Veeva Systems Inc. (NYSE:VEEV) Stock Position Boosted by Avalon Global Asset Management LLC

Avalon Global Asset Management LLC grew its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 0.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,200 shares of the technology company’s stock after buying an additional 200 shares during the quarter. Veeva Systems comprises 1.7% of Avalon Global Asset Management LLC’s holdings, making the stock its 19th biggest position. Avalon Global Asset Management LLC’s holdings in Veeva Systems were worth $7,357,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Advisors Asset Management Inc. acquired a new stake in Veeva Systems during the first quarter valued at approximately $28,000. DSM Capital Partners LLC bought a new position in shares of Veeva Systems during the 4th quarter valued at $29,000. Vermillion & White Wealth Management Group LLC bought a new position in Veeva Systems during the fourth quarter valued at about $32,000. Blue Trust Inc. increased its holdings in shares of Veeva Systems by 3,460.0% during the 2nd quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock valued at $33,000 after acquiring an additional 173 shares during the last quarter. Finally, First Financial Corp IN acquired a new position in Veeva Systems during the first quarter valued at approximately $35,000. 88.20% of the stock is currently owned by institutional investors.

Insider Transactions at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of Veeva Systems stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total transaction of $470,600.00. Following the transaction, the senior vice president now directly owns 9,035 shares in the company, valued at $1,807,000. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 10.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Bank of America lifted their price objective on Veeva Systems from $204.00 to $240.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Truist Financial upped their target price on shares of Veeva Systems from $197.00 to $207.00 and gave the company a “hold” rating in a research note on Tuesday, September 3rd. Royal Bank of Canada restated an “outperform” rating and set a $250.00 price objective on shares of Veeva Systems in a report on Thursday, August 29th. BTIG Research assumed coverage on Veeva Systems in a report on Tuesday, July 9th. They set a “buy” rating and a $240.00 price objective on the stock. Finally, TD Cowen upped 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. One research 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $229.96.

Veeva Systems Trading Up 0.2 %

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 company has a market capitalization of $34.72 billion, a PE ratio of 63.37, a P/E/G ratio of 2.12 and a beta of 0.81. The stock has a 50-day simple moving average of $199.25 and a 200 day simple moving average of $201.72.

About Veeva Systems

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.