Veeva Systems Inc. (NYSE:VEEV) Stake Boosted by Van ECK Associates Corp

Van ECK Associates Corp increased its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 6.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 2,130,498 shares of the technology company’s stock after buying an additional 135,492 shares during the quarter. Van ECK Associates Corp’s holdings in Veeva Systems were worth $447,937,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Brookstone Capital Management acquired a new stake in shares of Veeva Systems during the 3rd quarter valued at about $203,000. CWM LLC lifted its stake in Veeva Systems by 61.3% in the third quarter. CWM LLC now owns 6,770 shares of the technology company’s stock valued at $1,421,000 after acquiring an additional 2,574 shares during the last quarter. Procyon Advisors LLC acquired a new stake in Veeva Systems in the third quarter valued at approximately $712,000. NBC Securities Inc. grew its position in Veeva Systems by 8.4% in the third quarter. NBC Securities Inc. now owns 1,347 shares of the technology company’s stock worth $282,000 after acquiring an additional 104 shares in the last quarter. Finally, Vontobel Holding Ltd. raised its holdings in shares of Veeva Systems by 6.1% during the 3rd quarter. Vontobel Holding Ltd. now owns 23,829 shares of the technology company’s stock valued at $5,001,000 after purchasing an additional 1,380 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Stock Performance

Shares of VEEV stock opened at $233.26 on Thursday. The firm has a fifty day moving average of $224.84 and a 200-day moving average of $215.41. The stock has a market cap of $37.87 billion, a price-to-earnings ratio of 57.60, a P/E/G ratio of 1.97 and a beta of 0.85. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on VEEV. Scotiabank upped their price objective on shares of Veeva Systems from $235.00 to $240.00 and gave the stock a “sector perform” rating in a report on Friday, December 6th. Piper Sandler upped 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. Truist Financial cut their price objective on Veeva Systems from $261.00 to $210.00 and set a “hold” rating on the stock in a research note on Monday, January 13th. Evercore ISI upped their target price on Veeva Systems from $220.00 to $245.00 and gave the stock an “in-line” rating in a research report on Friday, December 6th. Finally, Robert W. Baird lifted their price target on shares of Veeva Systems from $275.00 to $283.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $253.96.

Insider Activity at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $1,856,448.30. This represents a 17.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.