17,377 Shares in Veeva Systems Inc. (NYSE:VEEV) Purchased by Sone Capital Management LLC

Sone Capital Management LLC bought a new stake in Veeva Systems Inc. (NYSE:VEEV) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 17,377 shares of the technology company’s stock, valued at approximately $3,654,000.

Other large investors have also modified their holdings of the company. Barclays PLC raised its holdings in shares of Veeva Systems by 18.2% in the third quarter. Barclays PLC now owns 185,206 shares of the technology company’s stock worth $38,870,000 after buying an additional 28,497 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Veeva Systems by 73.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company’s stock valued at $536,972,000 after purchasing an additional 1,081,501 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Veeva Systems by 182.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 60,072 shares of the technology company’s stock valued at $12,630,000 after buying an additional 38,793 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its position in shares of Veeva Systems by 71.5% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 2,507 shares of the technology company’s stock valued at $527,000 after purchasing an additional 1,045 shares during the period. Finally, Procyon Advisors LLC increased its stake in Veeva Systems by 11.9% during the 4th quarter. Procyon Advisors LLC now owns 3,796 shares of the technology company’s stock worth $798,000 after buying an additional 405 shares in the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Insider Buying and Selling at Veeva Systems

In related news, SVP Jonathan Faddis sold 787 shares of the business’s stock in a transaction on 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 in the company, valued at $1,960,701.60. The trade was a 8.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Timothy S. Cabral sold 3,882 shares of Veeva Systems stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $216.83, for a total transaction of $841,734.06. Following the sale, the director now owns 5,500 shares in the company, valued at approximately $1,192,565. This represents a 41.38% 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 worth $1,284,917 over the last 90 days. Company insiders own 10.30% of the company’s stock.

Veeva Systems Stock Performance

NYSE:VEEV opened at $242.48 on Monday. The stock’s 50-day simple moving average is $228.63 and its 200 day simple moving average is $226.41. The company has a market cap of $39.45 billion, a P/E ratio of 59.87, a P/E/G ratio of 1.89 and a beta of 0.96. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on VEEV shares. StockNews.com upgraded Veeva Systems from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Stephens reaffirmed an “overweight” rating and issued a $280.00 target price on shares of Veeva Systems in a research report on Thursday, March 6th. Needham & Company LLC reiterated a “buy” rating and issued a $270.00 price objective on shares of Veeva Systems in a research note on Thursday, March 6th. The Goldman Sachs Group cut shares of Veeva Systems from a “buy” rating to a “sell” rating and lowered their price target for the stock from $261.00 to $200.00 in a report on Thursday, January 23rd. Finally, Morgan Stanley increased their price target on shares of Veeva Systems from $195.00 to $201.00 and gave the company an “underweight” rating in a research note on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Veeva Systems presently has a consensus rating of “Moderate Buy” and an average target price of $254.92.

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.