Davidson Capital Management Inc. Raises Stake in Veeva Systems Inc. (NYSE:VEEV)

Davidson Capital Management Inc. increased its position in Veeva Systems Inc. (NYSE:VEEV) by 4.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 15,035 shares of the technology company’s stock after buying an additional 691 shares during the period. Davidson Capital Management Inc.’s holdings in Veeva Systems were worth $3,161,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of VEEV. MassMutual Private Wealth & Trust FSB raised its stake in Veeva Systems by 72.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock valued at $25,000 after purchasing an additional 50 shares during the period. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in Veeva Systems during the 3rd quarter valued at approximately $26,000. True Wealth Design LLC raised its position in shares of Veeva Systems by 3,375.0% during the third quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock valued at $29,000 after buying an additional 135 shares during the last quarter. Retirement Wealth Solutions LLC purchased a new position in shares of Veeva Systems in the fourth quarter worth $31,000. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Veeva Systems during the third quarter worth $49,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Price Performance

VEEV stock opened at $234.43 on Wednesday. Veeva Systems Inc. has a 12 month low of $170.25 and a 12 month high of $258.93. The firm’s 50-day moving average is $224.68 and its 200 day moving average is $215.12. The company has a market capitalization of $38.06 billion, a PE ratio of 57.88, a P/E/G ratio of 1.97 and a beta of 0.85.

Wall Street Analysts Forecast Growth

Several brokerages have commented on VEEV. Needham & Company LLC reiterated a “buy” rating and issued a $270.00 price target on shares of Veeva Systems in a research note on Friday, January 17th. Piper Sandler boosted their target price on Veeva Systems from $280.00 to $290.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. raised their price target on Veeva Systems from $208.00 to $218.00 and gave the company a “neutral” rating in a report on Monday, December 16th. Stifel Nicolaus upped their price objective on Veeva Systems from $240.00 to $272.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Finally, Robert W. Baird increased their target price on Veeva Systems from $275.00 to $283.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, Veeva Systems presently has an average rating of “Moderate Buy” and a consensus target price of $253.96.

Insider Transactions at Veeva Systems

In related news, SVP Jonathan Faddis sold 1,694 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total value of $390,128.20. Following the completion of the sale, the senior vice president now owns 8,061 shares in the company, valued at approximately $1,856,448.30. The trade was a 17.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 10.50% 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.