Veeva Systems Inc. (NYSE:VEEV) is Tairen Capital Ltd’s 4th Largest Position

Tairen Capital Ltd raised its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 163.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 245,350 shares of the technology company’s stock after purchasing an additional 152,350 shares during the period. Veeva Systems accounts for about 7.6% of Tairen Capital Ltd’s investment portfolio, making the stock its 4th largest position. Tairen Capital Ltd owned approximately 0.15% of Veeva Systems worth $51,585,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. TenCore Partners LP purchased a new stake in shares of Veeva Systems during the 4th quarter worth about $210,000. Teza Capital Management LLC raised its stake in shares of Veeva Systems by 17.4% in the 4th quarter. Teza Capital Management LLC now owns 17,371 shares of the technology company’s stock valued at $3,652,000 after acquiring an additional 2,570 shares in the last quarter. True Wealth Design LLC raised its stake in shares of Veeva Systems by 46.0% in the 4th quarter. True Wealth Design LLC now owns 203 shares of the technology company’s stock valued at $43,000 after acquiring an additional 64 shares in the last quarter. Stockbridge Partners LLC bought a new position in shares of Veeva Systems in the 4th quarter valued at approximately $137,260,000. Finally, Siemens Fonds Invest GmbH raised its stake in shares of Veeva Systems by 1,538.3% in the 4th quarter. Siemens Fonds Invest GmbH now owns 55,195 shares of the technology company’s stock valued at $11,605,000 after acquiring an additional 51,826 shares in the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems Trading Up 0.4%

Shares of NYSE:VEEV opened at $242.48 on Friday. 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 $39.45 billion, a PE ratio of 59.87, a PEG ratio of 1.89 and a beta of 0.96. The business’s 50 day moving average is $228.63 and its 200-day moving average is $226.29.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. The Goldman Sachs Group downgraded Veeva Systems from a “buy” rating to a “sell” rating and cut their price objective for the company from $261.00 to $200.00 in a research note on Thursday, January 23rd. Needham & Company LLC reissued a “buy” rating and issued a $270.00 price objective on shares of Veeva Systems in a research note on Thursday, March 6th. StockNews.com raised Veeva Systems from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Robert W. Baird raised their price objective on Veeva Systems from $283.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday, March 6th. Finally, KeyCorp cut their price objective on Veeva Systems from $260.00 to $250.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $254.92.

Insider Transactions at Veeva Systems

In related news, 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 owns 25,889 shares in the company, valued at $5,720,692.33. This trade represents a 4.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jonathan Faddis sold 787 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total value of $178,019.40. Following the transaction, 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 position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,869 shares of company stock valued at $1,284,917. 10.30% of the stock is owned by corporate insiders.

About Veeva Systems

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.