Tidal Investments LLC boosted its position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 77.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,330 shares of the technology company's stock after purchasing an additional 9,724 shares during the period. Tidal Investments LLC's holdings in Veeva Systems were worth $4,686,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Veeva Systems in the third quarter valued at about $26,000. True Wealth Design LLC raised its stake in shares of Veeva Systems by 3,375.0% during the third 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. lifted its stake in shares of Veeva Systems by 3,460.0% in the 2nd quarter. Blue Trust Inc. now owns 178 shares of the technology company's stock valued at $33,000 after purchasing an additional 173 shares during the period. DT Investment Partners LLC acquired a new position in Veeva Systems in the second quarter valued at about $35,000. Finally, Fairscale Capital LLC bought a new position in Veeva Systems during the 2nd quarter worth approximately $46,000. 88.20% of the stock is owned by institutional investors and hedge funds.
Several research firms have weighed in on VEEV. Guggenheim increased their target price on shares of Veeva Systems from $233.00 to $249.00 and gave the stock a "buy" rating in a report on Tuesday, October 1st. Scotiabank raised their price objective on Veeva Systems from $235.00 to $240.00 and gave the stock a "sector perform" rating in a research note on Friday, December 6th. StockNews.com raised Veeva Systems from a "hold" rating to a "buy" rating in a research note on Saturday, November 9th. JPMorgan Chase & Co. increased their price target on Veeva Systems from $203.00 to $208.00 and gave the stock a "neutral" rating in a report on Monday, September 9th. Finally, Mizuho began coverage on Veeva Systems in a report on Wednesday, December 4th. They set an "outperform" rating and a $275.00 price objective on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $255.35.
Get Our Latest Research Report on VEEV
In other news, SVP Jonathan Faddis sold 1,694 shares of the firm's stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total transaction 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. This trade represents a 17.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 approximately $6,483,390.13. This trade represents a 4.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 10.50% of the company's stock.
Shares of VEEV opened at $228.78 on Friday. The company has a market cap of $37.05 billion, a PE ratio of 56.49, a price-to-earnings-growth ratio of 2.07 and a beta of 0.82. The firm has a 50-day moving average of $221.36 and a 200-day moving average of $204.00. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Veeva Systems, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Veeva Systems wasn't on the list.
While Veeva Systems currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.