Inspire Investing LLC Decreases Stake in Veeva Systems Inc. (NYSE:VEEV)

Inspire Investing LLC lowered its stake in Veeva Systems Inc. (NYSE:VEEV) by 29.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,596 shares of the technology company’s stock after selling 6,765 shares during the quarter. Inspire Investing LLC’s holdings in Veeva Systems were worth $3,037,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Resolute Capital Asset Partners LLC purchased a new stake in Veeva Systems in the second quarter worth $1,830,000. Hsbc Holdings PLC increased its position in Veeva Systems by 30.7% in the second quarter. Hsbc Holdings PLC now owns 148,502 shares of the technology company’s stock worth $27,202,000 after buying an additional 34,896 shares in the last quarter. Elo Mutual Pension Insurance Co grew its position in shares of Veeva Systems by 0.5% during the second quarter. Elo Mutual Pension Insurance Co now owns 14,047 shares of the technology company’s stock worth $2,571,000 after purchasing an additional 70 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in Veeva Systems by 8.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 10,388 shares of the technology company’s stock valued at $1,901,000 after buying an additional 819 shares during the last quarter. Finally, Amalgamated Bank boosted its stake in Veeva Systems by 2.1% during the second quarter. Amalgamated Bank now owns 9,968 shares of the technology company’s stock valued at $1,824,000 after buying an additional 201 shares during the last quarter. Institutional investors own 88.20% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on VEEV. Stifel Nicolaus reduced their price objective on Veeva Systems from $250.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, May 31st. Raymond James boosted their price target on Veeva Systems from $230.00 to $235.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Citigroup upped their target price on Veeva Systems from $256.00 to $273.00 and gave the stock a “buy” rating in a research note on Tuesday, August 27th. JPMorgan Chase & Co. increased their target price on Veeva Systems from $203.00 to $208.00 and gave the company a “neutral” rating in a report on Monday, September 9th. Finally, Robert W. Baird increased their price target on Veeva Systems from $245.00 to $251.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, Veeva Systems has an average rating of “Moderate Buy” and an average price target of $229.96.

Insider Transactions at Veeva Systems

In other news, SVP Jonathan Faddis sold 2,353 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total transaction of $470,600.00. Following the transaction, the senior vice president now owns 9,035 shares in the company, valued at approximately $1,807,000. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 10.50% of the stock is currently owned by company insiders.

Veeva Systems Stock Performance

Shares of NYSE:VEEV opened at $215.61 on Thursday. The company has a market cap of $34.91 billion, a PE ratio of 63.60, a price-to-earnings-growth ratio of 2.12 and a beta of 0.81. Veeva Systems Inc. has a 52 week low of $162.72 and a 52 week high of $236.90. The firm has a 50 day simple moving average of $198.15 and a 200 day simple moving average of $201.71.

Veeva Systems 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.