Lecap Asset Management Ltd. cut its holdings in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 32.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 15,250 shares of the technology company's stock after selling 7,410 shares during the period. Veeva Systems comprises approximately 0.9% of Lecap Asset Management Ltd.'s holdings, making the stock its 14th biggest position. Lecap Asset Management Ltd.'s holdings in Veeva Systems were worth $3,206,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of VEEV. Sanctuary Advisors LLC bought a new stake in Veeva Systems in the 2nd quarter valued at about $1,231,000. SG Americas Securities LLC raised its holdings in shares of Veeva Systems by 667.4% during the third quarter. SG Americas Securities LLC now owns 5,594 shares of the technology company's stock valued at $1,174,000 after buying an additional 4,865 shares during the last quarter. GAMMA Investing LLC grew its holdings in Veeva Systems by 13.1% in the 3rd quarter. GAMMA Investing LLC now owns 977 shares of the technology company's stock worth $205,000 after buying an additional 113 shares in the last quarter. Atomi Financial Group Inc. increased its position in Veeva Systems by 23.9% in the 3rd quarter. Atomi Financial Group Inc. now owns 3,716 shares of the technology company's stock valued at $780,000 after acquiring an additional 717 shares during the period. Finally, Brookstone Capital Management bought a new stake in Veeva Systems during the 3rd quarter valued at $203,000. Institutional investors own 88.20% of the company's stock.
Wall Street Analyst Weigh In
VEEV has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Veeva Systems from $208.00 to $218.00 and gave the company a "neutral" rating in a research note on Monday, December 16th. Needham & Company LLC reissued a "buy" rating and set a $270.00 target price on shares of Veeva Systems in a report on Friday, January 17th. Morgan Stanley lifted their price target on Veeva Systems from $183.00 to $195.00 and gave the company an "underweight" rating in a research report on Tuesday, December 17th. Piper Sandler upped their price objective on Veeva Systems from $280.00 to $290.00 and gave the company an "overweight" rating in a report on Friday, December 6th. Finally, Evercore ISI boosted their price target on shares of Veeva Systems from $220.00 to $245.00 and gave the stock an "in-line" rating in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, Veeva Systems currently has an average rating of "Moderate Buy" and a consensus price target of $253.96.
View Our Latest Analysis on Veeva Systems
Insider Buying and Selling at Veeva Systems
In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of Veeva Systems stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total value of $390,128.20. Following the transaction, the senior vice president now directly owns 8,061 shares of the company's stock, valued at $1,856,448.30. The trade was a 17.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 10.50% of the company's stock.
Veeva Systems Price Performance
NYSE:VEEV traded down $2.66 during trading hours on Tuesday, reaching $235.15. The company's stock had a trading volume of 531,665 shares, compared to its average volume of 993,838. The company has a market cap of $38.18 billion, a price-to-earnings ratio of 58.05, a price-to-earnings-growth ratio of 1.97 and a beta of 0.85. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93. The business's 50-day moving average is $224.68 and its 200-day moving average is $215.12.
Veeva Systems Profile
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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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