Teachers Retirement System of The State of Kentucky bought a new position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 26,820 shares of the technology company's stock, valued at approximately $5,629,000.
A number of other large investors have also modified their holdings of the business. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of Veeva Systems during the 3rd quarter valued at about $26,000. True Wealth Design LLC grew its stake in shares of Veeva Systems by 3,375.0% in the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company's stock valued at $29,000 after buying an additional 135 shares during the period. Blue Trust Inc. increased its holdings in shares of Veeva Systems by 3,460.0% during the 2nd quarter. Blue Trust Inc. now owns 178 shares of the technology company's stock worth $33,000 after buying an additional 173 shares during the last quarter. DT Investment Partners LLC purchased a new stake in shares of Veeva Systems during the 2nd quarter valued at approximately $35,000. Finally, Fairscale Capital LLC acquired a new position in Veeva Systems in the second quarter valued at approximately $46,000. Hedge funds and other institutional investors own 88.20% of the company's stock.
Veeva Systems Stock Down 1.6 %
Veeva Systems stock traded down $3.70 during midday trading on Friday, reaching $228.78. The company's stock had a trading volume of 808,430 shares, compared to its average volume of 983,160. The company has a market cap of $37.05 billion, a P/E ratio of 57.40, a P/E/G ratio of 2.07 and a beta of 0.82. The business has a 50-day simple moving average of $220.87 and a 200-day simple moving average of $203.83. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93.
Insider Activity at Veeva Systems
In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of the business's stock in a transaction that occurred on Friday, November 8th. The stock was 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 owns 27,013 shares in the company, valued at approximately $6,483,390.13. The trade was a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jonathan Faddis sold 1,694 shares of the firm'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 transaction of $390,128.20. Following the transaction, the senior vice president now owns 8,061 shares in the company, valued at approximately $1,856,448.30. This trade represents 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 corporate insiders.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on VEEV shares. Barclays raised their target price on Veeva Systems from $260.00 to $275.00 and gave the stock an "overweight" rating in a research note on Friday, December 6th. JPMorgan Chase & Co. boosted their price objective on shares of Veeva Systems from $203.00 to $208.00 and gave the company a "neutral" rating in a report on Monday, September 9th. Needham & Company LLC increased their target price on shares of Veeva Systems from $260.00 to $270.00 and gave the stock a "buy" rating in a research note on Friday, December 6th. Scotiabank boosted their price target on shares of Veeva Systems from $235.00 to $240.00 and gave the company a "sector perform" rating in a research note on Friday, December 6th. Finally, Canaccord Genuity Group increased their price objective on shares of Veeva Systems from $210.00 to $270.00 and gave the stock a "hold" rating in a research report on Friday, December 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $255.35.
Check Out Our Latest Analysis on Veeva Systems
About Veeva Systems
(
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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