Two Sigma Investments LP Boosts Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Two Sigma Investments LP boosted its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 31.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 344,540 shares of the technology company’s stock after purchasing an additional 81,850 shares during the period. Two Sigma Investments LP’s holdings in Veeva Systems were worth $72,440,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in VEEV. Cardinal Capital Management increased its holdings in shares of 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 in the last quarter. Johnson Financial Group Inc. boosted its stake in Veeva Systems by 22.7% in the 4th quarter. Johnson Financial Group Inc. now owns 238 shares of the technology company’s stock worth $56,000 after purchasing an additional 44 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position 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 last quarter. Patriot Financial Group Insurance Agency LLC increased its stake in Veeva Systems by 0.7% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 6,975 shares of the technology company’s stock valued at $1,467,000 after purchasing an additional 51 shares in the last quarter. Finally, Old North State Wealth Management LLC raised its holdings in Veeva Systems by 0.4% in the fourth quarter. Old North State Wealth Management LLC now owns 15,351 shares of the technology company’s stock worth $3,228,000 after buying an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Down 1.3%

Shares of VEEV opened at $239.62 on Tuesday. The business has a 50-day simple moving average of $228.75 and a two-hundred day simple moving average of $226.60. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93. The stock has a market cap of $38.99 billion, a price-to-earnings ratio of 59.17, a PEG ratio of 1.89 and a beta of 0.96.

Insider Activity at Veeva Systems

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,200 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $5,720,692.33. This represents a 4.43% decrease in their position. The transaction was disclosed in a document filed 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 that occurred on 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 in the company, valued at approximately $1,192,565. The trade was a 41.38% 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 owned by company insiders.

Analyst Upgrades and Downgrades

VEEV has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price target on shares of Veeva Systems from $218.00 to $249.00 and gave the company a “neutral” rating in a report on Thursday, March 20th. Scotiabank increased their target price on Veeva Systems from $240.00 to $245.00 and gave the company a “sector perform” rating in a research note on Thursday, March 6th. Stephens restated an “overweight” rating and issued a $280.00 price target on shares of Veeva Systems in a research note on Thursday, March 6th. Morgan Stanley upped their price target on Veeva Systems from $195.00 to $201.00 and gave the company an “underweight” rating in a report on Thursday, March 6th. Finally, StockNews.com upgraded Veeva Systems from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.