Sanctuary Advisors LLC Grows Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Sanctuary Advisors LLC grew its position in Veeva Systems Inc. (NYSE:VEEV) by 19.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,335 shares of the technology company’s stock after buying an additional 1,206 shares during the period. Sanctuary Advisors LLC’s holdings in Veeva Systems were worth $1,589,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Mowery & Schoenfeld Wealth Management LLC purchased a new position in Veeva Systems in the third quarter worth $26,000. True Wealth Design LLC grew its stake in Veeva Systems by 3,375.0% during the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock worth $29,000 after buying an additional 135 shares during the last quarter. Blue Trust Inc. grew its stake in Veeva Systems by 3,460.0% during the 2nd quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock worth $33,000 after buying an additional 173 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new position in Veeva Systems during the 3rd quarter valued at about $49,000. Finally, Fairscale Capital LLC purchased a new stake in Veeva Systems in the second quarter valued at about $46,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Down 0.8 %

Shares of Veeva Systems stock opened at $219.67 on Friday. The firm has a market cap of $35.66 billion, a PE ratio of 54.24, a P/E/G ratio of 2.03 and a beta of 0.82. The business has a 50-day moving average price of $222.73 and a 200 day moving average price of $204.84. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Evercore ISI boosted their price target on Veeva Systems from $220.00 to $245.00 and gave the stock an “in-line” rating in a research note on Friday, December 6th. Truist Financial reissued a “hold” rating and set a $261.00 target price (up previously from $207.00) on shares of Veeva Systems in a research report on Friday, December 6th. Royal Bank of Canada upped their price target on shares of Veeva Systems from $275.00 to $285.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Piper Sandler lifted their price objective on shares of Veeva Systems from $280.00 to $290.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Finally, Raymond James upped their target price on Veeva Systems from $230.00 to $235.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, Veeva Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $256.58.

Insider Activity

In related news, insider Thomas D. Schwenger sold 1,126 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.01, for a total transaction of $270,251.26. Following the completion of the transaction, the insider now owns 27,013 shares in the company, valued at $6,483,390.13. This represents a 4.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jonathan Faddis sold 1,694 shares of Veeva Systems stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total value of $390,128.20. Following the completion of the sale, the senior vice president now owns 8,061 shares in the company, valued at approximately $1,856,448.30. The trade was a 17.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 10.50% of the company’s stock.

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.