Assenagon Asset Management S.A. reduced its holdings in Veeva Systems Inc. (NYSE:VEEV – Free Report) by 42.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,749 shares of the technology company’s stock after selling 15,763 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Veeva Systems were worth $6,263,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Abound Financial LLC acquired a new position in shares of Veeva Systems in the 1st quarter worth approximately $25,000. ORG Partners LLC acquired a new position in shares of Veeva Systems in the 1st quarter worth approximately $26,000. Golden State Wealth Management LLC boosted its holdings in shares of Veeva Systems by 152.9% in the 1st quarter. Golden State Wealth Management LLC now owns 129 shares of the technology company’s stock worth $30,000 after acquiring an additional 78 shares in the last quarter. Wayfinding Financial LLC acquired a new position in shares of Veeva Systems in the 1st quarter worth approximately $32,000. Finally, Key Financial Inc lifted its holdings in Veeva Systems by 161.0% during the 1st quarter. Key Financial Inc now owns 154 shares of the technology company’s stock worth $36,000 after buying an additional 95 shares in the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.
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Insider Transactions at Veeva Systems
In other news, SVP Jonathan Faddis sold 720 shares of the stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $285.62, for a total transaction of $205,646.40. Following the completion of the transaction, the senior vice president directly owned 7,902 shares in the company, valued at $2,256,969.24. This represents a 8.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Priscilla Hung sold 172 shares of the stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $283.00, for a total transaction of $48,676.00. Following the transaction, the director owned 4,137 shares of the company’s stock, valued at approximately $1,170,771. This represents a 3.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,063 shares of company stock valued at $302,955. Corporate insiders own 10.30% of the company’s stock.
Veeva Systems Trading Down 0.8%
VEEV stock opened at $278.75 on Wednesday. The stock has a 50-day moving average price of $280.62 and a two-hundred day moving average price of $259.78. The stock has a market cap of $45.69 billion, a PE ratio of 57.24, a price-to-earnings-growth ratio of 2.18 and a beta of 0.95. Veeva Systems Inc. has a 1 year low of $200.30 and a 1 year high of $296.72.
Analyst Ratings Changes
VEEV has been the topic of several research reports. JPMorgan Chase & Co. raised Veeva Systems from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $290.00 to $330.00 in a report on Monday, September 8th. Stifel Nicolaus upped their price objective on Veeva Systems from $295.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. Wall Street Zen raised Veeva Systems from a “hold” rating to a “buy” rating in a report on Friday, May 30th. Oppenheimer reaffirmed an “outperform” rating and set a $325.00 price objective on shares of Veeva Systems in a report on Thursday, August 28th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $340.00 price objective (up previously from $310.00) on shares of Veeva Systems in a report on Thursday, August 28th. Seventeen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $301.48.
Check Out Our Latest Analysis on Veeva Systems
Veeva Systems Company Profile
(Free Report)
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.
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