RiverGlades Family Offices LLC Acquires New Position in Veeva Systems Inc. (NYSE:VEEV)

RiverGlades Family Offices LLC bought a new position in Veeva Systems Inc. (NYSE:VEEV) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,375 shares of the technology company’s stock, valued at approximately $252,000.

A number of other institutional investors also recently modified their holdings of the stock. Advisors Asset Management Inc. acquired a new position in Veeva Systems in the first quarter worth approximately $28,000. DSM Capital Partners LLC bought a new position in shares of Veeva Systems during the 4th quarter valued at $29,000. First Financial Corp IN bought a new stake in Veeva Systems in the first quarter worth $35,000. Larson Financial Group LLC boosted its holdings in Veeva Systems by 1,153.8% in the first 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 bought a new position in Veeva Systems during the fourth quarter valued at about $32,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Stock Up 0.2 %

Shares of NYSE:VEEV opened at $214.81 on Friday. Veeva Systems Inc. has a 12 month low of $162.72 and a 12 month high of $236.90. The firm has a market cap of $34.72 billion, a P/E ratio of 63.37, a P/E/G ratio of 2.12 and a beta of 0.81. The company’s 50-day moving average price is $199.25 and its two-hundred day moving average price is $201.72.

Insider Activity at Veeva Systems

In other 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 directly owns 9,035 shares of the company’s stock, valued at approximately $1,807,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 10.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

VEEV has been the topic of a number of analyst reports. Robert W. Baird increased their price objective on Veeva Systems from $245.00 to $251.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. TD Cowen boosted 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. BTIG Research began coverage on shares of Veeva Systems in a research note on Tuesday, July 9th. They issued a “buy” rating and a $240.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on shares of Veeva Systems from $203.00 to $208.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. Finally, Morgan Stanley dropped their price objective on Veeva Systems from $210.00 to $173.00 and set an “underweight” rating on the stock in a research note on Friday, May 31st. One analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Veeva Systems presently has a consensus rating of “Moderate Buy” and a consensus price target 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.