LRT Capital Management LLC Buys 3,800 Shares of Veeva Systems Inc. (NYSE:VEEV)

LRT Capital Management LLC raised its stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 125.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,837 shares of the technology company's stock after buying an additional 3,800 shares during the quarter. LRT Capital Management LLC's holdings in Veeva Systems were worth $1,437,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in Veeva Systems during the fourth quarter valued at approximately $294,785,000. JPMorgan Chase & Co. boosted its position in shares of Veeva Systems by 73.2% during the third quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company's stock worth $536,972,000 after purchasing an additional 1,081,501 shares in the last quarter. Wealthfront Advisers LLC grew its holdings in shares of Veeva Systems by 29,760.5% in the 4th quarter. Wealthfront Advisers LLC now owns 1,048,700 shares of the technology company's stock valued at $220,489,000 after buying an additional 1,045,188 shares during the period. Principal Financial Group Inc. increased its position in shares of Veeva Systems by 36.0% in the 4th quarter. Principal Financial Group Inc. now owns 2,964,025 shares of the technology company's stock valued at $623,186,000 after buying an additional 784,741 shares in the last quarter. Finally, Marshall Wace LLP raised its stake in Veeva Systems by 413.3% during the 4th quarter. Marshall Wace LLP now owns 638,380 shares of the technology company's stock worth $134,219,000 after buying an additional 514,004 shares during the period. Institutional investors own 88.20% of the company's stock.

Veeva Systems Stock Performance

VEEV opened at $236.60 on Monday. The business's 50-day simple moving average is $227.98 and its 200 day simple moving average is $225.39. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93. The firm has a market capitalization of $38.49 billion, a PE ratio of 58.42, a PEG ratio of 1.89 and a beta of 0.96.

Insiders Place Their Bets

In other news, insider Thomas D. Schwenger sold 1,200 shares of the business's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $220.97, for a total transaction of $265,164.00. Following the transaction, the insider now directly owns 25,889 shares in the company, valued at $5,720,692.33. The trade was a 4.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Jonathan Faddis sold 787 shares of the firm's 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 completion of the sale, the senior vice president now owns 8,668 shares of the company's stock, valued at $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. Insiders have sold 5,869 shares of company stock valued at $1,284,917 in the last 90 days. 10.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on VEEV shares. JPMorgan Chase & Co. boosted their target price on Veeva Systems from $218.00 to $249.00 and gave the company a "neutral" rating in a research note on Thursday, March 20th. Piper Sandler decreased their price objective on Veeva Systems from $290.00 to $255.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Needham & Company LLC restated a "buy" rating and set a $270.00 target price on shares of Veeva Systems in a report on Thursday, March 6th. Scotiabank lifted their price target on shares of Veeva Systems from $240.00 to $245.00 and gave the company a "sector perform" rating in a research note on Thursday, March 6th. Finally, Robert W. Baird increased their price objective on shares of Veeva Systems from $283.00 to $285.00 and gave the stock an "outperform" rating in a research report on Thursday, March 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Veeva Systems has an average rating of "Moderate Buy" and an average price target of $254.92.

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.

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