Resolute Capital Asset Partners LLC Purchases Shares of 10,000 Veeva Systems Inc. (NYSE:VEEV)

Resolute Capital Asset Partners LLC bought a new position in Veeva Systems Inc. (NYSE:VEEV) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 10,000 shares of the technology company’s stock, valued at approximately $1,830,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. bought a new stake in shares of Veeva Systems in the 1st quarter worth approximately $28,000. DSM Capital Partners LLC bought a new stake in Veeva Systems in the fourth quarter valued at $29,000. First Financial Corp IN purchased a new position in Veeva Systems during the 1st quarter valued at $35,000. Larson Financial Group LLC raised its holdings in Veeva Systems by 1,153.8% in the 1st quarter. Larson Financial Group LLC now owns 163 shares of the technology company’s stock worth $38,000 after purchasing an additional 150 shares in the last quarter. Finally, Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Veeva Systems in the 4th quarter worth about $32,000. 88.20% of the stock is currently owned by institutional investors.

Veeva Systems Stock Up 0.4 %

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

Insider Activity at Veeva Systems

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on VEEV. Evercore ISI reduced their price target on shares of Veeva Systems from $230.00 to $200.00 and set an “in-line” rating on the stock in a research report on Friday, May 31st. TD Cowen upped their target price on Veeva Systems from $180.00 to $192.00 and gave the stock a “hold” rating in a report on Thursday, August 29th. Needham & Company LLC reissued a “buy” rating and issued a $260.00 target price on shares of Veeva Systems in a research report on Thursday, August 29th. Piper Sandler raised their target price on Veeva Systems from $225.00 to $230.00 and gave the company an “overweight” 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 research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $229.96.

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.