Two Sigma Advisers LP Boosts Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Two Sigma Advisers LP grew its position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 54.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 519,400 shares of the technology company's stock after buying an additional 183,400 shares during the quarter. Two Sigma Advisers LP owned 0.32% of Veeva Systems worth $109,204,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB lifted its position in shares of Veeva Systems by 72.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company's stock worth $25,000 after buying an additional 50 shares in the last quarter. Centricity Wealth Management LLC bought a new position in shares of Veeva Systems during the 4th quarter worth approximately $25,000. Smithfield Trust Co lifted its position in shares of Veeva Systems by 145.5% during the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company's stock worth $27,000 after buying an additional 80 shares in the last quarter. Avion Wealth raised its position in Veeva Systems by 635.0% in the fourth quarter. Avion Wealth now owns 147 shares of the technology company's stock worth $30,000 after acquiring an additional 127 shares during the period. Finally, Venturi Wealth Management LLC boosted its stake in Veeva Systems by 2,716.7% in the fourth quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company's stock valued at $36,000 after acquiring an additional 163 shares during the last quarter. Institutional investors own 88.20% of the company's stock.

Veeva Systems Stock Up 0.2%

NYSE:VEEV traded up $0.44 during midday trading on Thursday, hitting $235.44. The company had a trading volume of 1,068,020 shares, compared to its average volume of 1,112,166. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93. The stock's fifty day moving average price is $229.03 and its 200-day moving average price is $226.75. The company has a market capitalization of $38.31 billion, a PE ratio of 58.13, a P/E/G ratio of 1.89 and a beta of 0.96.

Insider Buying and Selling

In related news, SVP Jonathan Faddis sold 787 shares of the company's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total value of $178,019.40. Following the completion of the transaction, the senior vice president now directly owns 8,668 shares in the company, valued at approximately $1,960,701.60. The trade was a 8.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Timothy S. Cabral sold 3,882 shares of the company'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 $1,192,565. This trade represents a 41.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,869 shares of company stock worth $1,284,917. Corporate insiders own 10.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on VEEV shares. Piper Sandler dropped their target price on shares of Veeva Systems from $290.00 to $255.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. The Goldman Sachs Group cut shares of Veeva Systems from a "buy" rating to a "sell" rating and lowered their price target for the stock from $261.00 to $200.00 in a report on Thursday, January 23rd. Scotiabank lifted their price target on shares of Veeva Systems from $240.00 to $245.00 and gave the stock a "sector perform" rating in a report on Thursday, March 6th. JPMorgan Chase & Co. lifted their price target on shares of Veeva Systems from $218.00 to $249.00 and gave the stock a "neutral" rating in a report on Thursday, March 20th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $270.00 price target on shares of Veeva Systems in a report on Thursday, March 6th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $254.92.

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.