Intech Investment Management LLC Buys 84,535 Shares of Veeva Systems Inc. (NYSE:VEEV)

Intech Investment Management LLC grew its stake in Veeva Systems Inc. (NYSE:VEEV) by 1,186.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 91,659 shares of the technology company’s stock after purchasing an additional 84,535 shares during the quarter. Intech Investment Management LLC owned approximately 0.06% of Veeva Systems worth $16,775,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Advisors Asset Management Inc. acquired a new position in shares of Veeva Systems in the first quarter valued at about $28,000. DSM Capital Partners LLC acquired a new position in shares of Veeva Systems in the fourth quarter valued at about $29,000. First Financial Corp IN acquired a new position in shares of Veeva Systems in the first quarter valued at about $35,000. Larson Financial Group LLC grew its stake in shares of Veeva Systems by 1,153.8% in the first quarter. Larson Financial Group LLC now owns 163 shares of the technology company’s stock valued at $38,000 after acquiring an additional 150 shares in the last quarter. Finally, Vermillion & White Wealth Management Group LLC acquired a new position in shares of Veeva Systems in the fourth quarter valued at about $32,000. 88.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on VEEV shares. Canaccord Genuity Group decreased their price target on shares of Veeva Systems from $220.00 to $210.00 and set a “hold” rating on the stock in a research note on Friday, May 31st. Bank of America increased their price objective on shares of Veeva Systems from $204.00 to $240.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. BTIG Research started coverage on shares of Veeva Systems in a research note on Tuesday, July 9th. They set a “buy” rating and a $240.00 price objective on the stock. TD Cowen increased their price objective on shares of Veeva Systems from $180.00 to $192.00 and gave the stock a “hold” rating in a research note on Thursday, August 29th. Finally, Guggenheim increased their target price on shares of Veeva Systems from $211.00 to $233.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. One analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have issued 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 $229.96.

Insiders Place Their Bets

In other news, SVP Jonathan Faddis sold 2,353 shares of the firm’s stock in a transaction that occurred 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 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 10.50% of the company’s stock.

Veeva Systems Stock Performance

Veeva Systems stock opened at $214.42 on Friday. 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 moving average price of $198.72 and a two-hundred day moving average price of $201.80. The firm has a market cap of $34.72 billion, a price-to-earnings ratio of 63.25, a PEG ratio of 2.12 and a beta of 0.81.

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.