122,719 Shares in Veeva Systems Inc. (NYSE:VEEV) Purchased by Susquehanna Fundamental Investments LLC

Susquehanna Fundamental Investments LLC bought a new position in Veeva Systems Inc. (NYSE:VEEV - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 122,719 shares of the technology company's stock, valued at approximately $25,802,000. Susquehanna Fundamental Investments LLC owned 0.08% of Veeva Systems at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cardinal Capital Management raised its stake in Veeva Systems by 0.3% during the fourth quarter. Cardinal Capital Management now owns 15,727 shares of the technology company's stock worth $3,307,000 after acquiring an additional 44 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in shares of 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 buying an additional 50 shares in the last quarter. Patriot Financial Group Insurance Agency LLC increased its stake in shares of Veeva Systems by 0.7% in 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 buying an additional 51 shares in the last quarter. CHICAGO TRUST Co NA increased its stake in shares of Veeva Systems by 2.9% in the fourth quarter. CHICAGO TRUST Co NA now owns 1,880 shares of the technology company's stock valued at $395,000 after buying an additional 53 shares in the last quarter. Finally, Old North State Wealth Management LLC increased its stake in shares of Veeva Systems by 0.4% in 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 buying an additional 55 shares in the last quarter. 88.20% of the stock is owned by institutional investors.

Insider Buying and Selling 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 transaction of $265,164.00. Following the completion of the sale, the insider now owns 25,889 shares in the company, valued at approximately $5,720,692.33. This trade represents a 4.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Jonathan Faddis sold 787 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The stock was 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 of the company's stock, valued at approximately $1,960,701.60. This represents a 8.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,869 shares of company stock worth $1,284,917 over the last quarter. 10.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. The Goldman Sachs Group lowered Veeva Systems from a "buy" rating to a "sell" rating and lowered their target price for the company 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 research report on Monday, February 17th. Stephens reiterated an "overweight" rating and issued a $280.00 price objective on shares of Veeva Systems in a research report on Thursday, March 6th. JPMorgan Chase & Co. lifted their price objective on Veeva Systems from $218.00 to $249.00 and gave the stock a "neutral" rating in a research report on Thursday, March 20th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $270.00 price objective on shares of Veeva Systems in a research report on Thursday, March 6th. Two investment 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $254.92.

Veeva Systems Price Performance

VEEV stock traded down $0.04 during trading hours on Thursday, reaching $233.65. The stock had a trading volume of 255,845 shares, compared to its average volume of 1,213,495. The stock has a market capitalization of $38.01 billion, a PE ratio of 57.69, a price-to-earnings-growth ratio of 1.89 and a beta of 1.05. The stock has a 50-day simple moving average of $226.11 and a 200 day simple moving average of $224.32. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93.

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.