Graham Capital Management L.P. Purchases 3,878 Shares of Veeva Systems Inc. (NYSE:VEEV)

Graham Capital Management L.P. lifted its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 35.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,826 shares of the technology company’s stock after buying an additional 3,878 shares during the quarter. Graham Capital Management L.P.’s holdings in Veeva Systems were worth $3,117,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB increased its position in Veeva Systems by 72.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock valued at $25,000 after purchasing an additional 50 shares during the period. Centricity Wealth Management LLC bought a new position in Veeva Systems in the fourth quarter worth approximately $25,000. Smithfield Trust Co raised its stake in Veeva Systems by 145.5% in the fourth quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock worth $27,000 after buying an additional 80 shares in the last quarter. Avion Wealth lifted its holdings in Veeva Systems by 635.0% during the fourth quarter. Avion Wealth now owns 147 shares of the technology company’s stock worth $30,000 after buying an additional 127 shares during the period. Finally, Retirement Wealth Solutions LLC bought a new stake in Veeva Systems during the 4th quarter valued at $31,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Insider Buying and Selling at Veeva Systems

In other news, SVP Jonathan Faddis sold 787 shares of the company’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 transaction of $178,019.40. Following the completion of the transaction, the senior vice president now directly owns 8,668 shares of the company’s stock, valued at $1,960,701.60. This represents a 8.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Thomas D. Schwenger sold 1,200 shares of Veeva Systems stock in a transaction on 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 directly owns 25,889 shares in the company, valued at $5,720,692.33. This represents a 4.43 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,869 shares of company stock valued at $1,284,917. Corporate insiders own 10.50% of the company’s stock.

Veeva Systems Price Performance

Shares of NYSE VEEV opened at $236.60 on Friday. The firm’s 50 day simple moving average is $227.98 and its 200-day simple moving average is $225.30. Veeva Systems Inc. has a 12 month low of $170.25 and a 12 month high of $258.93. The stock has a market capitalization of $38.49 billion, a price-to-earnings ratio of 58.42, a PEG ratio of 1.89 and a beta of 0.96.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. upped their price objective on Veeva Systems from $218.00 to $249.00 and gave the stock a “neutral” rating in a research note on Thursday, March 20th. The Goldman Sachs Group cut shares of Veeva Systems from a “buy” rating to a “sell” rating and lowered their price target for the company from $261.00 to $200.00 in a report on Thursday, January 23rd. Morgan Stanley boosted their price objective on shares of Veeva Systems from $195.00 to $201.00 and gave the stock an “underweight” rating in a research note on Thursday, March 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $270.00 price target on shares of Veeva Systems in a report on Thursday, March 6th. Finally, StockNews.com upgraded Veeva Systems from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $254.92.

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.