Mariner LLC Acquires 1,396 Shares of Veeva Systems Inc. (NYSE:VEEV)

Mariner LLC lifted its stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 5.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,936 shares of the technology company's stock after buying an additional 1,396 shares during the period. Mariner LLC's holdings in Veeva Systems were worth $5,663,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of VEEV. Townsquare Capital LLC grew its position in shares of Veeva Systems by 3.1% during the fourth quarter. Townsquare Capital LLC now owns 4,912 shares of the technology company's stock worth $1,033,000 after acquiring an additional 150 shares during the last quarter. Crux Wealth Advisors purchased a new position in Veeva Systems during the 4th quarter worth $237,000. Fortis Capital Advisors LLC boosted its stake in shares of Veeva Systems by 99.9% during the fourth quarter. Fortis Capital Advisors LLC now owns 7,212 shares of the technology company's stock worth $1,561,000 after buying an additional 3,605 shares during the period. First Foundation Advisors grew its stake in shares of Veeva Systems by 13.5% in the 4th quarter. First Foundation Advisors now owns 22,608 shares of the technology company's stock valued at $4,753,000 after purchasing an additional 2,688 shares during the last quarter. Finally, Treasurer of the State of North Carolina increased its stake in Veeva Systems by 0.5% in the 4th quarter. Treasurer of the State of North Carolina now owns 66,602 shares of the technology company's stock valued at $14,003,000 after buying an additional 310 shares during the period. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Piper Sandler dropped their target price on Veeva Systems from $290.00 to $255.00 and set an "overweight" rating on the stock in a research report on Wednesday. Truist Financial upped their price objective on Veeva Systems from $210.00 to $217.00 and gave the stock a "hold" rating in a report on Thursday, March 6th. Stephens reissued an "overweight" rating and issued a $280.00 target price on shares of Veeva Systems in a report on Thursday, March 6th. KeyCorp lowered their price target on shares of Veeva Systems from $260.00 to $250.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Finally, JPMorgan Chase & Co. boosted their price objective 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. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $254.92.

Insiders Place Their Bets

In other news, SVP Jonathan Faddis sold 787 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total transaction of $178,019.40. Following the sale, the senior vice president now owns 8,668 shares in the company, valued at $1,960,701.60. The trade was a 8.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas D. Schwenger sold 1,200 shares of the firm's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $220.97, for a total transaction of $265,164.00. Following the completion of the transaction, the insider now directly owns 25,889 shares of the company's stock, valued at $5,720,692.33. This represents a 4.43 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,869 shares of company stock worth $1,284,917. 10.50% of the stock is owned by company insiders.

Veeva Systems Stock Down 0.7 %

NYSE VEEV traded down $1.60 on Friday, hitting $226.12. The stock had a trading volume of 207,812 shares, compared to its average volume of 1,069,318. The company's 50-day moving average is $226.08 and its two-hundred day moving average is $223.73. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93. The stock has a market cap of $36.79 billion, a price-to-earnings ratio of 55.91, a P/E/G ratio of 1.89 and a beta of 1.05.

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.