Point72 Hong Kong Ltd Acquires 8,656 Shares of Veeva Systems Inc. (NYSE:VEEV)

Point72 Hong Kong Ltd increased its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 63.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,322 shares of the technology company’s stock after acquiring an additional 8,656 shares during the period. Point72 Hong Kong Ltd’s holdings in Veeva Systems were worth $4,693,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MassMutual Private Wealth & Trust FSB grew its holdings 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 worth $25,000 after acquiring an additional 50 shares during the period. Centricity Wealth Management LLC purchased a new stake in Veeva Systems in the 4th quarter valued at $25,000. Smithfield Trust Co increased its position in shares of Veeva Systems by 145.5% during the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock valued at $27,000 after purchasing an additional 80 shares during the last quarter. Retirement Wealth Solutions LLC purchased a new stake in shares of Veeva Systems during the 4th quarter valued at $31,000. Finally, Avion Wealth grew its stake in shares of Veeva Systems by 635.0% during the 4th quarter. Avion Wealth now owns 147 shares of the technology company’s stock worth $30,000 after acquiring an additional 127 shares during the period. Institutional investors own 88.20% of the company’s stock.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 787 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total transaction of $178,019.40. Following the sale, the senior vice president now directly owns 8,668 shares in the company, valued at $1,960,701.60. This represents a 8.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Thomas D. Schwenger sold 1,200 shares of the company’s stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $220.97, for a total value of $265,164.00. Following the sale, the insider now owns 25,889 shares in the company, valued at approximately $5,720,692.33. This trade represents a 4.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,869 shares of company stock worth $1,284,917 over the last ninety days. Company insiders own 10.50% of the company’s stock.

Veeva Systems Trading Down 0.4%

Shares of Veeva Systems stock opened at $240.14 on Thursday. Veeva Systems Inc. has a 12 month low of $170.25 and a 12 month high of $258.93. The stock has a 50 day moving average of $228.36 and a 200 day moving average of $225.81. The firm has a market cap of $39.07 billion, a PE ratio of 59.29, a PEG ratio of 1.89 and a beta of 0.96.

Analyst Upgrades and Downgrades

Several research analysts have commented on VEEV shares. KeyCorp cut their target price on Veeva Systems from $260.00 to $250.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Robert W. Baird lifted their price objective on Veeva Systems from $283.00 to $285.00 and gave the stock an “outperform” rating in a research report on Thursday, March 6th. Needham & Company LLC reissued a “buy” rating and issued a $270.00 target price on shares of Veeva Systems in a report on Thursday, March 6th. Scotiabank boosted their price target on Veeva Systems from $240.00 to $245.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 6th. Finally, Morgan Stanley upped their price target 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 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, the company presently has an average rating of “Moderate Buy” and an average price target of $254.92.

Veeva Systems 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.