Fortis Capital Advisors LLC Buys 3,605 Shares of Veeva Systems Inc. (NYSE:VEEV)

Fortis Capital Advisors LLC grew its stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 99.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,212 shares of the technology company's stock after buying an additional 3,605 shares during the period. Fortis Capital Advisors LLC's holdings in Veeva Systems were worth $1,561,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. MassMutual Private Wealth & Trust FSB boosted its stake in Veeva Systems by 72.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company's stock worth $25,000 after buying an additional 50 shares during the last quarter. Centricity Wealth Management LLC purchased a new stake in shares of Veeva Systems in the fourth quarter worth about $25,000. Smithfield Trust Co grew its stake in shares of Veeva Systems by 145.5% in the fourth quarter. Smithfield Trust Co now owns 135 shares of the technology company's stock valued at $27,000 after buying an additional 80 shares in the last quarter. Avion Wealth raised its holdings in shares of Veeva Systems by 635.0% during the 4th quarter. Avion Wealth now owns 147 shares of the technology company's stock valued at $30,000 after buying an additional 127 shares during the period. Finally, Retirement Wealth Solutions LLC acquired a new stake in Veeva Systems in the fourth quarter valued at approximately $31,000. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Scotiabank lifted their target price on Veeva Systems from $240.00 to $245.00 and gave the stock a "sector perform" rating in a research report on Thursday, March 6th. StockNews.com upgraded shares of Veeva Systems from a "hold" rating to a "buy" rating in a research note on Monday, February 17th. Stephens reissued an "overweight" rating and issued a $280.00 price target on shares of Veeva Systems in a report on Thursday, March 6th. Morgan Stanley lifted their price objective on shares of Veeva Systems from $195.00 to $201.00 and gave the company an "underweight" rating in a research report on Thursday, March 6th. Finally, Needham & Company LLC reissued a "buy" rating and set a $270.00 target price on shares of Veeva Systems in a research note on Thursday, March 6th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $256.32.

Veeva Systems Stock Down 1.5 %

Shares of Veeva Systems stock traded down $3.27 on Thursday, hitting $217.39. The stock had a trading volume of 590,574 shares, compared to its average volume of 1,061,489. The business's 50 day moving average is $228.12 and its two-hundred day moving average is $223.25. The stock has a market cap of $35.37 billion, a price-to-earnings ratio of 53.69, a price-to-earnings-growth ratio of 1.89 and a beta of 1.05. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,200 shares of the firm's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $220.97, for a total transaction of $265,164.00. Following the completion of the transaction, the insider now owns 25,889 shares in the company, valued at approximately $5,720,692.33. This trade represents a 4.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Timothy S. Cabral sold 3,882 shares of the business's stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $216.83, for a total value 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 represents a 41.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,869 shares of company stock valued at $1,284,917 in the last three months. Corporate insiders own 10.50% of the company's stock.

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.