SBI Securities Co. Ltd. Buys Shares of 9,082 Veeva Systems Inc. (NYSE:VEEV)

SBI Securities Co. Ltd. purchased a new stake in Veeva Systems Inc. (NYSE:VEEV) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 9,082 shares of the technology company’s stock, valued at approximately $1,909,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in VEEV. Jones Financial Companies Lllp increased its position in shares of Veeva Systems by 64.8% during the 4th quarter. Jones Financial Companies Lllp now owns 5,695 shares of the technology company’s stock worth $1,197,000 after purchasing an additional 2,239 shares during the last quarter. SRS Capital Advisors Inc. boosted its stake in Veeva Systems by 7.2% during the fourth quarter. SRS Capital Advisors Inc. now owns 5,748 shares of the technology company’s stock worth $1,209,000 after buying an additional 385 shares during the period. Maia Wealth LLC boosted its stake in Veeva Systems by 11.0% during the fourth quarter. Maia Wealth LLC now owns 3,851 shares of the technology company’s stock worth $869,000 after buying an additional 383 shares during the period. Metis Global Partners LLC increased its position in shares of Veeva Systems by 4.7% during the fourth quarter. Metis Global Partners LLC now owns 5,297 shares of the technology company’s stock valued at $1,114,000 after acquiring an additional 240 shares during the last quarter. Finally, US Bancorp DE raised its stake in shares of Veeva Systems by 35.0% in the 4th quarter. US Bancorp DE now owns 151,414 shares of the technology company’s stock valued at $31,835,000 after acquiring an additional 39,258 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Morgan Stanley increased their price objective on shares of Veeva Systems from $183.00 to $195.00 and gave the stock an “underweight” rating in a research report on Tuesday, December 17th. Bank of America raised their price target on Veeva Systems from $280.00 to $290.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. StockNews.com upgraded Veeva Systems from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Barclays raised their target price on Veeva Systems from $260.00 to $275.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Finally, Citigroup boosted their price target on shares of Veeva Systems from $281.00 to $307.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, Veeva Systems presently has a consensus rating of “Moderate Buy” and an average price target of $255.08.

Veeva Systems Stock Up 1.5 %

VEEV stock opened at $224.33 on Monday. The business has a 50 day moving average price of $223.85 and a 200 day moving average price of $219.17. The stock has a market cap of $36.42 billion, a price-to-earnings ratio of 55.39, a PEG ratio of 1.89 and a beta of 0.85. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93.

Insiders Place Their Bets

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of the firm’s 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 trade represents a 17.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 10.50% of the stock is owned by corporate insiders.

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.