Veeva Systems Inc. (NYSE:VEEV) Holdings Boosted by Quantum Capital Management LLC NJ

Quantum Capital Management LLC NJ grew its holdings in Veeva Systems Inc. (NYSE:VEEV) by 0.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 411,341 shares of the technology company’s stock after purchasing an additional 1,020 shares during the period. Veeva Systems makes up 9.3% of Quantum Capital Management LLC NJ’s portfolio, making the stock its 2nd biggest position. Quantum Capital Management LLC NJ owned about 0.25% of Veeva Systems worth $86,484,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Norges Bank acquired a new position in Veeva Systems in the 4th quarter valued at approximately $294,785,000. 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 worth $457,366,000 after acquiring an additional 1,267,061 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Veeva Systems by 73.2% in the third quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company’s stock worth $536,972,000 after acquiring an additional 1,081,501 shares during the last quarter. Wealthfront Advisers LLC raised its holdings in shares of Veeva Systems by 29,760.5% during the fourth quarter. Wealthfront Advisers LLC now owns 1,048,700 shares of the technology company’s stock worth $220,489,000 after acquiring an additional 1,045,188 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Veeva Systems during the fourth quarter valued at $95,710,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insider Activity

In other news, SVP Jonathan Faddis sold 787 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total value of $178,019.40. Following the transaction, the senior vice president now directly owns 8,668 shares of the company’s stock, valued at $1,960,701.60. The trade was a 8.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 10.50% of the stock is owned by corporate insiders.

Veeva Systems Trading Down 2.2 %

Shares of VEEV opened at $221.58 on Friday. The stock has a 50 day simple moving average of $231.93 and a 200-day simple moving average of $223.03. The stock has a market cap of $36.05 billion, a PE ratio of 54.71, a PEG ratio of 1.89 and a beta of 0.88. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93.

Analysts Set New Price Targets

A number of research firms have recently weighed in on VEEV. Truist Financial raised their price target on Veeva Systems from $210.00 to $217.00 and gave the stock a “hold” rating in a research note on Thursday, March 6th. Citigroup raised their price objective 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. Canaccord Genuity Group boosted their target price on shares of Veeva Systems from $210.00 to $270.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. 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 research note on Friday, December 6th. Finally, KeyCorp reduced their price objective on shares of Veeva Systems from $285.00 to $255.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Veeva Systems has a consensus rating of “Moderate Buy” and a consensus target price of $256.52.

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.