SBI Securities Co. Ltd. Acquires Shares of 9,082 Veeva Systems Inc. (NYSE:VEEV)

SBI Securities Co. Ltd. bought a new stake in Veeva Systems Inc. (NYSE:VEEV) in the fourth quarter, Holdings Channel reports. The institutional investor bought 9,082 shares of the technology company’s stock, valued at approximately $1,909,000.

Several other hedge funds have also made changes to their positions in the business. abrdn plc raised its stake in shares of Veeva Systems by 86.1% during the third quarter. abrdn plc now owns 30,060 shares of the technology company’s stock worth $6,309,000 after purchasing an additional 13,910 shares during the last quarter. First Trust Direct Indexing L.P. increased its stake in Veeva Systems by 63.5% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 2,424 shares of the technology company’s stock valued at $509,000 after buying an additional 941 shares during the period. Americana Partners LLC raised its position in Veeva Systems by 42.3% during the 3rd quarter. Americana Partners LLC now owns 1,574 shares of the technology company’s stock worth $330,000 after buying an additional 468 shares during the last quarter. Confluence Wealth Services Inc. acquired a new stake in shares of Veeva Systems in the 3rd quarter worth $209,000. Finally, Van ECK Associates Corp boosted its holdings in shares of Veeva Systems by 3.7% in the third quarter. Van ECK Associates Corp now owns 1,995,006 shares of the technology company’s stock valued at $434,372,000 after acquiring an additional 71,525 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Stock Up 1.5 %

VEEV opened at $224.33 on Monday. The firm has a market cap of $36.42 billion, a P/E ratio of 55.39, a PEG ratio of 1.89 and a beta of 0.85. The business’s fifty day simple moving average is $223.85 and its 200 day simple moving average is $219.17. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93.

Insider Buying and Selling at Veeva Systems

In other news, SVP Jonathan Faddis sold 1,694 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total transaction of $390,128.20. Following the sale, the senior vice president now owns 8,061 shares in the company, valued at $1,856,448.30. This trade represents a 17.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 10.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Stephens started coverage on shares of Veeva Systems in a report on Friday, December 20th. They set an “overweight” rating and a $280.00 price target for the company. Citigroup increased their target price on Veeva Systems from $281.00 to $307.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Scotiabank lifted their price target on Veeva Systems from $235.00 to $240.00 and gave the company a “sector perform” rating in a research note on Friday, December 6th. Wells Fargo & Company upped their price objective on Veeva Systems from $275.00 to $285.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Finally, KeyCorp reduced their target price on Veeva Systems from $285.00 to $255.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Veeva Systems currently has an average rating of “Moderate Buy” and a consensus target price of $255.08.

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.