Quarry LP Has $125,000 Holdings in Veeva Systems Inc. $VEEV

Key Points

• Quarry LP has reduced its stake in Veeva Systems Inc. by 70.9% to 540 shares after selling 1,317 shares, with its holdings valued at approximately $125,000 as of the latest reporting period.
• Veeva Systems has seen significant interest from institutional investors, with 88.20% of the stock owned by them, and several firms adjusting their price targets for the stock, with the consensus target set at $299.88.
• Insider trading activity includes Director Timothy S. Cabral selling 315 shares, alongside Senior VP Jonathan Faddis selling 720 shares, indicating a trend of insider sales in the company.

Quarry LP trimmed its holdings in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 70.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 540 shares of the technology company's stock after selling 1,317 shares during the period. Quarry LP's holdings in Veeva Systems were worth $125,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. TFB Advisors LLC grew its position in Veeva Systems by 1.2% in the first quarter. TFB Advisors LLC now owns 3,586 shares of the technology company's stock worth $831,000 after acquiring an additional 44 shares in the last quarter. Marks Group Wealth Management Inc boosted its holdings in shares of Veeva Systems by 3.3% during the 1st quarter. Marks Group Wealth Management Inc now owns 1,427 shares of the technology company's stock worth $331,000 after buying an additional 46 shares during the period. Colonial Trust Co SC boosted its holdings in shares of Veeva Systems by 30.3% during the 4th quarter. Colonial Trust Co SC now owns 241 shares of the technology company's stock worth $51,000 after buying an additional 56 shares during the period. Harbour Investments Inc. boosted its holdings in shares of Veeva Systems by 7.6% during the 1st quarter. Harbour Investments Inc. now owns 789 shares of the technology company's stock worth $183,000 after buying an additional 56 shares during the period. Finally, CoreCap Advisors LLC boosted its holdings in shares of Veeva Systems by 31.7% during the 4th quarter. CoreCap Advisors LLC now owns 249 shares of the technology company's stock worth $52,000 after buying an additional 60 shares during the period. 88.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. KeyCorp upped their price objective on shares of Veeva Systems from $285.00 to $325.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Wall Street Zen raised shares of Veeva Systems from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Stifel Nicolaus upped their price objective on shares of Veeva Systems from $295.00 to $320.00 and gave the stock a "buy" rating in a report on Thursday, August 28th. Mizuho upped their price objective on shares of Veeva Systems from $295.00 to $325.00 and gave the stock an "outperform" rating in a report on Friday, August 29th. Finally, Citigroup upped their price objective on shares of Veeva Systems from $329.00 to $349.00 and gave the stock a "buy" rating in a report on Thursday, August 28th. Sixteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Veeva Systems currently has an average rating of "Moderate Buy" and a consensus target price of $299.88.

Veeva Systems Stock Up 1.1%

VEEV traded up $3.06 during midday trading 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 one year low of $200.30 and a one year high of $296.72. The business has a 50-day simple moving average of $281.33 and a two-hundred day simple moving average of $255.48.

Insider Transactions at Veeva Systems

In related news, SVP Jonathan Faddis sold 720 shares of the stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $285.62, for a total transaction of $205,646.40. Following the completion of the sale, the senior vice president owned 7,902 shares in the company, valued at $2,256,969.24. This trade represents a 8.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Priscilla Hung sold 171 shares of the 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 sale, the director owned 3,966 shares of the company's stock, valued at $1,127,930.40. This trade represents a 4.13% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,063 shares of company stock valued at $302,955 in the last quarter. 10.30% of the stock is currently owned by corporate insiders.

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.