Susquehanna Fundamental Investments LLC Makes New $25.80 Million Investment in Veeva Systems Inc. (NYSE:VEEV)

Susquehanna Fundamental Investments LLC bought a new stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 122,719 shares of the technology company's stock, valued at approximately $25,802,000. Susquehanna Fundamental Investments LLC owned approximately 0.08% of Veeva Systems as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB boosted its stake 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 acquiring an additional 50 shares in the last quarter. Centricity Wealth Management LLC acquired a new position in Veeva Systems in the fourth quarter valued at $25,000. Smithfield Trust Co boosted its stake in Veeva Systems by 145.5% in the fourth quarter. Smithfield Trust Co now owns 135 shares of the technology company's stock valued at $27,000 after acquiring an additional 80 shares in the last quarter. Avion Wealth boosted its stake 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 acquiring an additional 127 shares in the last quarter. Finally, Retirement Wealth Solutions LLC acquired a new position in Veeva Systems in the fourth quarter valued at $31,000. Institutional investors and hedge funds own 88.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on VEEV. Stephens restated an "overweight" rating and issued a $280.00 price objective on shares of Veeva Systems in a research note on Thursday, March 6th. Needham & Company LLC reiterated a "buy" rating and set a $270.00 target price on shares of Veeva Systems in a research note on Thursday, March 6th. Scotiabank increased their target price on shares of Veeva Systems from $240.00 to $245.00 and gave the stock a "sector perform" rating in a research note on Thursday, March 6th. Truist Financial increased their target price on shares of Veeva Systems from $210.00 to $217.00 and gave the stock a "hold" rating in a research note on Thursday, March 6th. Finally, Robert W. Baird increased their target price on shares of Veeva Systems from $283.00 to $285.00 and gave the stock an "outperform" rating in a research note on Thursday, March 6th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat, Veeva Systems currently has an average rating of "Moderate Buy" and an average price target of $254.92.

Veeva Systems Stock Down 0.8 %

Shares of VEEV traded down $1.92 during mid-day trading on Monday, reaching $225.62. 1,122,036 shares of the company's stock were exchanged, compared to its average volume of 1,073,585. The company has a 50-day simple moving average of $225.90 and a two-hundred day simple moving average of $224.20. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93. The company has a market cap of $36.71 billion, a price-to-earnings ratio of 55.71, a PEG ratio of 1.89 and a beta of 1.05.

Insider Transactions 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 shares were sold at an average price of $216.83, for a total transaction of $841,734.06. Following the sale, the director now owns 5,500 shares in the company, valued at approximately $1,192,565. This trade represents a 41.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thomas D. Schwenger sold 1,200 shares of the firm's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $220.97, for a total transaction of $265,164.00. Following the sale, the insider now owns 25,889 shares in the company, valued at approximately $5,720,692.33. This trade represents a 4.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,869 shares of company stock valued at $1,284,917 in the last ninety days. Corporate insiders own 10.50% of the company's stock.

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.