Turning Point Benefit Group Inc. Purchases Shares of 1,848 Veeva Systems Inc. (NYSE:VEEV)

Turning Point Benefit Group Inc. purchased a new stake in shares of Veeva Systems Inc. (NYSE:VEEV) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 1,848 shares of the technology company’s stock, valued at approximately $393,000.

Several other institutional investors have also added to or reduced their stakes in VEEV. Blue Trust Inc. raised its holdings in Veeva Systems by 453.9% in the 3rd quarter. Blue Trust Inc. now owns 986 shares of the technology company’s stock worth $207,000 after purchasing an additional 808 shares in the last quarter. Raymond James & Associates raised its holdings in Veeva Systems by 9.1% in the 3rd quarter. Raymond James & Associates now owns 115,954 shares of the technology company’s stock worth $24,335,000 after purchasing an additional 9,713 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of Veeva Systems by 19,189.0% in the 3rd quarter. International Assets Investment Management LLC now owns 119,206 shares of the technology company’s stock worth $25,018,000 after acquiring an additional 118,588 shares in the last quarter. Hennion & Walsh Asset Management Inc. bought a new position in shares of Veeva Systems in the 3rd quarter worth about $307,000. Finally, IFM Investors Pty Ltd lifted its position in Veeva Systems by 0.4% during the 3rd quarter. IFM Investors Pty Ltd now owns 29,486 shares of the technology company’s stock valued at $6,188,000 after acquiring an additional 109 shares during the period. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. StockNews.com raised shares of Veeva Systems from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Barclays lifted their price target on shares of Veeva Systems from $260.00 to $275.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Piper Sandler lifted their price target on shares of Veeva Systems from $280.00 to $290.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Citigroup lifted their price target on shares of Veeva Systems from $281.00 to $307.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, Wells Fargo & Company lifted their price target on shares of Veeva Systems from $275.00 to $285.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $253.96.

Insider Activity at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total value of $390,128.20. Following the completion of the transaction, the senior vice president now directly owns 8,061 shares in the company, valued at $1,856,448.30. This represents a 17.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 10.50% of the stock is currently owned by company insiders.

Veeva Systems Trading Down 1.2 %

Shares of NYSE VEEV opened at $226.10 on Friday. The firm has a 50 day moving average of $223.81 and a 200 day moving average of $217.11. The firm has a market capitalization of $36.71 billion, a price-to-earnings ratio of 55.83, a price-to-earnings-growth ratio of 1.89 and a beta of 0.85. Veeva Systems Inc. has a 12-month low of $170.25 and a 12-month high of $258.93.

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.