Two Sigma Investments LP Boosts Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Two Sigma Investments LP lifted its stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 31.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 344,540 shares of the technology company's stock after acquiring an additional 81,850 shares during the period. Two Sigma Investments LP owned approximately 0.21% of Veeva Systems worth $72,440,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Cardinal Capital Management raised its holdings in shares of Veeva Systems by 0.3% in the 4th quarter. Cardinal Capital Management now owns 15,727 shares of the technology company's stock valued at $3,307,000 after acquiring an additional 44 shares in the last quarter. Johnson Financial Group Inc. increased its position in shares of Veeva Systems by 22.7% in the fourth quarter. Johnson Financial Group Inc. now owns 238 shares of the technology company's stock worth $56,000 after purchasing an additional 44 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in Veeva Systems by 72.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company's stock valued at $25,000 after purchasing an additional 50 shares in the last quarter. Patriot Financial Group Insurance Agency LLC lifted its position in Veeva Systems by 0.7% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 6,975 shares of the technology company's stock valued at $1,467,000 after purchasing an additional 51 shares during the last quarter. Finally, Old North State Wealth Management LLC lifted its position in Veeva Systems by 0.4% during the fourth quarter. Old North State Wealth Management LLC now owns 15,351 shares of the technology company's stock valued at $3,228,000 after purchasing an additional 55 shares during the last quarter. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Veeva Systems

In other news, Director Timothy S. Cabral sold 3,882 shares of the firm'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 value of $841,734.06. Following the completion of the transaction, the director now owns 5,500 shares in the company, valued at $1,192,565. This trade represents a 41.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Thomas D. Schwenger sold 1,200 shares of Veeva Systems 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 sale, the insider now owns 25,889 shares in the company, valued at $5,720,692.33. This represents a 4.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,869 shares of company stock valued at $1,284,917. 10.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on VEEV. Stephens restated an "overweight" rating and set a $280.00 price objective on shares of Veeva Systems in a research report on Thursday, March 6th. Morgan Stanley raised their price target on Veeva Systems from $195.00 to $201.00 and gave the company an "underweight" rating in a research report on Thursday, March 6th. The Goldman Sachs Group lowered Veeva Systems from a "buy" rating to a "sell" rating and dropped their price target for the stock from $261.00 to $200.00 in a research note on Thursday, January 23rd. StockNews.com upgraded Veeva Systems from a "hold" rating to a "buy" rating in a report on Monday, February 17th. Finally, Robert W. Baird raised their price objective on Veeva Systems from $283.00 to $285.00 and gave the company an "outperform" rating in a report on Thursday, March 6th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $254.92.

Veeva Systems Stock Down 1.3%

Shares of Veeva Systems stock opened at $239.62 on Tuesday. The business has a 50 day moving average of $228.75 and a 200 day moving average of $226.60. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93. The company has a market cap of $38.99 billion, a PE ratio of 59.17, a P/E/G ratio of 1.89 and a beta of 0.96.

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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