Wealth Enhancement Advisory Services LLC boosted its position in shares of Veeva Systems Inc. (NYSE:VEEV – Free Report) by 96.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 26,612 shares of the technology company’s stock after purchasing an additional 13,088 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Veeva Systems were worth $7,566,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Veeva Systems by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 14,760,566 shares of the technology company’s stock valued at $3,418,990,000 after acquiring an additional 315,421 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of Veeva Systems by 10.7% in the 1st quarter. Alliancebernstein L.P. now owns 5,499,651 shares of the technology company’s stock valued at $1,273,884,000 after acquiring an additional 532,269 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its stake in shares of Veeva Systems by 0.7% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,203,867 shares of the technology company’s stock valued at $1,205,372,000 after acquiring an additional 34,169 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Veeva Systems by 20.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,992,372 shares of the technology company’s stock valued at $924,754,000 after acquiring an additional 689,700 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Veeva Systems by 7.5% in the 1st quarter. JPMorgan Chase & Co. now owns 3,230,758 shares of the technology company’s stock valued at $748,341,000 after acquiring an additional 225,125 shares during the last quarter. 88.20% of the stock is owned by institutional investors.
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Veeva Systems Price Performance
VEEV stock opened at $278.75 on Wednesday. The stock has a market capitalization of $45.69 billion, a price-to-earnings ratio of 57.24, a PEG ratio of 2.18 and a beta of 0.95. The business’s fifty day moving average price is $280.62 and its two-hundred day moving average price is $259.78. Veeva Systems Inc. has a fifty-two week low of $200.30 and a fifty-two week high of $296.72.
Insider Buying and Selling at Veeva Systems
In other Veeva Systems news, Director Priscilla Hung sold 172 shares of the stock in a transaction on 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 in the company, valued at $1,170,771. This trade represents a 3.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jonathan Faddis sold 720 shares of the stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $285.62, for a total value of $205,646.40. Following the transaction, the senior vice president owned 7,902 shares in the company, valued at $2,256,969.24. The trade was a 8.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,063 shares of company stock worth $302,955 in the last quarter. Company insiders own 10.30% of the company’s stock.
Analysts Set New Price Targets
VEEV has been the subject of a number of recent analyst reports. Raymond James Financial reaffirmed an “outperform” rating and issued a $340.00 price target (up from $310.00) on shares of Veeva Systems in a research note on Thursday, August 28th. Wells Fargo & Company increased their target price on Veeva Systems from $300.00 to $326.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 26th. JPMorgan Chase & Co. raised Veeva Systems from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $290.00 to $330.00 in a research note on Monday, September 8th. Needham & Company LLC upped their price target on Veeva Systems from $300.00 to $355.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Finally, Stifel Nicolaus upped their price target on Veeva Systems from $295.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Seventeen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $301.48.
Get 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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