Davidson Capital Management Inc. Raises Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Davidson Capital Management Inc. raised its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 52.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,355 shares of the technology company’s stock after purchasing an additional 5,949 shares during the quarter. Veeva Systems accounts for about 1.0% of Davidson Capital Management Inc.’s portfolio, making the stock its 28th largest position. Davidson Capital Management Inc.’s holdings in Veeva Systems were worth $3,176,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Advisors Asset Management Inc. bought a new stake in Veeva Systems during the first quarter worth approximately $28,000. DSM Capital Partners LLC bought a new position in shares of Veeva Systems during the fourth quarter valued at approximately $29,000. First Financial Corp IN bought a new stake in shares of Veeva Systems during the 1st quarter worth approximately $35,000. Larson Financial Group LLC boosted its holdings in Veeva Systems by 1,153.8% during the 1st 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 during the period. Finally, Vermillion & White Wealth Management Group LLC bought a new position in Veeva Systems in the 4th quarter valued at $32,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems Price Performance

Veeva Systems stock opened at $214.42 on Friday. Veeva Systems Inc. has a 12 month low of $162.72 and a 12 month high of $236.90. The stock has a market capitalization of $34.72 billion, a PE ratio of 63.25, a price-to-earnings-growth ratio of 2.12 and a beta of 0.81. The business has a 50 day simple moving average of $198.72 and a 200-day simple moving average of $201.80.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on VEEV shares. UBS Group lifted their price target on shares of Veeva Systems from $185.00 to $215.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 price objective on shares of Veeva Systems in a report on Thursday, August 29th. Needham & Company LLC reissued a “buy” rating and issued a $260.00 price objective on shares of Veeva Systems in a research note on Thursday, August 29th. JPMorgan Chase & Co. increased their target price on Veeva Systems from $203.00 to $208.00 and gave the company a “neutral” rating in a research report on Monday, September 9th. Finally, TD Cowen boosted their price target on Veeva Systems from $180.00 to $192.00 and gave the stock a “hold” rating in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $229.96.

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.