Clean Yield Group Invests $3.49 Million in Veeva Systems Inc. (NYSE:VEEV)

Clean Yield Group acquired a new stake in Veeva Systems Inc. (NYSE:VEEV) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 16,587 shares of the technology company’s stock, valued at approximately $3,487,000.

Other hedge funds have also recently bought and sold shares of the company. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of Veeva Systems during the third quarter worth approximately $26,000. True Wealth Design LLC increased its position in shares of Veeva Systems by 3,375.0% in the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock valued at $29,000 after purchasing an additional 135 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of Veeva Systems in the 3rd quarter valued at $49,000. Fairscale Capital LLC purchased a new stake in shares of Veeva Systems during the 2nd quarter worth $46,000. Finally, Quent Capital LLC grew its stake in shares of Veeva Systems by 794.1% during the third quarter. Quent Capital LLC now owns 304 shares of the technology company’s stock worth $64,000 after purchasing an additional 270 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Stock Down 2.8 %

Shares of VEEV traded down $6.15 on Monday, hitting $211.60. 743,700 shares of the stock traded hands, compared to its average volume of 978,577. The firm has a market capitalization of $34.35 billion, a P/E ratio of 52.25, a P/E/G ratio of 2.03 and a beta of 0.84. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93. The stock’s 50 day moving average is $222.97 and its two-hundred day moving average is $208.78.

Insider Transactions at Veeva Systems

In related news, insider Thomas D. Schwenger sold 1,126 shares of Veeva Systems stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.01, for a total transaction of $270,251.26. Following the transaction, the insider now owns 27,013 shares in the company, valued at approximately $6,483,390.13. The trade was a 4.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Jonathan Faddis sold 1,694 shares of the stock in a transaction 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 sale, the senior vice president now owns 8,061 shares of the company’s stock, valued at approximately $1,856,448.30. This represents a 17.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 10.50% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Mizuho assumed coverage on Veeva Systems in a report on Wednesday, December 4th. They set an “outperform” rating and a $275.00 price target for the company. Canaccord Genuity Group increased their price target on shares of Veeva Systems from $210.00 to $270.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Scotiabank boosted their price target on shares of Veeva Systems from $235.00 to $240.00 and gave the company a “sector perform” rating in a research report on Friday, December 6th. Piper Sandler lifted their target price 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, Evercore ISI increased their price objective on Veeva Systems from $220.00 to $245.00 and gave the company an “in-line” rating in a report on Friday, December 6th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, Veeva Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $255.74.

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.