Townsquare Capital LLC Acquires 1,253 Shares of Veeva Systems Inc. (NYSE:VEEV)

Townsquare Capital LLC increased its holdings in Veeva Systems Inc. (NYSE:VEEV) by 35.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 4,762 shares of the technology company’s stock after purchasing an additional 1,253 shares during the period. Townsquare Capital LLC’s holdings in Veeva Systems were worth $999,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of VEEV. Patriot Financial Group Insurance Agency LLC increased its position in shares of Veeva Systems by 0.7% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 6,924 shares of the technology company’s stock valued at $1,453,000 after buying an additional 48 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its stake in Veeva Systems by 1.2% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,307 shares of the technology company’s stock worth $904,000 after purchasing an additional 50 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in Veeva Systems by 0.4% in the 2nd quarter. Clearbridge Investments LLC now owns 11,682 shares of the technology company’s stock valued at $2,138,000 after purchasing an additional 52 shares during the period. Park Place Capital Corp boosted its holdings in Veeva Systems by 11.5% in the 3rd quarter. Park Place Capital Corp now owns 574 shares of the technology company’s stock valued at $120,000 after purchasing an additional 59 shares during the period. Finally, Quintet Private Bank Europe S.A. grew its position in shares of Veeva Systems by 13.4% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 516 shares of the technology company’s stock valued at $108,000 after purchasing an additional 61 shares in the last quarter. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Thomas D. Schwenger sold 1,126 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $240.01, for a total transaction of $270,251.26. Following the completion of the transaction, the insider now owns 27,013 shares in the company, valued at $6,483,390.13. This represents a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 10.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. UBS Group increased their price objective on Veeva Systems from $185.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Royal Bank of Canada lifted their price target on Veeva Systems from $250.00 to $275.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Bank of America upped their price objective on shares of Veeva Systems from $204.00 to $240.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Piper Sandler lifted their target price on shares of Veeva Systems from $230.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Finally, StockNews.com raised shares of Veeva Systems from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $236.92.

Veeva Systems Trading Down 0.2 %

Veeva Systems stock opened at $227.46 on Tuesday. The firm has a market cap of $36.83 billion, a P/E ratio of 60.66, a P/E/G ratio of 2.21 and a beta of 0.81. Veeva Systems Inc. has a 1-year low of $165.12 and a 1-year high of $240.68. The firm has a 50-day moving average of $216.04 and a 200-day moving average of $202.05.

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 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.