ExodusPoint Capital Management LP Purchases 114,227 Shares of Veeva Systems Inc. (NYSE:VEEV)

ExodusPoint Capital Management LP boosted its holdings in Veeva Systems Inc. (NYSE:VEEV) by 623.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 132,557 shares of the technology company’s stock after buying an additional 114,227 shares during the quarter. ExodusPoint Capital Management LP owned approximately 0.08% of Veeva Systems worth $27,870,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB raised its stake 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 acquiring an additional 50 shares during the last quarter. Centricity Wealth Management LLC acquired a new stake in Veeva Systems in the fourth quarter valued at $25,000. Smithfield Trust Co raised its position in Veeva Systems by 145.5% during the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock worth $27,000 after purchasing an additional 80 shares during the last quarter. Avion Wealth lifted its holdings in Veeva Systems by 635.0% during the 4th quarter. Avion Wealth now owns 147 shares of the technology company’s stock worth $30,000 after buying an additional 127 shares during the period. Finally, Retirement Wealth Solutions LLC bought a new stake in shares of Veeva Systems in the 4th quarter valued at about $31,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Price Performance

NYSE:VEEV opened at $226.51 on Thursday. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93. The company has a market cap of $36.85 billion, a PE ratio of 55.93, a PEG ratio of 1.89 and a beta of 0.88. The firm has a 50-day moving average of $231.96 and a 200-day moving average of $223.04.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on VEEV. Scotiabank raised their price objective on Veeva Systems from $240.00 to $245.00 and gave the stock a “sector perform” rating in a research report on Thursday, March 6th. JPMorgan Chase & Co. boosted their price target on shares of Veeva Systems from $218.00 to $249.00 and gave the stock a “neutral” rating in a research report on Thursday, March 20th. StockNews.com upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Mizuho assumed coverage on shares of Veeva Systems in a research report on Wednesday, December 4th. They set an “outperform” rating and a $275.00 price target on the stock. Finally, Piper Sandler increased their price target on Veeva Systems from $280.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $256.52.

Insider Buying and Selling at Veeva Systems

In other news, SVP Jonathan Faddis sold 787 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total value of $178,019.40. Following the completion of the sale, the senior vice president now owns 8,668 shares in the company, valued at $1,960,701.60. This represents a 8.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 10.50% of the company’s stock.

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.