Sphera Management Technology Funds Ltd acquired a new stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,000 shares of the technology company's stock, valued at approximately $631,000.
Other institutional investors have also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Veeva Systems by 72.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company's stock valued at $25,000 after purchasing an additional 50 shares during the period. Centricity Wealth Management LLC purchased a new stake in shares of Veeva Systems during the fourth quarter valued at approximately $25,000. Smithfield Trust Co boosted its stake in shares of Veeva Systems by 145.5% during the fourth quarter. Smithfield Trust Co now owns 135 shares of the technology company's stock valued at $27,000 after purchasing an additional 80 shares during the period. Avion Wealth boosted its stake in shares of Veeva Systems by 635.0% during the fourth quarter. Avion Wealth now owns 147 shares of the technology company's stock valued at $30,000 after purchasing an additional 127 shares during the period. Finally, Venturi Wealth Management LLC boosted its stake in shares of Veeva Systems by 2,716.7% during the fourth quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company's stock valued at $36,000 after purchasing an additional 163 shares during the period. Hedge funds and other institutional investors own 88.20% of the company's stock.
Insider Buying and Selling at Veeva Systems
In other news, Director Timothy S. Cabral sold 3,882 shares of the firm's stock in a transaction on Friday, April 4th. The stock was sold at an average price of $216.83, for a total transaction of $841,734.06. Following the completion of the transaction, the director now directly owns 5,500 shares in the company, valued at $1,192,565. This trade represents a 41.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas D. Schwenger sold 1,200 shares of the firm's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $220.97, for a total value of $265,164.00. Following the transaction, the insider now owns 25,889 shares of the company's stock, valued at $5,720,692.33. The trade was a 4.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,869 shares of company stock valued at $1,284,917. 10.30% of the stock is currently owned by company insiders.
Veeva Systems Trading Down 0.9%
Veeva Systems stock traded down $2.12 on Friday, hitting $233.41. 858,455 shares of the stock traded hands, compared to its average volume of 1,112,430. The firm has a market cap of $37.97 billion, a P/E ratio of 57.63, a price-to-earnings-growth ratio of 1.89 and a beta of 0.96. The business's fifty day simple moving average is $228.95 and its 200 day simple moving average is $227.05. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on VEEV. Stephens reissued an "overweight" rating and set a $280.00 price objective on shares of Veeva Systems in a research note on Thursday, March 6th. Robert W. Baird raised their price target on Veeva Systems from $283.00 to $285.00 and gave the stock an "outperform" rating in a research note on Thursday, March 6th. Morgan Stanley raised their price target on Veeva Systems from $195.00 to $201.00 and gave the stock an "underweight" rating in a research note on Thursday, March 6th. JPMorgan Chase & Co. raised their price target on Veeva Systems from $218.00 to $249.00 and gave the stock a "neutral" rating in a research note on Thursday, March 20th. Finally, Piper Sandler dropped their price target on Veeva Systems from $290.00 to $255.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $254.92.
Check Out Our Latest Report on Veeva Systems
About Veeva Systems
(
Free Report)
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.
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