Woodline Partners LP Makes New Investment in Veeva Systems Inc. (NYSE:VEEV)

Woodline Partners LP bought a new position in Veeva Systems Inc. (NYSE:VEEV - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 80,573 shares of the technology company's stock, valued at approximately $16,940,000.

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

Insider Transactions at Veeva Systems

In other news, 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 of the company's stock, valued at approximately $5,720,692.33. This trade represents a 4.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Jonathan Faddis sold 787 shares of Veeva Systems stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total transaction of $178,019.40. Following the transaction, the senior vice president now directly owns 8,668 shares of the company's stock, valued at approximately $1,960,701.60. This trade represents a 8.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,869 shares of company stock valued at $1,284,917. Company insiders own 10.30% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on VEEV shares. Robert W. Baird raised their price objective on shares of Veeva Systems from $283.00 to $285.00 and gave the company an "outperform" rating in a research report on Thursday, March 6th. Piper Sandler lowered their price objective on shares of Veeva Systems from $290.00 to $255.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Needham & Company LLC restated a "buy" rating and set a $270.00 price objective on shares of Veeva Systems in a research report on Thursday, March 6th. KeyCorp lowered their price objective on shares of Veeva Systems from $260.00 to $250.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Finally, 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. Two analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Veeva Systems has an average rating of "Moderate Buy" and an average price target of $254.92.

Veeva Systems Stock Down 0.9%

Shares of NYSE:VEEV traded down $2.12 on Friday, hitting $233.41. The company had a trading volume of 858,455 shares, compared to its average volume of 1,114,486. The firm's 50-day simple moving average is $228.95 and its two-hundred day simple moving average is $227.05. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93. The firm has a market capitalization of $37.97 billion, a price-to-earnings ratio of 57.63, a P/E/G ratio of 1.89 and a beta of 0.96.

Veeva Systems 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.