ASR Vermogensbeheer N.V. has significantly increased its investment in Veeva Systems Inc. (NYSE:VEEV – Free Report) by 64.2% during the second quarter, as revealed in its latest filing with the Securities and Exchange Commission (SEC). The institutional investor now holds 5,167 shares of the technology company after acquiring an additional 2,020 shares during the quarter. At the end of this period, ASR Vermogensbeheer N.V.’s stake in Veeva Systems was valued at approximately $1,488,000.
Other institutional investors have also been active in the Veeva Systems market. For instance, Abound Financial LLC entered a new position in the first quarter, investing $25,000, while ORG Partners LLC followed suit with a $26,000 investment. Golden State Wealth Management LLC increased its stake by an impressive 152.9% during the same period, now owning 129 shares valued at $30,000 after acquiring an additional 78 shares. Wayfinding Financial LLC also bought a new position valued at about $32,000, and Maseco LLP made a new investment in the second quarter worth approximately $35,000. Collectively, institutional investors and hedge funds own 88.20% of Veeva Systems’ stock.
Veeva Systems Price Performance
NYSE VEEV opened at $296.47 on Friday, with a market capitalization of $48.60 billion. The company has a P/E ratio of 60.88 and a P/E/G ratio of 2.29, alongside a beta of 0.98. Over the past year, Veeva Systems has seen a low of $200.30 and a high of $302.00. The stock’s 50-day moving average stands at $281.68, while the 200-day moving average is $262.93.
Wall Street Analyst Weigh In
Recent commentary from equity research analysts has been positive for Veeva Systems. Stifel Nicolaus raised their price target from $295.00 to $320.00, maintaining a “buy” rating. KeyCorp also increased their target price from $285.00 to $325.00, assigning an “overweight” rating. Similarly, Raymond James Financial reiterated an “outperform” rating with a new target price of $340.00, up from $310.00. Barclays followed suit, raising their target from $300.00 to $325.00 with an “overweight” rating. Truist Financial also adjusted their target price from $268.00 to $275.00, maintaining a “hold” rating. Currently, 16 research analysts have rated the stock as a Buy, while seven have given it a Hold rating and two have assigned a Sell rating. According to MarketBeat.com, Veeva Systems holds an average rating of “Moderate Buy” with a consensus price target of $303.67.
View Our Latest Stock Analysis on VEEV
Insider Buying and Selling
In related news, SVP Jonathan Faddis sold 14,595 shares on October 2nd at an average price of $300.00, totaling $4,378,500. Following this transaction, he directly owns 8,588 shares valued at approximately $2,576,400, marking a 62.96% decrease in his ownership. This transaction was disclosed in a filing with the SEC, accessible through this hyperlink. Additionally, insider Thomas D. Schwenger sold 3,350 shares on the same day for an average price of $300.04, amounting to $1,005,134. Following this sale, he owns 23,773 shares valued at approximately $7,132,850.92, representing a 12.35% decrease in ownership. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,836 shares worth $5,637,913, with corporate insiders holding 10.30% of the stock.
About Veeva Systems
Veeva Systems Inc. specializes in providing cloud-based software solutions tailored for the life sciences industry. Their offerings include Veeva Commercial Cloud, a suite of software and analytics solutions designed for customer-facing employees in pharmaceutical and biotechnology sectors. Other products include Veeva Vault PromoMats for content and digital asset management, Veeva Vault Medical for medical content across various channels, Veeva Crossix for analytics, Veeva OpenData for customer reference data, Veeva Link for real-time intelligence, and Veeva Compass, which provides de-identified longitudinal patient data for the U.S.
See Also
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