J.W. Cole Advisors Inc. Buys New Position in Veeva Systems Inc. (NYSE:VEEV)

J.W. Cole Advisors Inc. bought a new stake in Veeva Systems Inc. (NYSE:VEEV) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 1,208 shares of the technology company’s stock, valued at approximately $221,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of VEEV. OV Management LLC increased its position in shares of Veeva Systems by 1.0% during the second quarter. OV Management LLC now owns 6,659 shares of the technology company’s stock worth $1,219,000 after acquiring an additional 63 shares during the period. Oppenheimer Asset Management Inc. increased its holdings in Veeva Systems by 10.9% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 75,267 shares of the technology company’s stock worth $13,775,000 after purchasing an additional 7,421 shares during the period. Allen Investment Management LLC increased its holdings in Veeva Systems by 9.8% during the 2nd quarter. Allen Investment Management LLC now owns 63,693 shares of the technology company’s stock worth $11,656,000 after purchasing an additional 5,668 shares during the period. Leelyn Smith LLC raised its position in Veeva Systems by 12.7% in the 2nd quarter. Leelyn Smith LLC now owns 6,928 shares of the technology company’s stock valued at $1,268,000 after purchasing an additional 778 shares in the last quarter. Finally, Thoroughbred Financial Services LLC purchased a new position in shares of Veeva Systems in the 2nd quarter valued at about $258,000. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Veeva Systems Trading Down 0.5 %

Veeva Systems stock opened at $214.42 on Friday. The stock has a market capitalization of $34.72 billion, a price-to-earnings ratio of 63.25, a PEG ratio of 2.12 and a beta of 0.81. The stock has a 50 day moving average of $198.72 and a two-hundred day moving average of $201.80. Veeva Systems Inc. has a twelve month low of $162.72 and a twelve month high of $236.90.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on VEEV shares. Raymond James upped their target price on shares of Veeva Systems from $230.00 to $235.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. TD Cowen raised their price objective on shares of Veeva Systems from $180.00 to $192.00 and gave the company a “hold” rating in a report on Thursday, August 29th. Barclays boosted their target price on shares of Veeva Systems from $220.00 to $240.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. UBS Group increased their target price on Veeva Systems from $185.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, August 26th. Finally, Truist Financial lifted their price target on Veeva Systems from $197.00 to $207.00 and gave the stock a “hold” rating in a report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $229.96.

Insider Activity at Veeva Systems

In other news, SVP Jonathan Faddis sold 2,353 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were 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 in the company, valued at approximately $1,807,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.50% of the stock is currently owned by insiders.

Veeva Systems Company 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.