Geneos Wealth Management Inc. Raises Stake in Veeva Systems Inc. $VEEV

Geneos Wealth Management Inc. increased its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 7.8% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 2,200 shares of the technology company’s stock after purchasing an additional 160 shares during the period. Geneos Wealth Management Inc.’s holdings in Veeva Systems were worth $510,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Veeva Systems by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 14,760,566 shares of the technology company’s stock valued at $3,418,990,000 after acquiring an additional 315,421 shares in the last quarter. Alliancebernstein L.P. grew its position in Veeva Systems by 10.7% during the 1st quarter. Alliancebernstein L.P. now owns 5,499,651 shares of the technology company’s stock worth $1,273,884,000 after acquiring an additional 532,269 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its position in Veeva Systems by 0.7% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,203,867 shares of the technology company’s stock worth $1,205,372,000 after acquiring an additional 34,169 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Veeva Systems by 20.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,992,372 shares of the technology company’s stock worth $924,754,000 after buying an additional 689,700 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Veeva Systems by 7.5% in the 1st quarter. JPMorgan Chase & Co. now owns 3,230,758 shares of the technology company’s stock worth $748,341,000 after buying an additional 225,125 shares during the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Insider Buying and Selling at Veeva Systems

In related news, Director Priscilla Hung sold 172 shares of Veeva Systems stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $283.00, for a total value of $48,676.00. Following the completion of the sale, the director owned 4,137 shares of the company’s stock, valued at $1,170,771. The trade was a 3.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Jonathan Faddis sold 720 shares of Veeva Systems stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $285.62, for a total value of $205,646.40. Following the completion of the sale, the senior vice president directly owned 7,902 shares of the company’s stock, valued at $2,256,969.24. The trade was a 8.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,063 shares of company stock valued at $302,955 in the last 90 days. Company insiders own 10.30% of the company’s stock.

Veeva Systems Price Performance

VEEV stock opened at $276.21 on Monday. Veeva Systems Inc. has a 1-year low of $200.30 and a 1-year high of $296.72. The business has a fifty day moving average price of $281.13 and a 200-day moving average price of $257.59. The stock has a market capitalization of $45.27 billion, a P/E ratio of 56.72, a P/E/G ratio of 2.15 and a beta of 0.95.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Citigroup lifted their price target on Veeva Systems from $329.00 to $349.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. Evercore ISI lifted their price target on Veeva Systems from $285.00 to $295.00 and gave the company an “in-line” rating in a research report on Thursday, August 28th. JPMorgan Chase & Co. upgraded Veeva Systems from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $290.00 to $330.00 in a research report on Monday, September 8th. Piper Sandler lifted their price target on Veeva Systems from $325.00 to $355.00 and gave the company an “overweight” rating in a research report on Thursday, August 28th. Finally, BTIG Research lifted their price target on Veeva Systems from $335.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. Seventeen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $301.48.

About Veeva Systems

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.