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

Davidson Capital Management Inc. grew its holdings in Veeva Systems Inc. (NYSE:VEEV) by 4.8% in the 4th quarter, HoldingsChannel reports. The firm owned 15,035 shares of the technology company’s stock after buying an additional 691 shares during the quarter. Davidson Capital Management Inc.’s holdings in Veeva Systems were worth $3,161,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. General American Investors Co. Inc. bought a new position in Veeva Systems in the third quarter worth approximately $5,133,000. Toronto Dominion Bank raised its position in shares of Veeva Systems by 39.1% in the 3rd quarter. Toronto Dominion Bank now owns 20,180 shares of the technology company’s stock worth $4,235,000 after acquiring an additional 5,673 shares in the last quarter. Procyon Advisors LLC bought a new position in shares of Veeva Systems in the 3rd quarter worth $712,000. Principal Financial Group Inc. lifted its stake in shares of Veeva Systems by 138.9% during the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock worth $457,366,000 after purchasing an additional 1,267,061 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its position in Veeva Systems by 3.6% during the third quarter. Oppenheimer Asset Management Inc. now owns 78,000 shares of the technology company’s stock valued at $16,370,000 after purchasing an additional 2,733 shares in the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on VEEV shares. Wells Fargo & Company boosted their target price on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Stephens assumed coverage on shares of Veeva Systems in a research note on Friday, December 20th. They set an “overweight” rating and a $280.00 price objective for the company. Bank of America raised their target price on shares of Veeva Systems from $280.00 to $290.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Piper Sandler upped their price target on Veeva Systems from $280.00 to $290.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Finally, Truist Financial lowered their price objective on Veeva Systems from $261.00 to $210.00 and set a “hold” rating for the company in a research report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, Veeva Systems has a consensus rating of “Moderate Buy” and an average target price of $253.96.

Veeva Systems Stock Down 1.4 %

Shares of VEEV stock opened at $234.43 on Wednesday. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93. The stock has a market cap of $38.06 billion, a PE ratio of 57.88, a price-to-earnings-growth ratio of 1.97 and a beta of 0.85. The business has a 50-day simple moving average of $224.68 and a 200-day simple moving average of $215.12.

Insider Activity at Veeva Systems

In other news, SVP Jonathan Faddis sold 1,694 shares of the firm’s stock in a transaction dated 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 directly owns 8,061 shares in the company, valued at $1,856,448.30. This trade represents a 17.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 10.50% of the stock is owned by company insiders.

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.