QRG Capital Management Inc. Purchases 415 Shares of Veeva Systems Inc. (NYSE:VEEV)

QRG Capital Management Inc. grew its stake in Veeva Systems Inc. (NYSE:VEEV) by 4.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,402 shares of the technology company’s stock after acquiring an additional 415 shares during the period. QRG Capital Management Inc.’s holdings in Veeva Systems were worth $2,187,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Versor Investments LP grew its holdings in shares of Veeva Systems by 149.3% in the 4th quarter. Versor Investments LP now owns 6,484 shares of the technology company’s stock valued at $1,363,000 after acquiring an additional 3,883 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of Veeva Systems in the 4th quarter valued at about $22,545,000. Oppenheimer & Co. Inc. grew its holdings in shares of Veeva Systems by 323.7% in the 4th quarter. Oppenheimer & Co. Inc. now owns 17,674 shares of the technology company’s stock valued at $3,716,000 after acquiring an additional 13,503 shares in the last quarter. Mn Services Vermogensbeheer B.V. grew its holdings in shares of Veeva Systems by 1.7% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 59,600 shares of the technology company’s stock valued at $12,531,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Whipplewood Advisors LLC bought a new position in shares of Veeva Systems in the 4th quarter valued at about $127,000. Institutional investors own 88.20% of the company’s stock.

Insider Activity at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of the business’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 transaction of $390,128.20. Following the completion of the transaction, the senior vice president now directly owns 8,061 shares in the company, valued at $1,856,448.30. The trade was a 17.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 10.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on VEEV. JPMorgan Chase & Co. raised their price objective on Veeva Systems from $208.00 to $218.00 and gave the company a “neutral” rating in a report on Monday, December 16th. The Goldman Sachs Group downgraded shares of Veeva Systems from a “buy” rating to a “sell” rating and cut their target price for the company from $261.00 to $200.00 in a research note on Thursday, January 23rd. Stephens began coverage on shares of Veeva Systems in a research note on Friday, December 20th. They issued an “overweight” rating and a $280.00 target price for the company. Mizuho began coverage on shares of Veeva Systems in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $275.00 target price for the company. Finally, StockNews.com upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, Veeva Systems currently has an average rating of “Moderate Buy” and an average price target of $255.08.

Veeva Systems Trading Up 1.5 %

Shares of VEEV stock opened at $224.33 on Monday. The stock has a market cap of $36.42 billion, a P/E ratio of 55.39, a price-to-earnings-growth ratio of 1.89 and a beta of 0.85. The stock has a 50 day simple moving average of $223.85 and a 200 day simple moving average of $219.17. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93.

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.