Dynamic Technology Lab Private Ltd Purchases 1,795 Shares of Veeva Systems Inc. (NYSE:VEEV)

Dynamic Technology Lab Private Ltd grew its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 29.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,830 shares of the technology company’s stock after purchasing an additional 1,795 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Veeva Systems were worth $1,646,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of VEEV. Cardinal Capital Management grew its position in Veeva Systems by 0.3% during the fourth quarter. Cardinal Capital Management now owns 15,727 shares of the technology company’s stock valued at $3,307,000 after acquiring an additional 44 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of 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 last quarter. Patriot Financial Group Insurance Agency LLC raised its position in Veeva Systems by 0.7% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 6,975 shares of the technology company’s stock worth $1,467,000 after purchasing an additional 51 shares during the period. CHICAGO TRUST Co NA lifted its stake in Veeva Systems by 2.9% in the fourth quarter. CHICAGO TRUST Co NA now owns 1,880 shares of the technology company’s stock worth $395,000 after purchasing an additional 53 shares during the last quarter. Finally, Old North State Wealth Management LLC boosted its position in Veeva Systems by 0.4% during the fourth quarter. Old North State Wealth Management LLC now owns 15,351 shares of the technology company’s stock valued at $3,228,000 after buying an additional 55 shares during the period. 88.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on VEEV. Citigroup boosted their target price on Veeva Systems from $281.00 to $307.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Evercore ISI boosted their price objective on Veeva Systems from $220.00 to $245.00 and gave the company an “in-line” rating in a research report on Friday, December 6th. StockNews.com raised Veeva Systems from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Stifel Nicolaus lifted their target price on shares of Veeva Systems from $240.00 to $272.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, Wells Fargo & Company increased their price target on shares of Veeva Systems from $275.00 to $285.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $256.52.

Insiders Place Their Bets

In other Veeva Systems news, SVP Jonathan Faddis sold 787 shares of the business’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total value of $178,019.40. Following the sale, the senior vice president now directly owns 8,668 shares of the company’s stock, valued at approximately $1,960,701.60. The trade was a 8.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 10.50% of the company’s stock.

Veeva Systems Price Performance

Shares of Veeva Systems stock opened at $213.59 on Friday. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93. The firm has a market cap of $34.75 billion, a price-to-earnings ratio of 52.74, a PEG ratio of 1.89 and a beta of 0.88. The company has a 50-day moving average of $231.73 and a 200 day moving average of $223.01.

About Veeva Systems

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.