Kestra Investment Management LLC Acquires New Stake in Veeva Systems Inc. (NYSE:VEEV)

Kestra Investment Management LLC acquired a new stake in shares of Veeva Systems Inc. (NYSE:VEEV) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 2,312 shares of the technology company’s stock, valued at approximately $485,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Patriot Financial Group Insurance Agency LLC increased its position in Veeva Systems by 0.7% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 6,924 shares of the technology company’s stock valued at $1,453,000 after buying an additional 48 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its holdings in shares of Veeva Systems by 1.2% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,307 shares of the technology company’s stock worth $904,000 after purchasing an additional 50 shares in the last quarter. Clearbridge Investments LLC increased its holdings in shares of Veeva Systems by 0.4% in the 2nd quarter. Clearbridge Investments LLC now owns 11,682 shares of the technology company’s stock worth $2,138,000 after purchasing an additional 52 shares in the last quarter. Park Place Capital Corp increased its holdings in shares of Veeva Systems by 11.5% in the 3rd quarter. Park Place Capital Corp now owns 574 shares of the technology company’s stock worth $120,000 after purchasing an additional 59 shares in the last quarter. Finally, Quintet Private Bank Europe S.A. increased its holdings in shares of Veeva Systems by 13.4% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 516 shares of the technology company’s stock worth $108,000 after purchasing an additional 61 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $240.01, for a total transaction of $270,251.26. Following the sale, the insider now directly owns 27,013 shares of the company’s stock, valued at $6,483,390.13. This trade represents a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 10.50% of the company’s stock.

Veeva Systems Stock Up 0.5 %

NYSE:VEEV opened at $227.85 on Monday. The business’s 50-day simple moving average is $215.71 and its two-hundred day simple moving average is $201.92. The stock has a market cap of $36.90 billion, a PE ratio of 60.76, a P/E/G ratio of 2.21 and a beta of 0.81. Veeva Systems Inc. has a 52 week low of $165.12 and a 52 week high of $240.68.

Analyst Ratings Changes

A number of analysts have commented on the company. Truist Financial lifted their target price on Veeva Systems from $197.00 to $207.00 and gave the stock a “hold” rating in a report on Tuesday, September 3rd. Guggenheim lifted their target price on Veeva Systems from $233.00 to $249.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. BNP Paribas assumed coverage on Veeva Systems in a report on Tuesday, October 8th. They issued an “outperform” rating and a $286.00 target price for the company. Barclays lifted their target price on Veeva Systems from $240.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $260.00 target price on shares of Veeva Systems in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $236.92.

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.