Peloton Wealth Strategists Purchases 933 Shares of Veeva Systems Inc. (NYSE:VEEV)

Peloton Wealth Strategists lifted its position in Veeva Systems Inc. (NYSE:VEEV) by 14.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 7,498 shares of the technology company’s stock after buying an additional 933 shares during the quarter. Peloton Wealth Strategists’ holdings in Veeva Systems were worth $1,576,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. General American Investors Co. Inc. bought a new stake in shares of Veeva Systems in the 3rd quarter valued at approximately $5,133,000. Toronto Dominion Bank lifted its holdings in Veeva Systems by 39.1% in the 3rd quarter. Toronto Dominion Bank now owns 20,180 shares of the technology company’s stock worth $4,235,000 after purchasing an additional 5,673 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Veeva Systems by 138.9% in the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock worth $457,366,000 after purchasing an additional 1,267,061 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in Veeva Systems by 3.6% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 78,000 shares of the technology company’s stock worth $16,370,000 after purchasing an additional 2,733 shares during the last quarter. Finally, Assetmark Inc. lifted its holdings in Veeva Systems by 46.4% in the 3rd quarter. Assetmark Inc. now owns 48,205 shares of the technology company’s stock worth $10,117,000 after purchasing an additional 15,289 shares during the last quarter. Institutional investors own 88.20% of the company’s stock.

Insider Activity at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total value of $390,128.20. Following the sale, the senior vice president now directly owns 8,061 shares in the company, valued at $1,856,448.30. This represents a 17.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 10.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Piper Sandler boosted their target price on Veeva Systems from $280.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Scotiabank boosted their target price on Veeva Systems from $235.00 to $240.00 and gave the stock a “sector perform” rating in a report on Friday, December 6th. Wells Fargo & Company boosted their target price on Veeva Systems from $275.00 to $285.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Mizuho began coverage on Veeva Systems in a report on Wednesday, December 4th. They issued an “outperform” rating and a $275.00 target price for the company. Finally, Stifel Nicolaus upped their price target on Veeva Systems from $240.00 to $272.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $255.08.

Veeva Systems Trading Down 2.6 %

Shares of NYSE VEEV opened at $221.28 on Friday. The business has a fifty day simple moving average of $223.85 and a 200 day simple moving average of $218.48. The firm has a market capitalization of $35.93 billion, a price-to-earnings ratio of 54.64, a PEG ratio of 1.89 and a beta of 0.85. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93.

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 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.