RFG Advisory LLC bought a new stake in shares of Veeva Systems Inc. (NYSE:VEEV – Free Report) during the 2nd quarter, Holdings Channel.com reports. The fund bought 7,986 shares of the technology company’s stock, valued at approximately $1,417,000.
A number of other institutional investors and hedge funds have also made changes to their positions in VEEV. Sivia Capital Partners LLC boosted its holdings in shares of Veeva Systems by 225.9% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,122 shares of the technology company’s stock valued at $899,000 after buying an additional 2,164 shares in the last quarter. Bank of Nova Scotia raised its stake in Veeva Systems by 44.5% in the 2nd quarter. Bank of Nova Scotia now owns 5,866 shares of the technology company’s stock worth $1,689,000 after acquiring an additional 1,806 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Veeva Systems by 34.6% during the second quarter. NewEdge Advisors LLC now owns 8,832 shares of the technology company’s stock worth $2,543,000 after purchasing an additional 2,272 shares during the period. Treasurer of the State of North Carolina increased its stake in shares of Veeva Systems by 2.2% in the second quarter. Treasurer of the State of North Carolina now owns 68,950 shares of the technology company’s stock worth $19,856,000 after acquiring an additional 1,452 shares during the period. Finally, Diversify Wealth Management LLC raised its stake in shares of Veeva Systems by 5.3% during the 2nd quarter. Diversify Wealth Management LLC now owns 11,399 shares of the technology company’s stock valued at $3,140,000 after buying an additional 575 shares during the last quarter. 88.20% of the stock is currently owned by hedge funds and other institutional investors.
Veeva Systems Price Performance
Shares of NYSE:VEEV opened at $262.30 on Friday. Veeva Systems Inc. has a 1 year low of $148.05 and a 1 year high of $310.50. The firm has a market capitalization of $42.47 billion, a PE ratio of 43.14, a P/E/G ratio of 1.11 and a beta of 0.97. The business’s 50 day moving average price is $228.50 and its 200-day moving average price is $190.94.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on VEEV shares. Needham & Company LLC boosted their target price on shares of Veeva Systems from $270.00 to $310.00 and gave the company a “buy” rating in a research note on Thursday, August 27th. Canaccord Genuity Group increased their target price on Veeva Systems from $220.00 to $260.00 and gave the company a “hold” rating in a research report on Thursday, August 27th. Jefferies Financial Group reissued a “buy” rating and issued a $295.00 price target on shares of Veeva Systems in a research note on Thursday, August 27th. BTIG Research reaffirmed a “buy” rating and set a $340.00 price objective on shares of Veeva Systems in a report on Thursday, June 4th. Finally, Truist Financial lifted their target price on shares of Veeva Systems from $262.00 to $305.00 and gave the company a “buy” rating in a research report on Thursday, August 27th. Nineteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $284.88.
Read Our Latest Stock Report on VEEV
Insiders Place Their Bets
In related news, insider Thomas D. Schwenger sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $281.33, for a total transaction of $2,813,300.00. Following the transaction, the insider directly owned 19,449 shares in the company, valued at approximately $5,471,587.17. The trade was a 33.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Priscilla Hung sold 750 shares of the company’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $261.04, for a total transaction of $195,780.00. Following the sale, the director directly owned 3,242 shares of the company’s stock, valued at approximately $846,291.68. This represents a 18.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 46,750 shares of company stock valued at $12,017,360 in the last ninety days. Insiders own 10.60% of the company’s stock.
Veeva Systems Company Profile
Veeva Systems Inc is a cloud software company that provides technology solutions for the life sciences industry, including pharmaceutical, biotechnology, medical device and related organizations. Its applications are designed to support functions across the product lifecycle, from research and clinical development through regulatory approval, manufacturing, quality management and commercial operations.
The company’s Veeva Vault platform includes applications for clinical data management, electronic trial management, regulatory information, quality processes, safety operations and commercial content management.
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