Impact Investors Inc Buys New Stake in Veeva Systems Inc. $VEEV

Impact Investors Inc bought a new stake in shares of Veeva Systems Inc. (NYSE:VEEV) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 900 shares of the technology company’s stock, valued at approximately $259,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sowell Financial Services LLC acquired a new position in Veeva Systems during the first quarter valued at $274,000. Crossmark Global Holdings Inc. acquired a new position in Veeva Systems during the first quarter valued at $299,000. GAMMA Investing LLC raised its position in shares of Veeva Systems by 13.8% in the first quarter. GAMMA Investing LLC now owns 1,823 shares of the technology company’s stock worth $422,000 after acquiring an additional 221 shares during the period. Janney Montgomery Scott LLC acquired a new position in shares of Veeva Systems in the first quarter worth about $5,876,000. Finally, Private Trust Co. NA raised its position in shares of Veeva Systems by 35.0% in the first quarter. Private Trust Co. NA now owns 247 shares of the technology company’s stock worth $57,000 after acquiring an additional 64 shares during the period. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Evercore ISI upped their price objective on shares of Veeva Systems from $285.00 to $295.00 and gave the stock an “in-line” rating in a research report on Thursday, August 28th. Wall Street Zen downgraded shares of Veeva Systems from a “buy” rating to a “hold” rating in a research report on Friday. Barclays upped their price objective on shares of Veeva Systems from $300.00 to $325.00 and gave the stock an “overweight” rating in a research report on Thursday, August 28th. Stifel Nicolaus upped their price objective on shares of Veeva Systems from $295.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Finally, Mizuho upped their price objective on shares of Veeva Systems from $295.00 to $325.00 and gave the stock an “outperform” rating in a research report on Friday, August 29th. Sixteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $303.67.

Insider Activity at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 14,595 shares of the business’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $300.00, for a total value of $4,378,500.00. Following the transaction, the senior vice president directly owned 8,588 shares in the company, valued at $2,576,400. The trade was a 62.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Thomas D. Schwenger sold 3,350 shares of the business’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $300.04, for a total transaction of $1,005,134.00. Following the completion of the transaction, the insider owned 23,773 shares in the company, valued at $7,132,850.92. The trade was a 12.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,836 shares of company stock valued at $5,637,913. Corporate insiders own 10.30% of the company’s stock.

Veeva Systems Stock Down 1.4%

VEEV stock opened at $296.47 on Friday. The stock has a market capitalization of $48.60 billion, a P/E ratio of 60.88, a P/E/G ratio of 2.32 and a beta of 0.98. The firm has a 50-day simple moving average of $281.68 and a 200-day simple moving average of $262.76. Veeva Systems Inc. has a 52 week low of $200.30 and a 52 week high of $302.00.

Veeva Systems 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.