Veeva Systems Inc. (NYSE:VEEV) Shares Acquired by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp grew its holdings in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 5.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 70,147 shares of the technology company's stock after acquiring an additional 3,741 shares during the period. Peapack Gladstone Financial Corp's holdings in Veeva Systems were worth $14,721,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Veeva Systems in the third quarter valued at approximately $26,000. True Wealth Design LLC grew its holdings in Veeva Systems by 3,375.0% during the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company's stock valued at $29,000 after purchasing an additional 135 shares in the last quarter. Blue Trust Inc. grew its holdings in Veeva Systems by 3,460.0% during the 2nd quarter. Blue Trust Inc. now owns 178 shares of the technology company's stock valued at $33,000 after purchasing an additional 173 shares in the last quarter. DT Investment Partners LLC purchased a new stake in Veeva Systems during the 2nd quarter worth $35,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in Veeva Systems in the 3rd quarter worth $49,000. Institutional investors and hedge funds own 88.20% of the company's stock.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on VEEV. Piper Sandler lifted their target price on Veeva Systems from $280.00 to $290.00 and gave the stock an "overweight" rating in a research report on Friday, December 6th. Royal Bank of Canada lifted their price objective on Veeva Systems from $275.00 to $285.00 and gave the stock an "outperform" rating in a report on Friday, December 6th. UBS Group increased their target price on Veeva Systems from $185.00 to $215.00 and gave the company a "neutral" rating in a research note on Monday, August 26th. Wells Fargo & Company raised their price target on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an "overweight" rating in a research report on Friday, December 6th. Finally, Robert W. Baird upped their price target on shares of Veeva Systems from $275.00 to $283.00 and gave the company an "outperform" rating in a report on Friday, December 6th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, Veeva Systems currently has an average rating of "Moderate Buy" and an average price target of $255.35.

Veeva Systems Stock Performance

Shares of NYSE:VEEV traded down $3.70 during trading hours on Friday, hitting $228.78. The stock had a trading volume of 814,087 shares, compared to its average volume of 983,160. The stock's fifty day simple moving average is $221.36 and its 200 day simple moving average is $204.00. The firm has a market capitalization of $37.05 billion, a price-to-earnings ratio of 56.49, a PEG ratio of 2.07 and a beta of 0.82. Veeva Systems Inc. has a 1-year low of $170.25 and a 1-year high of $258.93.

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.