Investment Research & Advisory Group Inc. Has $4.08 Million Position in Veeva Systems Inc. $VEEV

Investment Research & Advisory Group Inc. boosted its position in Veeva Systems Inc. (NYSE:VEEV) by 0.4% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 14,163 shares of the technology company’s stock after buying an additional 58 shares during the period. Veeva Systems comprises about 1.5% of Investment Research & Advisory Group Inc.’s portfolio, making the stock its 20th biggest holding. Investment Research & Advisory Group Inc.’s holdings in Veeva Systems were worth $4,079,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the company. TFB Advisors LLC grew its stake in shares of Veeva Systems by 1.2% in the first quarter. TFB Advisors LLC now owns 3,586 shares of the technology company’s stock valued at $831,000 after acquiring an additional 44 shares in the last quarter. Triangle Securities Wealth Management grew its position in shares of Veeva Systems by 0.8% during the 2nd quarter. Triangle Securities Wealth Management now owns 5,782 shares of the technology company’s stock worth $1,665,000 after purchasing an additional 45 shares in the last quarter. Marks Group Wealth Management Inc increased its holdings in shares of Veeva Systems by 3.3% during the first quarter. Marks Group Wealth Management Inc now owns 1,427 shares of the technology company’s stock worth $331,000 after purchasing an additional 46 shares during the period. Harbour Investments Inc. raised its position in shares of Veeva Systems by 7.6% in the first quarter. Harbour Investments Inc. now owns 789 shares of the technology company’s stock valued at $183,000 after buying an additional 56 shares in the last quarter. Finally, Parallel Advisors LLC boosted its stake in shares of Veeva Systems by 4.7% in the second quarter. Parallel Advisors LLC now owns 1,236 shares of the technology company’s stock valued at $356,000 after buying an additional 56 shares during the period. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Performance

Shares of NYSE:VEEV opened at $290.44 on Monday. Veeva Systems Inc. has a 52-week low of $200.30 and a 52-week high of $296.72. The company has a market capitalization of $47.61 billion, a PE ratio of 59.64, a price-to-earnings-growth ratio of 2.24 and a beta of 0.95. The company has a fifty day moving average of $280.76 and a 200-day moving average of $261.01.

Insider Activity

In other news, SVP Jonathan Faddis sold 720 shares of the company’s stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $285.62, for a total value of $205,646.40. Following the completion of the transaction, the senior vice president owned 7,902 shares of the company’s stock, valued at $2,256,969.24. This represents a 8.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Priscilla Hung sold 172 shares of Veeva Systems stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $283.00, for a total transaction of $48,676.00. Following the sale, the director owned 4,137 shares in the company, valued at approximately $1,170,771. This represents a 3.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,063 shares of company stock valued at $302,955 over the last quarter. Corporate insiders own 10.30% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Oppenheimer reiterated an “outperform” rating and set a $325.00 target price on shares of Veeva Systems in a research report on Thursday, August 28th. JPMorgan Chase & Co. upgraded shares of Veeva Systems from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $290.00 to $330.00 in a research report on Monday, September 8th. Wells Fargo & Company increased their price target on shares of Veeva Systems from $300.00 to $326.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 26th. Stifel Nicolaus boosted their price objective on shares of Veeva Systems from $295.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. Finally, UBS Group raised their target price on Veeva Systems from $285.00 to $310.00 and gave the company a “neutral” rating in a report on Thursday, August 28th. Seventeen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $301.48.

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.