Veeva Systems Inc. (NYSE:VEEV) Shares Acquired by EFG Asset Management Americas Corp.

EFG Asset Management Americas Corp. boosted its stake in Veeva Systems Inc. (NYSE:VEEV) by 42.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,135 shares of the technology company’s stock after buying an additional 5,403 shares during the period. EFG Asset Management Americas Corp.’s holdings in Veeva Systems were worth $3,319,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Advisors Asset Management Inc. purchased a new stake in Veeva Systems during the first quarter worth about $28,000. DSM Capital Partners LLC purchased a new stake in Veeva Systems during the 4th quarter worth approximately $29,000. Vermillion & White Wealth Management Group LLC acquired a new stake in Veeva Systems during the 4th quarter worth approximately $32,000. Blue Trust Inc. boosted its position in Veeva Systems by 3,460.0% in the 2nd quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock valued at $33,000 after buying an additional 173 shares during the period. Finally, First Financial Corp IN purchased a new position in Veeva Systems in the 1st quarter valued at approximately $35,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on VEEV. Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 price objective on shares of Veeva Systems in a research note on Thursday, August 29th. Barclays increased their price target on Veeva Systems from $220.00 to $240.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Needham & Company LLC reissued a “buy” rating and set a $260.00 price objective on shares of Veeva Systems in a research report on Thursday, August 29th. Robert W. Baird upped their target price on shares of Veeva Systems from $245.00 to $251.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Finally, Guggenheim lifted their price target on shares of Veeva Systems from $211.00 to $233.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $230.57.

Insider Buying and Selling

In other news, SVP Jonathan Faddis sold 2,353 shares of Veeva Systems stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total value of $470,600.00. Following the transaction, the senior vice president now directly owns 9,035 shares of the company’s stock, valued at approximately $1,807,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 10.50% of the stock is currently owned by company insiders.

Veeva Systems Price Performance

Shares of VEEV traded up $0.58 during midday trading on Friday, reaching $215.89. 775,935 shares of the stock were exchanged, compared to its average volume of 965,400. The company has a market capitalization of $34.90 billion, a price-to-earnings ratio of 63.71, a PEG ratio of 2.12 and a beta of 0.81. Veeva Systems Inc. has a twelve month low of $162.72 and a twelve month high of $236.90. The business’s 50-day moving average price is $192.22 and its 200 day moving average price is $202.00.

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.