17,377 Shares in Veeva Systems Inc. (NYSE:VEEV) Acquired by Sone Capital Management LLC

Sone Capital Management LLC bought a new stake in Veeva Systems Inc. (NYSE:VEEV) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 17,377 shares of the technology company’s stock, valued at approximately $3,654,000.

Other hedge funds have also modified their holdings of the company. Leigh Baldwin & CO. LLC bought a new stake in shares of Veeva Systems in the 4th quarter worth about $685,355,000. Norges Bank bought a new position in shares of Veeva Systems in the fourth quarter valued at approximately $294,785,000. JPMorgan Chase & Co. increased its position in shares of Veeva Systems by 73.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company’s stock valued at $536,972,000 after purchasing an additional 1,081,501 shares during the period. Wealthfront Advisers LLC lifted its holdings in Veeva Systems by 29,760.5% in the 4th quarter. Wealthfront Advisers LLC now owns 1,048,700 shares of the technology company’s stock valued at $220,489,000 after acquiring an additional 1,045,188 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Veeva Systems by 36.0% during the fourth quarter. Principal Financial Group Inc. now owns 2,964,025 shares of the technology company’s stock worth $623,186,000 after buying an additional 784,741 shares in the last quarter. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Veeva Systems Stock Up 0.4%

NYSE:VEEV opened at $242.48 on Monday. The business’s 50-day moving average price is $228.63 and its two-hundred day moving average price is $226.41. The stock has a market cap of $39.45 billion, a P/E ratio of 59.87, a PEG ratio of 1.89 and a beta of 0.96. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93.

Insider Transactions at Veeva Systems

In other news, Director Timothy S. Cabral sold 3,882 shares of the firm’s stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $216.83, for a total transaction of $841,734.06. Following the sale, the director now owns 5,500 shares of the company’s stock, valued at $1,192,565. This trade represents a 41.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Jonathan Faddis sold 787 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total value of $178,019.40. Following the completion of the transaction, the senior vice president now directly owns 8,668 shares in the company, valued at approximately $1,960,701.60. This represents a 8.32% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,869 shares of company stock worth $1,284,917. 10.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

VEEV has been the topic of a number of recent analyst reports. KeyCorp cut their price target on shares of Veeva Systems from $260.00 to $250.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Scotiabank upped their price objective on shares of Veeva Systems from $240.00 to $245.00 and gave the stock a “sector perform” rating in a report on Thursday, March 6th. Piper Sandler lowered their price target on Veeva Systems from $290.00 to $255.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $270.00 price target on shares of Veeva Systems in a research report on Thursday, March 6th. Finally, Morgan Stanley increased their target price on shares of Veeva Systems from $195.00 to $201.00 and gave the company an “underweight” rating in a research note on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $254.92.

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.