Peloton Wealth Strategists Has $1.38 Million Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Peloton Wealth Strategists lifted its stake in Veeva Systems Inc. (NYSE:VEEV) by 19.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,565 shares of the technology company’s stock after acquiring an additional 1,070 shares during the quarter. Peloton Wealth Strategists’ holdings in Veeva Systems were worth $1,378,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. General American Investors Co. Inc. bought a new position in Veeva Systems in the 3rd quarter valued at about $5,133,000. Procyon Advisors LLC acquired a new stake in shares of Veeva Systems during the third quarter valued at about $712,000. Envestnet Portfolio Solutions Inc. grew its holdings in Veeva Systems by 44.9% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 29,782 shares of the technology company’s stock worth $5,450,000 after acquiring an additional 9,232 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Veeva Systems by 138.9% in the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock valued at $457,366,000 after buying an additional 1,267,061 shares during the period. Finally, Oppenheimer Asset Management Inc. boosted its stake in shares of Veeva Systems by 3.6% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 78,000 shares of the technology company’s stock valued at $16,370,000 after purchasing an additional 2,733 shares during the last quarter. Institutional investors own 88.20% of the company’s stock.

Insider Buying and Selling at Veeva Systems

In other news, insider Thomas D. Schwenger sold 1,126 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.01, for a total value of $270,251.26. Following the transaction, the insider now 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jonathan Faddis sold 1,694 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 8,061 shares of the company’s stock, valued at $1,856,448.30. This represents a 17.37 % decrease in their position. The disclosure for this sale can be found here. Insiders own 10.50% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on VEEV shares. Piper Sandler boosted their price objective on Veeva Systems from $280.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday. JPMorgan Chase & Co. raised their price objective on Veeva Systems from $203.00 to $208.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. UBS Group upped their price target on Veeva Systems from $185.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. Needham & Company LLC lifted their price target on shares of Veeva Systems from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Friday. Finally, Barclays increased their price target on shares of Veeva Systems from $260.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $254.04.

Veeva Systems Stock Performance

VEEV opened at $250.45 on Monday. The stock has a market cap of $40.56 billion, a price-to-earnings ratio of 61.84, a price-to-earnings-growth ratio of 2.43 and a beta of 0.82. The firm’s fifty day moving average is $218.29 and its 200 day moving average is $202.83. Veeva Systems Inc. has a fifty-two week low of $165.12 and a fifty-two week high of $258.93.

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.