golden State Wealth Management LLC now owns 129 shares of the technology company's stock worth $30,000 after buying an additional 78 shares during the last quarter. Wayfinding Financial LLC bought a new stake in Veeva Systems during the first quarter worth $32,000. Finally, Maseco LLP acquired a new stake in Veeva Systems in the second quarter valued at $35,000. Institutional investors and hedge funds own 88.20% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on VEEV. Wells Fargo & Company boosted their price objective on shares of Veeva Systems from $300.00 to $326.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 26th. Stifel Nicolaus upped their price objective on Veeva Systems from $295.00 to $320.00 and gave the company a "buy" rating in a research note on Thursday, August 28th. KeyCorp raised their price objective on Veeva Systems from $285.00 to $325.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. BTIG Research boosted their target price on Veeva Systems from $335.00 to $340.00 and gave the stock a "buy" rating in a report on Thursday, August 28th. Finally, Needham & Company LLC increased their price target on Veeva Systems from $300.00 to $355.00 and gave the company a "buy" rating in a research note on Thursday, August 28th. Sixteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, Veeva Systems presently has a consensus rating of "Moderate Buy" and a consensus target price of $303.67.
Read Our Latest Stock Report on Veeva Systems
Insider Transactions at Veeva Systems
In related news, SVP Jonathan Faddis sold 720 shares of the company's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $285.62, for a total value of $205,646.40. Following the transaction, the senior vice president directly owned 7,902 shares in the company, valued at approximately $2,256,969.24. This represents a 8.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction, the director directly owned 3,966 shares in the company, valued at approximately $1,127,930.40. This represents a 4.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 10.30% of the company's stock.
Veeva Systems Price Performance
VEEV opened at $293.44 on Thursday. The business has a fifty day simple moving average of $281.39 and a 200 day simple moving average of $261.90. Veeva Systems Inc. has a 1 year low of $200.30 and a 1 year high of $299.95. The company has a market capitalization of $48.10 billion, a PE ratio of 60.26, a price-to-earnings-growth ratio of 2.30 and a beta of 0.98.
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.
Further Reading
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