HighPoint Advisor Group LLC Purchases Shares of 1,974 Veeva Systems Inc. (NYSE:VEEV)

HighPoint Advisor Group LLC acquired a new position in Veeva Systems Inc. (NYSE:VEEV) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,974 shares of the technology company’s stock, valued at approximately $380,000.

Several other large investors have also made changes to their positions in VEEV. Operose Advisors LLC bought a new position in Veeva Systems in the 3rd quarter worth approximately $29,000. DSM Capital Partners LLC acquired a new position in Veeva Systems during the 4th quarter valued at $29,000. Vermillion & White Wealth Management Group LLC bought a new stake in Veeva Systems in the 4th quarter valued at $32,000. Parkside Financial Bank & Trust grew its position in Veeva Systems by 81.9% in the 3rd quarter. Parkside Financial Bank & Trust now owns 171 shares of the technology company’s stock worth $35,000 after purchasing an additional 77 shares during the last quarter. Finally, American National Bank bought a new position in shares of Veeva Systems during the 4th quarter worth about $36,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Analyst Ratings Changes

VEEV has been the topic of a number of recent research reports. UBS Group decreased their target price on Veeva Systems from $235.00 to $185.00 and set a “neutral” rating on the stock in a research report on Friday, May 31st. Piper Sandler lowered their price objective on Veeva Systems from $245.00 to $235.00 and set an “overweight” rating on the stock in a research report on Friday, May 31st. Oppenheimer reaffirmed an “outperform” rating and issued a $225.00 target price on shares of Veeva Systems in a research report on Thursday, February 22nd. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 price target on shares of Veeva Systems in a report on Wednesday, March 27th. Finally, Stifel Nicolaus reduced their price objective on shares of Veeva Systems from $250.00 to $210.00 and set a “buy” rating for the company in a report on Friday, May 31st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $227.95.

Insider Activity

In other news, CFO Timothy S. Cabral sold 15,000 shares of the business’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $184.33, for a total transaction of $2,764,950.00. Following the completion of the sale, the chief financial officer now owns 8,391 shares in the company, valued at $1,546,713.03. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, SVP Jonathan Faddis sold 3,598 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $207.42, for a total value of $746,297.16. Following the transaction, the senior vice president now directly owns 10,668 shares in the company, valued at approximately $2,212,756.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Timothy S. Cabral sold 15,000 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $184.33, for a total value of $2,764,950.00. Following the completion of the sale, the chief financial officer now owns 8,391 shares of the company’s stock, valued at approximately $1,546,713.03. The disclosure for this sale can be found here. Insiders have sold 21,989 shares of company stock valued at $4,192,363 over the last three months. 10.50% of the stock is owned by insiders.

Veeva Systems Trading Up 2.8 %

VEEV opened at $183.80 on Friday. Veeva Systems Inc. has a 1-year low of $162.72 and a 1-year high of $236.90. The stock has a market capitalization of $29.71 billion, a PE ratio of 54.22, a PEG ratio of 1.76 and a beta of 0.80. The firm has a 50-day moving average price of $196.60 and a two-hundred day moving average price of $204.49.

Veeva Systems Company 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.