Inspire Investing LLC Grows Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Inspire Investing LLC raised its position in Veeva Systems Inc. (NYSE:VEEV) by 18.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 19,435 shares of the technology company’s stock after purchasing an additional 2,985 shares during the quarter. Inspire Investing LLC’s holdings in Veeva Systems were worth $4,086,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB increased its position in shares of Veeva Systems by 72.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock valued at $25,000 after buying an additional 50 shares during the period. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Veeva Systems during the third quarter valued at about $26,000. True Wealth Design LLC increased its position in shares of Veeva Systems by 3,375.0% during the third 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. Retirement Wealth Solutions LLC purchased a new position in shares of Veeva Systems during the fourth quarter valued at about $31,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Veeva Systems during the third quarter valued at about $49,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Analyst Ratings Changes

VEEV has been the topic of several research reports. Evercore ISI boosted their price objective on shares of Veeva Systems from $220.00 to $245.00 and gave the stock an “in-line” rating in a research note on Friday, December 6th. Royal Bank of Canada boosted their price objective on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. KeyCorp dropped their price objective on shares of Veeva Systems from $285.00 to $255.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. BNP Paribas initiated coverage on shares of Veeva Systems in a research note on Tuesday, October 8th. They set an “outperform” rating and a $286.00 price objective on the stock. Finally, Needham & Company LLC reissued a “buy” rating and set a $270.00 price objective on shares of Veeva Systems in a research note on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, Veeva Systems has a consensus rating of “Moderate Buy” and a consensus target price of $253.96.

Veeva Systems Trading Up 2.7 %

Shares of NYSE VEEV opened at $229.05 on Thursday. Veeva Systems Inc. has a 12 month low of $170.25 and a 12 month high of $258.93. The company has a 50 day simple moving average of $221.55 and a two-hundred day simple moving average of $210.52. The stock has a market cap of $37.19 billion, a price-to-earnings ratio of 56.56, a PEG ratio of 1.96 and a beta of 0.84.

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 on 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thomas D. Schwenger sold 1,126 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $240.01, for a total transaction of $270,251.26. Following the completion of the sale, the insider now directly owns 27,013 shares of the company’s stock, valued at approximately $6,483,390.13. The trade was a 4.00 % decrease in their position. The disclosure for this sale can be found here. Company 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.