Woodline Partners LP bought a new stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 80,573 shares of the technology company's stock, valued at approximately $16,940,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB increased its stake in shares of Veeva Systems by 72.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company's stock valued at $25,000 after acquiring an additional 50 shares during the last quarter. Centricity Wealth Management LLC bought a new position in Veeva Systems during the fourth quarter worth $25,000. Smithfield Trust Co increased its position in Veeva Systems by 145.5% in the fourth quarter. Smithfield Trust Co now owns 135 shares of the technology company's stock worth $27,000 after buying an additional 80 shares during the period. Avion Wealth increased its holdings 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 grew its holdings in Veeva Systems by 2,716.7% during the fourth quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company's stock worth $36,000 after acquiring an additional 163 shares during the period. 88.20% of the stock is currently owned by hedge funds and other institutional investors.
Veeva Systems Stock Up 2.3%
Shares of Veeva Systems stock traded up $5.29 during trading hours on Tuesday, reaching $238.29. 347,965 shares of the stock traded hands, compared to its average volume of 1,206,222. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93. The firm has a market capitalization of $38.77 billion, a price-to-earnings ratio of 58.84, a P/E/G ratio of 1.89 and a beta of 0.96. The company has a 50 day moving average price of $228.88 and a 200 day moving average price of $227.14.
Wall Street Analysts Forecast Growth
VEEV has been the subject of a number of recent analyst reports. Piper Sandler decreased their price target on Veeva Systems from $290.00 to $255.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Stephens reiterated an "overweight" rating and set a $280.00 price target on shares of Veeva Systems in a report on Thursday, March 6th. Wall Street Zen raised Veeva Systems from a "hold" rating to a "buy" rating in a research note on Monday, February 17th. Scotiabank raised their price objective on Veeva Systems from $240.00 to $245.00 and gave the company a "sector perform" rating in a research note on Thursday, March 6th. Finally, Robert W. Baird lifted their price target on Veeva Systems from $283.00 to $285.00 and gave the stock an "outperform" rating in a research report on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $254.92.
View Our Latest Analysis on VEEV
Insiders Place Their Bets
In other news, Director Timothy S. Cabral sold 3,882 shares of the 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 transaction, the director now owns 5,500 shares of the company's stock, valued at approximately $1,192,565. This represents a 41.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas D. Schwenger sold 1,200 shares of the firm's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $220.97, for a total value of $265,164.00. Following the sale, the insider now directly owns 25,889 shares in the company, valued at approximately $5,720,692.33. The trade was a 4.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,869 shares of company stock valued at $1,284,917 in the last quarter. 10.30% of the stock is currently owned by insiders.
Veeva Systems Company Profile
(
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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