Veeva Systems Inc. (NYSE:VEEV) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC boosted its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 10.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 844 shares of the technology company’s stock after buying an additional 82 shares during the period. GAMMA Investing LLC’s holdings in Veeva Systems were worth $196,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Linscomb & Williams Inc. acquired a new position in Veeva Systems during the fourth quarter worth $1,479,000. Robeco Institutional Asset Management B.V. boosted its stake in Veeva Systems by 32.7% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 206,220 shares of the technology company’s stock worth $365,000 after buying an additional 50,868 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in Veeva Systems by 703.8% during the fourth quarter. Sequoia Financial Advisors LLC now owns 15,594 shares of the technology company’s stock worth $3,002,000 after buying an additional 13,654 shares during the last quarter. Nordea Investment Management AB boosted its stake in Veeva Systems by 5.2% during the fourth quarter. Nordea Investment Management AB now owns 163,247 shares of the technology company’s stock worth $31,730,000 after buying an additional 8,007 shares during the last quarter. Finally, APG Asset Management US Inc. acquired a new position in shares of Veeva Systems in the 4th quarter valued at $5,756,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insider Transactions at Veeva Systems

In other news, SVP Jonathan Faddis sold 3,598 shares of the company’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $207.42, for a total transaction of $746,297.16. Following the completion of the transaction, the senior vice president now directly owns 10,668 shares of the company’s stock, valued at approximately $2,212,756.56. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP Alan Mateo sold 3,391 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $200.86, for a total value of $681,116.26. Following the completion of the sale, the executive vice president now directly owns 21,983 shares of the company’s stock, valued at approximately $4,415,505.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Jonathan Faddis sold 3,598 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $207.42, for a total value of $746,297.16. Following the completion of the sale, the senior vice president now directly owns 10,668 shares of the company’s stock, valued at $2,212,756.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,989 shares of company stock valued at $4,192,363. 10.50% of the stock is currently owned by corporate insiders.

Veeva Systems Stock Performance

NYSE:VEEV opened at $183.80 on Friday. The stock has a 50-day simple moving average of $196.60 and a 200-day simple moving average of $204.49. The stock has a market cap of $29.71 billion, a P/E ratio of 54.22, a P/E/G ratio of 1.76 and a beta of 0.80. Veeva Systems Inc. has a 1 year low of $162.72 and a 1 year high of $236.90.

Analyst Ratings Changes

VEEV has been the topic of several recent analyst reports. The Goldman Sachs Group upped their price target on Veeva Systems from $219.00 to $248.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Citigroup decreased their price target on Veeva Systems from $274.00 to $256.00 and set a “buy” rating on the stock in a research note on Monday, June 3rd. Piper Sandler decreased their price target on Veeva Systems from $245.00 to $235.00 and set an “overweight” rating on the stock in a research note on Friday, May 31st. KeyCorp boosted their price objective on Veeva Systems from $232.00 to $250.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. Finally, Canaccord Genuity Group cut their price objective on Veeva Systems from $220.00 to $210.00 and set a “hold” rating on the stock in a report on Friday, May 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $227.95.

About Veeva Systems

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.