GKV Capital Management Co. Inc. Invests $526,000 in Veeva Systems Inc. (NYSE:VEEV)

GKV Capital Management Co. Inc. purchased a new position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,500 shares of the technology company's stock, valued at approximately $526,000.

Several other hedge funds have also recently added to or reduced their stakes in VEEV. MassMutual Private Wealth & Trust FSB increased its holdings in Veeva Systems by 72.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company's stock valued at $25,000 after buying an additional 50 shares during the last quarter. Centricity Wealth Management LLC acquired a new stake in shares of Veeva Systems during the 4th quarter worth about $25,000. Smithfield Trust Co lifted its stake in Veeva Systems by 145.5% during the fourth quarter. Smithfield Trust Co now owns 135 shares of the technology company's stock worth $27,000 after purchasing an additional 80 shares during the last quarter. Avion Wealth boosted its holdings in Veeva Systems by 635.0% in 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 in the last quarter. Finally, Retirement Wealth Solutions LLC purchased a new position in Veeva Systems in the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 88.20% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Robert W. Baird upped their price objective on shares of Veeva Systems from $283.00 to $285.00 and gave the company an "outperform" rating in a research note on Thursday, March 6th. Needham & Company LLC reaffirmed a "buy" rating and set a $270.00 price target on shares of Veeva Systems in a research report on Thursday, March 6th. Scotiabank increased their price objective on Veeva Systems from $240.00 to $245.00 and gave the company a "sector perform" rating in a report on Thursday, March 6th. StockNews.com upgraded shares of Veeva Systems from a "hold" rating to a "buy" rating in a research report on Monday, February 17th. Finally, KeyCorp dropped their price objective on shares of Veeva Systems from $260.00 to $250.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Two 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 data from MarketBeat.com, Veeva Systems presently has a consensus rating of "Moderate Buy" and an average price target of $256.32.

Veeva Systems Stock Performance

Shares of Veeva Systems stock traded up $4.92 during trading on Tuesday, reaching $215.00. The company had a trading volume of 337,258 shares, compared to its average volume of 1,230,430. The firm's fifty day moving average is $226.85 and its 200-day moving average is $223.63. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93. The company has a market cap of $34.98 billion, a price-to-earnings ratio of 53.09, a price-to-earnings-growth ratio of 1.89 and a beta of 1.05.

Insider Activity at Veeva Systems

In related news, Director Timothy S. Cabral sold 3,882 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $216.83, for a total value of $841,734.06. Following the sale, the director now owns 5,500 shares of the company's stock, valued at approximately $1,192,565. This trade represents a 41.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Jonathan Faddis sold 787 shares of the company's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total transaction of $178,019.40. Following the transaction, the senior vice president now owns 8,668 shares of the company's stock, valued at $1,960,701.60. This represents a 8.32 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,869 shares of company stock valued at $1,284,917. Corporate insiders own 10.50% of the company's stock.

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.