MGO One Seven LLC purchased a new position in Veeva Systems Inc. (NYSE:VEEV – Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,338 shares of the technology company’s stock, valued at approximately $246,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Norges Bank purchased a new position in Veeva Systems during the fourth quarter valued at $259,703,000. Alliancebernstein L.P. lifted its position in Veeva Systems by 24.3% during the fourth quarter. Alliancebernstein L.P. now owns 7,362,861 shares of the technology company’s stock valued at $1,188,219,000 after buying an additional 1,440,210 shares during the period. Wellington Management Group LLP lifted its position in Veeva Systems by 1,578.4% during the first quarter. Wellington Management Group LLP now owns 1,504,355 shares of the technology company’s stock valued at $319,616,000 after buying an additional 1,414,726 shares during the period. Winslow Capital Management LLC lifted its position in Veeva Systems by 64.7% during the fourth quarter. Winslow Capital Management LLC now owns 2,344,419 shares of the technology company’s stock valued at $378,342,000 after buying an additional 920,633 shares during the period. Finally, Artisan Partners Limited Partnership lifted its position in Veeva Systems by 5.8% during the fourth quarter. Artisan Partners Limited Partnership now owns 9,942,231 shares of the technology company’s stock valued at $1,604,477,000 after buying an additional 548,700 shares during the period. Hedge funds and other institutional investors own 89.65% of the company’s stock.
Veeva Systems Stock Up 0.4 %
Veeva Systems stock opened at $191.95 on Thursday. Veeva Systems Inc. has a 52-week low of $151.02 and a 52-week high of $228.84. The company has a market cap of $30.75 billion, a P/E ratio of 59.98, a P/E/G ratio of 3.50 and a beta of 0.96. The business has a 50-day simple moving average of $198.38 and a two-hundred day simple moving average of $183.33.
Insider Activity
In other news, Director Timothy S. Cabral sold 12,036 shares of Veeva Systems stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $200.05, for a total transaction of $2,407,801.80. Following the transaction, the director now directly owns 71,078 shares of the company’s stock, valued at approximately $14,219,153.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CAO Michele O’connor sold 3,137 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $197.95, for a total value of $620,969.15. Following the transaction, the chief accounting officer now directly owns 8,433 shares of the company’s stock, valued at approximately $1,669,312.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Timothy S. Cabral sold 12,036 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $200.05, for a total value of $2,407,801.80. Following the completion of the transaction, the director now directly owns 71,078 shares in the company, valued at $14,219,153.90. The disclosure for this sale can be found here. Insiders have sold a total of 15,425 shares of company stock valued at $3,078,109 in the last ninety days. Corporate insiders own 10.98% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on the company. Raymond James raised their price target on Veeva Systems from $200.00 to $210.00 in a report on Thursday, June 1st. UBS Group reduced their price target on Veeva Systems from $190.00 to $175.00 in a report on Monday, May 22nd. Barclays raised their price target on Veeva Systems from $203.00 to $225.00 in a report on Friday, June 23rd. Morgan Stanley downgraded Veeva Systems from an “equal weight” rating to an “underweight” rating and set a $181.00 price target for the company. in a report on Wednesday, June 28th. Finally, StockNews.com assumed coverage on Veeva Systems in a report on Thursday. They set a “hold” rating for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $206.86.
View Our Latest Analysis on VEEV
Veeva Systems Company Profile
Veeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and data 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.
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