Teza Capital Management LLC Boosts Stake in Veeva Systems Inc. (NYSE:VEEV)

Teza Capital Management LLC raised its position in Veeva Systems Inc. (NYSE:VEEV) by 17.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,371 shares of the technology company’s stock after buying an additional 2,570 shares during the period. Teza Capital Management LLC’s holdings in Veeva Systems were worth $3,652,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Cardinal Capital Management raised its stake in shares of Veeva Systems by 0.3% in the 4th quarter. Cardinal Capital Management now owns 15,727 shares of the technology company’s stock valued at $3,307,000 after purchasing an additional 44 shares in the last quarter. Johnson Financial Group Inc. increased its stake in shares of Veeva Systems by 22.7% in the fourth quarter. Johnson Financial Group Inc. now owns 238 shares of the technology company’s stock valued at $56,000 after purchasing an additional 44 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings 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 acquiring an additional 50 shares in the last quarter. Patriot Financial Group Insurance Agency LLC boosted its holdings 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 acquiring an additional 51 shares in the last quarter. Finally, Old North State Wealth Management LLC boosted its holdings 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 acquiring an additional 55 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insider Activity at Veeva Systems

In other Veeva Systems 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 value 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jonathan Faddis sold 787 shares of the business’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 transaction, the senior vice president now owns 8,668 shares in the company, 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. Insiders have sold a total of 5,869 shares of company stock valued at $1,284,917 over the last quarter. 10.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on VEEV. Piper Sandler reduced their target price on shares of Veeva Systems from $290.00 to $255.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. Robert W. Baird lifted their target price on shares of Veeva Systems from $283.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday, March 6th. StockNews.com raised shares of Veeva Systems from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $270.00 price objective on shares of Veeva Systems in a research note on Thursday, March 6th. Finally, Morgan Stanley boosted their target price on shares of Veeva Systems from $195.00 to $201.00 and gave the stock an “underweight” rating 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 given a buy rating to the company’s stock. Based on data from MarketBeat.com, Veeva Systems has a consensus rating of “Moderate Buy” and a consensus price target of $254.92.

Veeva Systems Stock Up 0.4%

NYSE VEEV opened at $242.48 on Friday. The stock has a market cap of $39.45 billion, a P/E ratio of 59.87, a PEG ratio of 1.89 and a beta of 0.96. The company’s 50-day simple moving average is $228.63 and its 200 day simple moving average is $226.29. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month 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.