Raymond James & Associates raised its stake in Veeva Systems Inc. (NYSE:VEEV – Free Report) by 40.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 87,279 shares of the technology company’s stock after acquiring an additional 25,216 shares during the quarter. Raymond James & Associates owned about 0.05% of Veeva Systems worth $17,258,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the stock. Pinnacle Bancorp Inc. bought a new stake in Veeva Systems in the 1st quarter valued at about $26,000. Ahrens Investment Partners LLC bought a new position in Veeva Systems during the 1st quarter worth $27,000. Barrett & Company Inc. bought a new stake in shares of Veeva Systems during the 1st quarter valued at $28,000. Resurgent Financial Advisors LLC acquired a new stake in shares of Veeva Systems during the 4th quarter worth $33,000. Finally, Manchester Capital Management LLC bought a new position in shares of Veeva Systems in the first quarter worth $40,000. 80.07% of the stock is currently owned by institutional investors and hedge funds.
Veeva Systems Stock Performance
Shares of VEEV stock opened at $216.11 on Monday. The firm has a market capitalization of $34.72 billion, a PE ratio of 65.09, a P/E/G ratio of 3.19 and a beta of 0.91. The stock’s 50-day simple moving average is $203.46 and its 200-day simple moving average is $193.04. Veeva Systems Inc. has a fifty-two week low of $151.02 and a fifty-two week high of $225.49.
Insider Activity
In other news, EVP Alan Mateo sold 13,801 shares of the business’s stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $197.67, for a total transaction of $2,728,043.67. Following the completion of the transaction, the executive vice president now directly owns 20,718 shares of the company’s stock, valued at $4,095,327.06. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Veeva Systems news, EVP Alan Mateo sold 13,801 shares of Veeva Systems stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $197.67, for a total value of $2,728,043.67. Following the transaction, the executive vice president now directly owns 20,718 shares in the company, valued at approximately $4,095,327.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Thomas D. Schwenger sold 1,238 shares of the stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $220.00, for a total transaction of $272,360.00. Following the transaction, the chief operating officer now directly owns 21,329 shares of the company’s stock, valued at $4,692,380. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,539 shares of company stock valued at $5,606,179. 10.98% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
Several research analysts have recently issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $225.00 price target on shares of Veeva Systems in a report on Thursday, August 31st. Barclays increased their price target on shares of Veeva Systems from $227.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 13th. StockNews.com lowered shares of Veeva Systems from a “buy” rating to a “hold” rating in a research note on Friday. KeyCorp boosted their target price on Veeva Systems from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Wednesday, October 11th. Finally, Raymond James raised their price target on shares of Veeva Systems from $210.00 to $240.00 and gave the company an “outperform” rating in a research report on Thursday, August 31st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, Veeva Systems has an average rating of “Moderate Buy” and a consensus target price of $219.58.
Read Our Latest Analysis on Veeva Systems
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 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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