Tidal Investments LLC Acquires 9,724 Shares of Veeva Systems Inc. (NYSE:VEEV)

Tidal Investments LLC raised its holdings in Veeva Systems Inc. (NYSE:VEEV) by 77.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,330 shares of the technology company’s stock after purchasing an additional 9,724 shares during the period. Tidal Investments LLC’s holdings in Veeva Systems were worth $4,686,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in VEEV. Massachusetts Financial Services Co. MA raised its position in shares of Veeva Systems by 64.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company’s stock valued at $744,084,000 after buying an additional 1,392,256 shares in the last quarter. State Street Corp increased its stake in Veeva Systems by 1.5% during the 3rd quarter. State Street Corp now owns 3,293,141 shares of the technology company’s stock worth $691,132,000 after acquiring an additional 47,872 shares during the period. FMR LLC raised its holdings in Veeva Systems by 25.7% in the 3rd quarter. FMR LLC now owns 2,981,244 shares of the technology company’s stock valued at $625,674,000 after acquiring an additional 610,021 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Veeva Systems by 5.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,765,236 shares of the technology company’s stock valued at $579,630,000 after acquiring an additional 149,807 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in shares of Veeva Systems by 138.9% during the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock worth $457,366,000 after purchasing an additional 1,267,061 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on VEEV. Citigroup boosted their price target on Veeva Systems from $281.00 to $307.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Mizuho initiated coverage on shares of Veeva Systems in a report on Wednesday, December 4th. They issued an “outperform” rating and a $275.00 target price on the stock. UBS Group upped their price target on shares of Veeva Systems from $185.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. Robert W. Baird increased their price target on shares of Veeva Systems from $275.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Finally, Piper Sandler boosted their price objective on shares of Veeva Systems from $280.00 to $290.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. One investment 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $255.35.

Veeva Systems Stock Down 1.6 %

Shares of Veeva Systems stock opened at $228.78 on Friday. The stock has a market cap of $37.05 billion, a price-to-earnings ratio of 56.49, a P/E/G ratio of 2.07 and a beta of 0.82. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93. The company’s fifty day moving average is $221.36 and its 200 day moving average is $204.00.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of the stock in a transaction dated Wednesday, December 4th. The stock was 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 directly owns 8,061 shares in the company, valued at approximately $1,856,448.30. This trade represents a 17.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Thomas D. Schwenger sold 1,126 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.01, for a total value of $270,251.26. Following the completion of the transaction, the insider now directly owns 27,013 shares in the company, valued at $6,483,390.13. This represents a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 10.50% of the company’s stock.

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.