Veeva Systems Inc. (NYSE:VEEV) Position Increased by Versor Investments LP

Versor Investments LP grew its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 149.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 6,484 shares of the technology company’s stock after acquiring an additional 3,883 shares during the period. Versor Investments LP’s holdings in Veeva Systems were worth $1,363,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of VEEV. Cardinal Capital Management lifted its holdings in shares of Veeva Systems by 0.3% during the fourth quarter. Cardinal Capital Management now owns 15,727 shares of the technology company’s stock valued at $3,307,000 after purchasing an additional 44 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its position in Veeva Systems by 1.2% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,307 shares of the technology company’s stock worth $904,000 after purchasing an additional 50 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in Veeva Systems by 72.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock valued at $25,000 after purchasing an additional 50 shares during the period. Patriot Financial Group Insurance Agency LLC grew its holdings in shares of Veeva Systems by 0.7% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 6,975 shares of the technology company’s stock valued at $1,467,000 after buying an additional 51 shares in the last quarter. Finally, CHICAGO TRUST Co NA raised its position in Veeva Systems by 2.9% during the fourth quarter. CHICAGO TRUST Co NA now owns 1,880 shares of the technology company’s stock valued at $395,000 after buying an additional 53 shares during the period. 88.20% of the stock is owned by institutional investors.

Insider Transactions at Veeva Systems

In related news, SVP Jonathan Faddis sold 1,694 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total value of $390,128.20. Following the completion of the sale, the senior vice president now directly owns 8,061 shares in the company, valued at approximately $1,856,448.30. This trade represents a 17.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 10.50% of the stock is currently owned by insiders.

Veeva Systems Stock Performance

NYSE VEEV opened at $227.64 on Thursday. The stock has a market capitalization of $36.96 billion, a price-to-earnings ratio of 56.21, a PEG ratio of 1.89 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. The stock’s 50 day moving average price is $223.82 and its two-hundred day moving average price is $218.46.

Wall Street Analyst Weigh In

VEEV has been the subject of a number of research reports. Piper Sandler raised their price objective on Veeva Systems from $280.00 to $290.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. The Goldman Sachs Group cut Veeva Systems from a “buy” rating to a “sell” rating and reduced their price objective for the company from $261.00 to $200.00 in a research report on Thursday, January 23rd. Robert W. Baird upped their target price on Veeva Systems from $275.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Morgan Stanley lifted their price target on Veeva Systems from $183.00 to $195.00 and gave the company an “underweight” rating in a report on Tuesday, December 17th. Finally, Truist Financial cut their price objective on shares of Veeva Systems from $261.00 to $210.00 and set a “hold” rating on the stock in a research report on Monday, January 13th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $255.08.

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.