Veeva Systems Inc. (NYSE:VEEV) Stake Boosted by Peloton Wealth Strategists

Peloton Wealth Strategists boosted its stake in Veeva Systems Inc. (NYSE:VEEV) by 14.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,498 shares of the technology company’s stock after buying an additional 933 shares during the period. Peloton Wealth Strategists’ holdings in Veeva Systems were worth $1,576,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Linscomb Wealth Inc. increased its holdings in shares of Veeva Systems by 6.0% during the fourth quarter. Linscomb Wealth Inc. now owns 11,377 shares of the technology company’s stock valued at $2,392,000 after purchasing an additional 644 shares during the period. QRG Capital Management Inc. increased its holdings in shares of Veeva Systems by 4.2% during the fourth quarter. QRG Capital Management Inc. now owns 10,402 shares of the technology company’s stock valued at $2,187,000 after purchasing an additional 415 shares during the period. Versor Investments LP increased its holdings in shares of Veeva Systems by 149.3% during the fourth quarter. Versor Investments LP now owns 6,484 shares of the technology company’s stock valued at $1,363,000 after purchasing an additional 3,883 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of Veeva Systems during the fourth quarter valued at $22,545,000. Finally, Oppenheimer & Co. Inc. increased its holdings in shares of Veeva Systems by 323.7% during the fourth quarter. Oppenheimer & Co. Inc. now owns 17,674 shares of the technology company’s stock valued at $3,716,000 after purchasing an additional 13,503 shares during the period. 88.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on VEEV shares. Canaccord Genuity Group raised their price target on Veeva Systems from $210.00 to $270.00 and gave the company a “hold” rating in a report on Friday, December 6th. Stephens started coverage on Veeva Systems in a report on Friday, December 20th. They set an “overweight” rating and a $280.00 target price on the stock. The Goldman Sachs Group lowered Veeva Systems from a “buy” rating to a “sell” rating and lowered their target price for the stock from $261.00 to $200.00 in a report on Thursday, January 23rd. Truist Financial lowered their target price on Veeva Systems from $261.00 to $210.00 and set a “hold” rating on the stock in a report on Monday, January 13th. Finally, Stifel Nicolaus lifted their target price on Veeva Systems from $240.00 to $272.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $255.08.

Insider Buying and Selling at Veeva Systems

In related news, 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 completion of the sale, the senior vice president now owns 8,061 shares of the company’s stock, valued at approximately $1,856,448.30. The trade was a 17.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 10.50% of the company’s stock.

Veeva Systems Price Performance

NYSE:VEEV opened at $221.28 on Friday. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93. The stock’s 50-day moving average is $223.85 and its two-hundred day moving average is $218.48. The stock has a market cap of $35.93 billion, a PE ratio of 54.64, a price-to-earnings-growth ratio of 1.89 and a beta of 0.85.

Veeva Systems 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.