Square Wave Partners L.P. Takes Position in Veeva Systems Inc. (NYSE:VEEV)

Square Wave Partners L.P. purchased 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 purchased 68,802 shares of the technology company's stock, valued at approximately $14,466,000. Veeva Systems accounts for 13.9% of Square Wave Partners L.P.'s holdings, making the stock its 3rd largest position.

A number of other large investors have also made changes to their positions in VEEV. Smith Group Asset Management LLC boosted its stake in Veeva Systems by 2.2% in the 4th quarter. Smith Group Asset Management LLC now owns 82,567 shares of the technology company's stock worth $17,360,000 after purchasing an additional 1,749 shares during the period. Venturi Wealth Management LLC boosted its position in shares of Veeva Systems by 2,716.7% during the fourth quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company's stock worth $36,000 after buying an additional 163 shares during the period. Union Bancaire Privee UBP SA bought a new position in shares of Veeva Systems during the fourth quarter worth about $3,525,000. AEGON ASSET MANAGEMENT UK Plc raised its position in Veeva Systems by 10.1% in the 4th quarter. AEGON ASSET MANAGEMENT UK Plc now owns 117,757 shares of the technology company's stock valued at $24,755,000 after buying an additional 10,836 shares during the last quarter. Finally, SYM FINANCIAL Corp acquired a new stake in Veeva Systems in the 4th quarter valued at approximately $729,000. Institutional investors own 88.20% of the company's stock.

Analysts Set New Price Targets

VEEV has been the topic of a number of research reports. Wall Street Zen raised shares of Veeva Systems from a "hold" rating to a "buy" rating in a research report on Monday, February 17th. The Goldman Sachs Group lowered shares of Veeva Systems from a "buy" rating to a "sell" rating and lowered their price target for the company from $261.00 to $200.00 in a research note on Thursday, January 23rd. Needham & Company LLC reiterated a "buy" rating and set a $270.00 price objective on shares of Veeva Systems in a research note on Thursday, March 6th. Truist Financial lifted their price objective on shares of Veeva Systems from $210.00 to $217.00 and gave the company a "hold" rating in a research report on Thursday, March 6th. Finally, JPMorgan Chase & Co. upped their target price on shares of Veeva Systems from $218.00 to $249.00 and gave the company a "neutral" rating in a report on Thursday, March 20th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, Veeva Systems presently has a consensus rating of "Moderate Buy" and a consensus target price of $254.92.

Insider Buying and Selling at Veeva Systems

In other news, Director Timothy S. Cabral sold 3,882 shares of the business's stock in a transaction 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 completion of the transaction, the director now owns 5,500 shares of the company's stock, valued at approximately $1,192,565. The trade was a 41.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Thomas D. Schwenger sold 1,200 shares of the firm's stock in a transaction dated 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 directly owns 25,889 shares in the company, 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 5,869 shares of company stock valued at $1,284,917 in the last three months. Corporate insiders own 10.30% of the company's stock.

Veeva Systems Trading Down 0.9%

Shares of NYSE:VEEV traded down $2.12 on Friday, reaching $233.41. 713,861 shares of the company's stock were exchanged, compared to its average volume of 1,111,151. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93. The company has a fifty day moving average of $229.00 and a 200-day moving average of $226.91. The company has a market capitalization of $37.97 billion, a price-to-earnings ratio of 57.63, a PEG ratio of 1.89 and a beta of 0.96.

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.