Oak Thistle LLC Grows Position in Veeva Systems Inc. (NYSE:VEEV)

Oak Thistle LLC boosted its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 789.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,093 shares of the technology company's stock after acquiring an additional 10,734 shares during the period. Veeva Systems accounts for about 0.8% of Oak Thistle LLC's holdings, making the stock its 12th biggest position. Oak Thistle LLC's holdings in Veeva Systems were worth $2,543,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of VEEV. Dai ichi Life Insurance Company Ltd raised its position in Veeva Systems by 465.5% in the 2nd quarter. Dai ichi Life Insurance Company Ltd now owns 6,074 shares of the technology company's stock valued at $1,112,000 after buying an additional 5,000 shares during the last quarter. Thoroughbred Financial Services LLC bought a new stake in shares of Veeva Systems in the 2nd quarter worth $258,000. J.W. Cole Advisors Inc. purchased a new stake in shares of Veeva Systems in the second quarter valued at about $221,000. Dimensional Fund Advisors LP lifted its position in shares of Veeva Systems by 26.2% during the second quarter. Dimensional Fund Advisors LP now owns 378,380 shares of the technology company's stock valued at $69,259,000 after purchasing an additional 78,654 shares in the last quarter. Finally, Citizens Financial Group Inc. RI bought a new position in shares of Veeva Systems during the second quarter valued at about $563,000. Institutional investors and hedge funds own 88.20% of the company's stock.

Veeva Systems Stock Up 0.6 %

Shares of NYSE:VEEV traded up $1.17 during midday trading on Wednesday, reaching $212.03. The company's stock had a trading volume of 960,160 shares, compared to its average volume of 1,045,317. The firm has a 50 day moving average of $222.94 and a 200-day moving average of $209.17. Veeva Systems Inc. has a 12-month low of $170.25 and a 12-month high of $258.93. The firm has a market capitalization of $34.42 billion, a P/E ratio of 52.35, a PEG ratio of 2.03 and a beta of 0.84.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on VEEV shares. Needham & Company LLC lifted their price target on shares of Veeva Systems from $260.00 to $270.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Robert W. Baird upped their price target on Veeva Systems from $275.00 to $283.00 and gave the company an "outperform" rating in a research report on Friday, December 6th. Piper Sandler increased their price target on Veeva Systems from $280.00 to $290.00 and gave the stock an "overweight" rating in a research note on Friday, December 6th. Mizuho began coverage on Veeva Systems in a research note on Wednesday, December 4th. They issued an "outperform" rating and a $275.00 price objective on the stock. Finally, JPMorgan Chase & Co. increased their target price on shares of Veeva Systems from $208.00 to $218.00 and gave the stock a "neutral" rating in a research report on Monday, December 16th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, Veeva Systems presently has an average rating of "Moderate Buy" and an average target price of $255.74.

Insider Activity at Veeva Systems

In related news, insider Thomas D. Schwenger sold 1,126 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $240.01, for a total transaction of $270,251.26. Following the transaction, the insider now owns 27,013 shares in the company, valued at $6,483,390.13. This represents a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jonathan Faddis sold 1,694 shares of the stock in a transaction on Wednesday, December 4th. The shares were 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 in the company, valued at $1,856,448.30. The trade was a 17.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.50% of the stock is currently owned by insiders.

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.