Focus Financial Network Inc. Purchases Shares of 713 Veeva Systems Inc. $VEEV

Focus Financial Network Inc. purchased a new stake in Veeva Systems Inc. (NYSE:VEEV) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 713 shares of the technology company’s stock, valued at approximately $205,000.

Other large investors have also made changes to their positions in the company. Abound Financial LLC bought a new stake in Veeva Systems during the 1st quarter worth about $25,000. ORG Partners LLC acquired a new position in Veeva Systems during the 1st quarter valued at about $26,000. Golden State Wealth Management LLC raised its position in shares of Veeva Systems by 152.9% in the 1st quarter. Golden State Wealth Management LLC now owns 129 shares of the technology company’s stock valued at $30,000 after acquiring an additional 78 shares during the period. Wayfinding Financial LLC acquired a new stake in shares of Veeva Systems in the 1st quarter valued at approximately $32,000. Finally, Key Financial Inc raised its position in shares of Veeva Systems by 161.0% in the 1st quarter. Key Financial Inc now owns 154 shares of the technology company’s stock valued at $36,000 after acquiring an additional 95 shares during the period. Institutional investors own 88.20% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on VEEV shares. Needham & Company LLC raised their target price on shares of Veeva Systems from $300.00 to $355.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. Morgan Stanley raised their target price on shares of Veeva Systems from $210.00 to $222.00 and gave the company an “underweight” rating in a research note on Thursday, August 28th. Barclays raised their price target on Veeva Systems from $300.00 to $325.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. Canaccord Genuity Group raised their price target on Veeva Systems from $270.00 to $300.00 and gave the company a “hold” rating in a report on Thursday, August 28th. Finally, Wells Fargo & Company lifted their target price on Veeva Systems from $300.00 to $326.00 and gave the stock an “overweight” rating in a report on Tuesday, August 26th. Seventeen analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $301.48.

Veeva Systems Stock Down 0.8%

Veeva Systems stock opened at $276.98 on Monday. Veeva Systems Inc. has a 12-month low of $200.30 and a 12-month high of $296.72. The business’s 50-day moving average price is $280.65 and its two-hundred day moving average price is $259.41. The stock has a market cap of $45.40 billion, a PE ratio of 56.87, a P/E/G ratio of 2.15 and a beta of 0.95.

Insider Transactions at Veeva Systems

In other news, Director Priscilla Hung sold 172 shares of the business’s stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $283.00, for a total transaction of $48,676.00. Following the sale, the director directly owned 4,137 shares in the company, valued at approximately $1,170,771. The trade was a 3.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Jonathan Faddis sold 720 shares of the business’s stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $285.62, for a total value of $205,646.40. Following the sale, the senior vice president owned 7,902 shares in the company, valued at approximately $2,256,969.24. This trade represents a 8.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,063 shares of company stock worth $302,955. Company insiders own 10.30% of the company’s stock.

Veeva Systems 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.