Dynamic Technology Lab Private Ltd Purchases 1,795 Shares of Veeva Systems Inc. (NYSE:VEEV)

Dynamic Technology Lab Private Ltd boosted its holdings in Veeva Systems Inc. (NYSE:VEEV) by 29.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 7,830 shares of the technology company’s stock after buying an additional 1,795 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Veeva Systems were worth $1,646,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in VEEV. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Veeva Systems by 72.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock valued at $25,000 after purchasing an additional 50 shares in the last quarter. Centricity Wealth Management LLC purchased a new position in Veeva Systems in the 4th quarter worth about $25,000. Smithfield Trust Co lifted its stake in Veeva Systems by 145.5% during the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock valued at $27,000 after acquiring an additional 80 shares during the period. Avion Wealth boosted its holdings in shares of Veeva Systems by 635.0% during the 4th quarter. Avion Wealth now owns 147 shares of the technology company’s stock valued at $30,000 after acquiring an additional 127 shares during the last quarter. Finally, Retirement Wealth Solutions LLC bought a new stake in shares of Veeva Systems in the fourth quarter worth approximately $31,000. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Jonathan Faddis sold 787 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total transaction of $178,019.40. Following the sale, the senior vice president now directly owns 8,668 shares of the company’s stock, valued at $1,960,701.60. This represents a 8.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 10.50% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on VEEV shares. Stifel Nicolaus increased their target price on Veeva Systems from $240.00 to $272.00 and gave the company a “buy” rating in a report on Friday, December 6th. Evercore ISI raised their price objective on shares of Veeva Systems from $220.00 to $245.00 and gave the stock an “in-line” rating in a report on Friday, December 6th. Royal Bank of Canada upped their target price on shares of Veeva Systems from $275.00 to $285.00 and gave the company an “outperform” rating in a report on Friday, December 6th. The Goldman Sachs Group cut shares of Veeva Systems from a “buy” rating to a “sell” rating and dropped their price target for the stock from $261.00 to $200.00 in a research note on Thursday, January 23rd. Finally, Citigroup upped their price objective on Veeva Systems from $281.00 to $307.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $256.52.

Veeva Systems Stock Performance

VEEV opened at $213.59 on Friday. The stock has a market capitalization of $34.75 billion, a price-to-earnings ratio of 52.74, a PEG ratio of 1.89 and a beta of 0.88. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93. The company has a fifty day moving average of $231.73 and a 200 day moving average of $223.01.

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.