Thoroughbred Financial Services LLC Buys Shares of 1,411 Veeva Systems Inc. (NYSE:VEEV)

Thoroughbred Financial Services LLC purchased a new position in shares of Veeva Systems Inc. (NYSE:VEEV) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 1,411 shares of the technology company’s stock, valued at approximately $258,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Dai ichi Life Insurance Company Ltd lifted its holdings in Veeva Systems by 465.5% in the second quarter. Dai ichi Life Insurance Company Ltd now owns 6,074 shares of the technology company’s stock valued at $1,112,000 after buying an additional 5,000 shares during the period. Federated Hermes Inc. lifted its stake in shares of Veeva Systems by 4.4% in the 2nd quarter. Federated Hermes Inc. now owns 592,187 shares of the technology company’s stock valued at $108,376,000 after purchasing an additional 24,689 shares during the period. Meeder Advisory Services Inc. boosted its position in shares of Veeva Systems by 26.6% during the 2nd quarter. Meeder Advisory Services Inc. now owns 2,630 shares of the technology company’s stock valued at $481,000 after purchasing an additional 552 shares in the last quarter. BOKF NA grew its stake in Veeva Systems by 0.8% during the second quarter. BOKF NA now owns 15,497 shares of the technology company’s stock worth $2,836,000 after purchasing an additional 121 shares during the period. Finally, Cornercap Investment Counsel Inc. bought a new stake in Veeva Systems in the second quarter worth approximately $2,055,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insider Transactions at Veeva Systems

In related news, SVP Jonathan Faddis sold 2,353 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total transaction of $470,600.00. Following the completion of the sale, the senior vice president now directly owns 9,035 shares of the company’s stock, valued at $1,807,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 10.50% of the company’s stock.

Veeva Systems Stock Performance

Veeva Systems stock opened at $214.80 on Wednesday. Veeva Systems Inc. has a fifty-two week low of $162.72 and a fifty-two week high of $236.90. The firm’s 50-day simple moving average is $197.48 and its 200 day simple moving average is $201.61. The stock has a market cap of $34.72 billion, a PE ratio of 63.36, a price-to-earnings-growth ratio of 2.14 and a beta of 0.81.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Barclays raised their price objective on shares of Veeva Systems from $220.00 to $240.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Evercore ISI reduced their price target on shares of Veeva Systems from $230.00 to $200.00 and set an “in-line” rating for the company in a report on Friday, May 31st. Needham & Company LLC reiterated a “buy” rating and set a $260.00 price objective on shares of Veeva Systems in a report on Thursday, August 29th. TD Cowen raised their target price on Veeva Systems from $180.00 to $192.00 and gave the company a “hold” rating in a research note on Thursday, August 29th. Finally, Raymond James upped their price target on Veeva Systems from $230.00 to $235.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $229.96.

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.