Bares Capital Management Inc. Grows Position in Veeva Systems Inc. (NYSE:VEEV)

Bares Capital Management Inc. increased its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 4.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 121,830 shares of the technology company’s stock after acquiring an additional 5,231 shares during the quarter. Veeva Systems comprises 2.3% of Bares Capital Management Inc.’s holdings, making the stock its 9th biggest position. Bares Capital Management Inc.’s holdings in Veeva Systems were worth $25,568,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Veeva Systems in the third quarter worth about $26,000. True Wealth Design LLC raised its position in shares of Veeva Systems by 3,375.0% in the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock valued at $29,000 after purchasing an additional 135 shares during the last quarter. Blue Trust Inc. boosted its stake in Veeva Systems by 3,460.0% in the 2nd quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock worth $33,000 after purchasing an additional 173 shares in the last quarter. DT Investment Partners LLC purchased a new stake in Veeva Systems during the 2nd quarter worth approximately $35,000. Finally, Fairscale Capital LLC acquired a new position in shares of Veeva Systems in the second quarter valued at about $46,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Trading Down 1.8 %

Shares of NYSE VEEV opened at $245.99 on Tuesday. Veeva Systems Inc. has a twelve month low of $169.98 and a twelve month high of $258.93. The firm has a 50-day moving average of $219.02 and a two-hundred day moving average of $203.12. The company has a market capitalization of $39.83 billion, a price-to-earnings ratio of 60.74, a PEG ratio of 2.43 and a beta of 0.82.

Insider Activity at Veeva Systems

In other news, insider Thomas D. Schwenger sold 1,126 shares of Veeva Systems stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $240.01, for a total value of $270,251.26. Following the transaction, 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 SEC, which is available at this link. Also, SVP Jonathan Faddis sold 1,694 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total transaction of $390,128.20. Following the completion of the sale, the senior vice president now owns 8,061 shares of the company’s stock, valued at approximately $1,856,448.30. This trade represents a 17.37 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 10.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Guggenheim boosted their target price on shares of Veeva Systems from $233.00 to $249.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. JPMorgan Chase & Co. increased their price target on Veeva Systems from $203.00 to $208.00 and gave the company a “neutral” rating in a report on Monday, September 9th. Royal Bank of Canada lifted their price target on shares of Veeva Systems from $275.00 to $285.00 and gave the company an “outperform” rating in a research report on Friday. Bank of America raised their price target on Veeva Systems from $280.00 to $290.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, BNP Paribas assumed coverage on Veeva Systems in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $286.00 price objective on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $255.35.

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.