R Squared Ltd Acquires Shares of 566 Veeva Systems Inc. (NYSE:VEEV)

R Squared Ltd acquired a new position in Veeva Systems Inc. (NYSE:VEEV) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 566 shares of the technology company’s stock, valued at approximately $119,000.

Other institutional investors have also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB grew its stake in shares of Veeva Systems by 72.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock worth $25,000 after purchasing an additional 50 shares during the period. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in Veeva Systems during the third quarter worth $26,000. True Wealth Design LLC grew its position in 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 acquired a new stake in Veeva Systems during the fourth quarter valued at $31,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in Veeva Systems in the third quarter valued at $49,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Up 2.2 %

VEEV stock opened at $237.31 on Friday. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93. The stock has a market cap of $38.53 billion, a price-to-earnings ratio of 58.60, a price-to-earnings-growth ratio of 2.01 and a beta of 0.84. The business has a fifty day moving average of $222.75 and a two-hundred day moving average of $212.03.

Insider Activity at Veeva Systems

In related news, SVP Jonathan Faddis sold 1,694 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total transaction of $390,128.20. Following the transaction, the senior vice president now owns 8,061 shares of the company’s stock, valued at approximately $1,856,448.30. This represents a 17.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Thomas D. Schwenger sold 1,126 shares of the firm’s stock in a transaction dated 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 $6,483,390.13. This trade represents a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.50% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently commented on VEEV. Wells Fargo & Company raised their target price on Veeva Systems from $275.00 to $285.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Stifel Nicolaus upped their target price on Veeva Systems from $240.00 to $272.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Scotiabank lifted their price target on shares of Veeva Systems from $235.00 to $240.00 and gave the company a “sector perform” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. upped their price objective on shares of Veeva Systems from $208.00 to $218.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. Finally, Citigroup lifted their target price on shares of Veeva Systems from $281.00 to $307.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $253.96.

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.