Sequoia Financial Advisors LLC increased its holdings in Veeva Systems Inc. (NYSE:VEEV – Free Report) by 8.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,344 shares of the technology company’s stock after buying an additional 2,246 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Veeva Systems were worth $5,030,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in VEEV. California State Teachers Retirement System raised its stake in Veeva Systems by 16,590.3% during the 2nd quarter. California State Teachers Retirement System now owns 39,388,224 shares of the technology company’s stock valued at $6,990,228,000 after acquiring an additional 39,152,230 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Veeva Systems by 7.0% in the first quarter. Principal Financial Group Inc. now owns 4,141,545 shares of the technology company’s stock worth $727,513,000 after purchasing an additional 271,252 shares in the last quarter. State Street Corp grew its stake in shares of Veeva Systems by 2.4% in the fourth quarter. State Street Corp now owns 3,589,425 shares of the technology company’s stock worth $801,267,000 after purchasing an additional 85,695 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Veeva Systems by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 3,172,716 shares of the technology company’s stock valued at $706,442,000 after purchasing an additional 23,117 shares during the period. Finally, AQR Capital Management LLC increased its holdings in shares of Veeva Systems by 31.2% during the third quarter. AQR Capital Management LLC now owns 2,412,210 shares of the technology company’s stock valued at $706,078,000 after purchasing an additional 574,164 shares during the period. 88.20% of the stock is currently owned by institutional investors and hedge funds.
Veeva Systems Stock Up 0.5%
NYSE:VEEV opened at $262.30 on Friday. The business’s 50-day moving average price is $228.50 and its 200 day moving average price is $190.94. The firm has a market cap of $42.47 billion, a P/E ratio of 43.14, a PEG ratio of 1.11 and a beta of 0.97. Veeva Systems Inc. has a 52-week low of $148.05 and a 52-week high of $310.50.
Insider Buying and Selling at Veeva Systems
In related news, Director Priscilla Hung sold 750 shares of Veeva Systems stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $261.04, for a total value of $195,780.00. Following the transaction, the director directly owned 3,242 shares in the company, valued at $846,291.68. The trade was a 18.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Thomas D. Schwenger sold 36,000 shares of the company’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $250.23, for a total value of $9,008,280.00. Following the sale, the insider directly owned 19,449 shares of the company’s stock, valued at approximately $4,866,723.27. This represents a 64.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 46,750 shares of company stock worth $12,017,360 in the last ninety days. 10.60% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on VEEV shares. Canaccord Genuity Group upped their price objective on shares of Veeva Systems from $220.00 to $260.00 and gave the stock a “hold” rating in a report on Thursday, August 27th. The Goldman Sachs Group lowered their target price on shares of Veeva Systems from $190.00 to $165.00 and set a “sell” rating on the stock in a research note on Thursday, June 4th. Royal Bank Of Canada boosted their price target on shares of Veeva Systems from $275.00 to $325.00 and gave the stock an “outperform” rating in a research report on Thursday, August 27th. Piper Sandler increased their price objective on shares of Veeva Systems from $295.00 to $320.00 and gave the company an “overweight” rating in a report on Thursday, August 27th. Finally, Needham & Company LLC raised their price objective 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. Nineteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Veeva Systems presently has a consensus rating of “Moderate Buy” and an average price target of $284.88.
Get Our Latest Stock Analysis on Veeva Systems
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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