Goodman Advisory Group LLC Purchases 3,624 Shares of Veeva Systems Inc. (NYSE:VEEV)

Goodman Advisory Group LLC grew its stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 24.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,289 shares of the technology company's stock after purchasing an additional 3,624 shares during the quarter. Veeva Systems makes up approximately 1.1% of Goodman Advisory Group LLC's investment portfolio, making the stock its 28th largest holding. Goodman Advisory Group LLC's holdings in Veeva Systems were worth $3,838,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Mowery & Schoenfeld Wealth Management LLC bought a new stake in Veeva Systems in the 3rd quarter valued at $26,000. True Wealth Design LLC lifted its holdings in shares of Veeva Systems by 3,375.0% during the third quarter. True Wealth Design LLC now owns 139 shares of the technology company's stock worth $29,000 after buying an additional 135 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Veeva Systems by 3,460.0% during the second quarter. Blue Trust Inc. now owns 178 shares of the technology company's stock worth $33,000 after buying an additional 173 shares in the last quarter. DT Investment Partners LLC bought a new stake in shares of Veeva Systems in the second quarter valued at about $35,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of Veeva Systems in the third quarter valued at about $49,000. Institutional investors and hedge funds own 88.20% of the company's stock.

Insider Activity

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $240.01, for a total transaction of $270,251.26. Following the transaction, the insider now directly owns 27,013 shares in the company, valued at approximately $6,483,390.13. This represents a 4.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jonathan Faddis sold 1,694 shares of the business's stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total transaction of $390,128.20. Following the transaction, the senior vice president now owns 8,061 shares in the company, valued at $1,856,448.30. The trade was a 17.37 % decrease in their position. The disclosure for this sale can be found here. Insiders own 10.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Veeva Systems from $203.00 to $208.00 and gave the stock a "neutral" rating in a research note on Monday, September 9th. Needham & Company LLC lifted their price target on shares of Veeva Systems from $260.00 to $270.00 and gave the company a "buy" rating in a research report on Friday. Robert W. Baird increased their price target on Veeva Systems from $275.00 to $283.00 and gave the stock an "outperform" rating in a research report on Friday. Citigroup raised their price objective on Veeva Systems from $281.00 to $307.00 and gave the stock a "buy" rating in a research note on Monday. Finally, BNP Paribas initiated coverage on Veeva Systems in a research report on Tuesday, October 8th. They set an "outperform" rating and a $286.00 target price for the company. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $255.35.

Veeva Systems Stock Up 0.1 %

Shares of VEEV stock traded up $0.27 during mid-day trading on Tuesday, reaching $246.26. 980,879 shares of the stock traded hands, compared to its average volume of 976,584. The stock's fifty day simple moving average is $219.02 and its two-hundred day simple moving average is $203.12. Veeva Systems Inc. has a 1-year low of $169.98 and a 1-year high of $258.93. The company has a market cap of $39.88 billion, a price-to-earnings ratio of 60.74, a price-to-earnings-growth ratio of 2.43 and a beta of 0.82.

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.