Rafferty Asset Management LLC Acquires 3,077 Shares of Veeva Systems Inc. (NYSE:VEEV)

Rafferty Asset Management LLC boosted its holdings in shares of Veeva Systems Inc. (NYSE:VEEVFree Report) by 24.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,899 shares of the technology company’s stock after purchasing an additional 3,077 shares during the period. Rafferty Asset Management LLC’s holdings in Veeva Systems were worth $3,061,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Operose Advisors LLC bought a new position in shares of Veeva Systems during the third quarter valued at approximately $29,000. DSM Capital Partners LLC bought a new position in Veeva Systems in the 4th quarter worth $29,000. Parkside Financial Bank & Trust lifted its position in shares of Veeva Systems by 81.9% in the 3rd quarter. Parkside Financial Bank & Trust now owns 171 shares of the technology company’s stock worth $35,000 after purchasing an additional 77 shares during the period. American National Bank bought a new stake in shares of Veeva Systems during the 4th quarter valued at about $36,000. Finally, Atticus Wealth Management LLC increased its position in shares of Veeva Systems by 500.0% during the third quarter. Atticus Wealth Management LLC now owns 180 shares of the technology company’s stock valued at $37,000 after buying an additional 150 shares during the period. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Trading Down 1.0 %

NYSE:VEEV opened at $183.14 on Friday. Veeva Systems Inc. has a 12 month low of $162.72 and a 12 month high of $236.90. The company has a market cap of $29.54 billion, a PE ratio of 54.02, a price-to-earnings-growth ratio of 1.81 and a beta of 0.80. The company has a 50 day simple moving average of $202.46 and a two-hundred day simple moving average of $204.17.

Insider Activity

In other news, EVP Alan Mateo sold 3,391 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $200.86, for a total transaction of $681,116.26. Following the completion of the sale, the executive vice president now owns 21,983 shares of the company’s stock, valued at approximately $4,415,505.38. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO Timothy S. Cabral sold 15,000 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $184.33, for a total transaction of $2,764,950.00. Following the completion of the sale, the chief financial officer now owns 8,391 shares of the company’s stock, valued at approximately $1,546,713.03. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Alan Mateo sold 3,391 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $200.86, for a total transaction of $681,116.26. Following the sale, the executive vice president now directly owns 21,983 shares of the company’s stock, valued at approximately $4,415,505.38. The disclosure for this sale can be found here. Insiders sold a total of 21,989 shares of company stock valued at $4,192,363 in the last 90 days. Company insiders own 10.50% of the company’s stock.

Wall Street Analysts Forecast Growth

VEEV has been the topic of several research reports. Bank of America cut their price objective on Veeva Systems from $240.00 to $204.00 and set a “neutral” rating on the stock in a research report on Friday, May 31st. UBS Group reduced their price target on Veeva Systems from $235.00 to $185.00 and set a “neutral” rating on the stock in a research note on Friday, May 31st. Needham & Company LLC reissued a “buy” rating and set a $260.00 price objective on shares of Veeva Systems in a research report on Friday, May 31st. Jefferies Financial Group upped their target price on shares of Veeva Systems from $225.00 to $270.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Finally, The Goldman Sachs Group boosted their price objective on shares of Veeva Systems from $219.00 to $248.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $228.25.

View Our Latest Analysis on Veeva Systems

Veeva Systems Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Veeva Systems (NYSE:VEEV)

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