Sivia Capital Partners LLC Has $899,000 Stock Position in Veeva Systems Inc. $VEEV

Key Points

• Sivia Capital Partners LLC increased its stake in Veeva Systems Inc. by 225.9% during the second quarter, now holding stock worth $899,000.
• Seventeen analysts rated Veeva Systems with a Buy rating, with price targets raised, including KeyCorp and Barclays which increased their targets to $325.00.
• Shares of Veeva Systems are currently trading at $274.15, down 0.8%, with a market cap of $44.94 billion and a recent 12-month high of $296.72.

Sivia Capital Partners LLC lifted its stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 225.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,122 shares of the technology company's stock after acquiring an additional 2,164 shares during the quarter. Sivia Capital Partners LLC's holdings in Veeva Systems were worth $899,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of VEEV. Abound Financial LLC acquired a new stake in shares of Veeva Systems in the first quarter valued at about $25,000. ORG Partners LLC acquired a new position in Veeva Systems during the first quarter worth approximately $26,000. Golden State Wealth Management LLC increased its position 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 acquired a new position in Veeva Systems during the first quarter worth approximately $32,000. Finally, Key Financial Inc increased its position in Veeva Systems by 161.0% during the first quarter. Key Financial Inc now owns 154 shares of the technology company's stock worth $36,000 after buying an additional 95 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on VEEV shares. KeyCorp boosted their price target on Veeva Systems from $285.00 to $325.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Barclays boosted their price target on Veeva Systems from $300.00 to $325.00 and gave the stock an "overweight" rating in a research report on Thursday, August 28th. Stifel Nicolaus boosted their price target on Veeva Systems from $295.00 to $320.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. Evercore ISI boosted their price target on Veeva Systems from $285.00 to $295.00 and gave the stock an "in-line" rating in a research report on Thursday, August 28th. Finally, Canaccord Genuity Group boosted their price target on Veeva Systems from $270.00 to $300.00 and gave the stock a "hold" rating in a research report on Thursday, August 28th. Seventeen research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $301.48.

Insider Activity at Veeva Systems

In related news, SVP Jonathan Faddis sold 720 shares of the stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $285.62, for a total transaction of $205,646.40. Following the sale, the senior vice president owned 7,902 shares of the company's stock, valued at $2,256,969.24. This represents a 8.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Priscilla Hung sold 171 shares of the stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $284.40, for a total value of $48,632.40. Following the sale, the director directly owned 3,966 shares in the company, valued at $1,127,930.40. This represents a 4.13% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,063 shares of company stock valued at $302,955. 10.30% of the stock is currently owned by corporate insiders.

Veeva Systems Stock Down 0.8%

Shares of NYSE:VEEV opened at $274.15 on Wednesday. Veeva Systems Inc. has a 12-month low of $200.30 and a 12-month high of $296.72. The stock has a market cap of $44.94 billion, a PE ratio of 56.29, a P/E/G ratio of 2.15 and a beta of 0.95. The business has a 50 day moving average of $280.89 and a 200-day moving average of $258.06.

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.

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