Veeva Systems Inc. (NYSE:VEEV) Position Boosted by Park Avenue Securities LLC

Park Avenue Securities LLC boosted its holdings in Veeva Systems Inc. (NYSE:VEEV) by 1.9% during the 4th quarter, Holdings Channel reports. The fund owned 12,228 shares of the technology company’s stock after acquiring an additional 233 shares during the quarter. Park Avenue Securities LLC’s holdings in Veeva Systems were worth $2,571,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in VEEV. J.W. Cole Advisors Inc. acquired a new stake in shares of Veeva Systems in the 2nd quarter worth approximately $221,000. Dimensional Fund Advisors LP raised its holdings in Veeva Systems by 26.2% during the second quarter. Dimensional Fund Advisors LP now owns 378,380 shares of the technology company’s stock worth $69,259,000 after purchasing an additional 78,654 shares in the last quarter. Argent Trust Co lifted its position in Veeva Systems by 12.6% in the second quarter. Argent Trust Co now owns 5,498 shares of the technology company’s stock worth $1,006,000 after purchasing an additional 616 shares during the period. Amalgamated Bank boosted its stake in Veeva Systems by 2.1% during the 2nd quarter. Amalgamated Bank now owns 9,968 shares of the technology company’s stock valued at $1,824,000 after purchasing an additional 201 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its position in shares of Veeva Systems by 8.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,388 shares of the technology company’s stock valued at $1,901,000 after purchasing an additional 819 shares during the period. Institutional investors own 88.20% of the company’s stock.

Insider Activity at Veeva Systems

In other news, SVP Jonathan Faddis sold 1,694 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total transaction of $390,128.20. Following the completion of the sale, the senior vice president now owns 8,061 shares in the company, valued at approximately $1,856,448.30. This represents a 17.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Thomas D. Schwenger sold 1,126 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $240.01, for a total value of $270,251.26. Following the completion of the transaction, the insider now directly owns 27,013 shares in the company, valued at $6,483,390.13. The trade was a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 10.50% of the company’s stock.

Veeva Systems Price Performance

Shares of Veeva Systems stock opened at $216.67 on Friday. The firm has a market cap of $35.18 billion, a price-to-earnings ratio of 53.50, a P/E/G ratio of 1.91 and a beta of 0.84. The stock has a 50-day simple moving average of $222.68 and a 200-day simple moving average of $209.23. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Canaccord Genuity Group raised their target price on Veeva Systems from $210.00 to $270.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Wells Fargo & Company raised their price objective on shares of Veeva Systems from $275.00 to $285.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Piper Sandler boosted their target price on shares of Veeva Systems from $280.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Morgan Stanley raised their target price on shares of Veeva Systems from $183.00 to $195.00 and gave the stock an “underweight” rating in a report on Tuesday, December 17th. Finally, Mizuho began coverage on Veeva Systems in a report on Wednesday, December 4th. They issued an “outperform” rating and a $275.00 price target on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Veeva Systems presently has an average rating of “Moderate Buy” and an average price target of $255.74.

About Veeva Systems

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.