Edgestream Partners L.P. acquired a new stake in shares of Veeva Systems Inc. (NYSE:VEEV – Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 2,275 shares of the technology company’s stock, valued at approximately $477,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in Veeva Systems in the 3rd quarter worth $26,000. Blue Trust Inc. grew its position in shares of Veeva Systems by 3,460.0% during the second quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock worth $33,000 after purchasing an additional 173 shares in the last quarter. DT Investment Partners LLC bought a new stake in Veeva Systems during the 2nd quarter valued at approximately $35,000. Mather Group LLC. lifted its holdings in Veeva Systems by 166.3% in the 2nd quarter. Mather Group LLC. now owns 253 shares of the technology company’s stock worth $46,000 after purchasing an additional 158 shares in the last quarter. Finally, Fairscale Capital LLC bought a new position in Veeva Systems in the 2nd quarter worth approximately $46,000. 88.20% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of analysts have issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price target on shares of Veeva Systems in a report on Friday, November 8th. Citigroup lifted their target price on Veeva Systems from $256.00 to $273.00 and gave the stock a “buy” rating in a report on Tuesday, August 27th. StockNews.com raised Veeva Systems from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Barclays lifted their price objective on Veeva Systems from $240.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Finally, Mizuho began coverage on Veeva Systems in a research report on Wednesday. They set an “outperform” rating and a $275.00 target price for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, Veeva Systems has an average rating of “Moderate Buy” and an average price target of $238.44.
Insider Activity
In other news, insider Thomas D. Schwenger sold 1,126 shares of Veeva Systems stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $240.01, for a total transaction of $270,251.26. Following the completion of the sale, the insider now owns 27,013 shares of the company’s stock, valued at approximately $6,483,390.13. The trade was a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 10.50% of the company’s stock.
Veeva Systems Stock Down 2.6 %
Shares of Veeva Systems stock opened at $231.66 on Friday. The stock’s fifty day moving average is $217.50 and its two-hundred day moving average is $202.61. Veeva Systems Inc. has a 52 week low of $165.12 and a 52 week high of $240.68. The company has a market capitalization of $37.51 billion, a PE ratio of 61.78, a price-to-earnings-growth ratio of 2.20 and a beta of 0.82.
Veeva Systems 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.
Recommended Stories
- Five stocks we like better than Veeva Systems
- How to Read Stock Charts for Beginners
- NVIDIA’s Blackwell Chips Set for Arizona Manufacturing by TSMC?
- What is MarketRank™? How to Use it
- Okta: Bullish Signals Suggest a Market Reversal Is Underway
- Where to Find Earnings Call Transcripts
- BlackRock Makes Waves With $12B Private Credit Acquisition
Want to see what other hedge funds are holding VEEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Veeva Systems Inc. (NYSE:VEEV – Free Report).
Receive News & Ratings for Veeva Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veeva Systems and related companies with MarketBeat.com's FREE daily email newsletter.