Two Sigma Advisers LP Acquires 183,400 Shares of Veeva Systems Inc. (NYSE:VEEV)

Two Sigma Advisers LP grew its holdings in Veeva Systems Inc. (NYSE:VEEV) by 54.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 519,400 shares of the technology company’s stock after acquiring an additional 183,400 shares during the quarter. Two Sigma Advisers LP’s holdings in Veeva Systems were worth $109,204,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB boosted its position in shares of Veeva Systems by 72.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock valued at $25,000 after acquiring an additional 50 shares during the period. Centricity Wealth Management LLC bought a new stake in shares of Veeva Systems in the fourth quarter valued at approximately $25,000. Smithfield Trust Co boosted its position in shares of Veeva Systems by 145.5% in the fourth quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock valued at $27,000 after acquiring an additional 80 shares during the period. Avion Wealth boosted its position in shares of Veeva Systems by 635.0% in the fourth quarter. Avion Wealth now owns 147 shares of the technology company’s stock valued at $30,000 after acquiring an additional 127 shares during the period. Finally, Venturi Wealth Management LLC boosted its position in shares of Veeva Systems by 2,716.7% in the fourth quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company’s stock valued at $36,000 after acquiring an additional 163 shares during the period. 88.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on VEEV. JPMorgan Chase & Co. increased their price objective on Veeva Systems from $218.00 to $249.00 and gave the company a “neutral” rating in a research report on Thursday, March 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $270.00 target price on shares of Veeva Systems in a research report on Thursday, March 6th. Piper Sandler reduced their target price on Veeva Systems from $290.00 to $255.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Robert W. Baird raised their target price on Veeva Systems from $283.00 to $285.00 and gave the stock an “outperform” rating in a research report on Thursday, March 6th. Finally, Morgan Stanley raised their target price on Veeva Systems from $195.00 to $201.00 and gave the stock an “underweight” rating in a research report on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Veeva Systems currently has an average rating of “Moderate Buy” and a consensus target price of $254.92.

Insider Activity at Veeva Systems

In related news, insider Thomas D. Schwenger sold 1,200 shares of Veeva Systems stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $220.97, for a total value of $265,164.00. Following the completion of the transaction, the insider now directly owns 25,889 shares of the company’s stock, valued at $5,720,692.33. The trade was a 4.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Timothy S. Cabral sold 3,882 shares of Veeva Systems stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $216.83, for a total value of $841,734.06. Following the completion of the transaction, the director now directly owns 5,500 shares of the company’s stock, valued at $1,192,565. This represents a 41.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,869 shares of company stock valued at $1,284,917 over the last ninety days. 10.30% of the stock is owned by insiders.

Veeva Systems Stock Performance

Shares of NYSE:VEEV opened at $242.48 on Monday. The company’s fifty day moving average is $228.63 and its 200-day moving average is $226.41. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93. The company has a market capitalization of $39.45 billion, a PE ratio of 59.87, a P/E/G ratio of 1.89 and a beta of 0.96.

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.