Cape Investment Advisory Inc. Sells 64 Shares of Veeva Systems Inc. $VEEV

Cape Investment Advisory Inc. lowered its holdings in Veeva Systems Inc. (NYSE:VEEV) by 2.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,248 shares of the technology company’s stock after selling 64 shares during the period. Cape Investment Advisory Inc.’s holdings in Veeva Systems were worth $521,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Abound Financial LLC purchased a new position in Veeva Systems during the first quarter valued at approximately $25,000. ORG Partners LLC purchased a new position in Veeva Systems during the first quarter valued at approximately $26,000. Golden State Wealth Management LLC grew its stake in Veeva Systems by 152.9% during the first quarter. Golden State Wealth Management LLC now owns 129 shares of the technology company’s stock valued at $30,000 after acquiring an additional 78 shares in the last quarter. Wayfinding Financial LLC purchased a new position in Veeva Systems during the first quarter valued at approximately $32,000. Finally, Key Financial Inc grew its stake in Veeva Systems by 161.0% during the first quarter. Key Financial Inc now owns 154 shares of the technology company’s stock valued at $36,000 after acquiring an additional 95 shares in the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Price Performance

NYSE:VEEV opened at $273.12 on Friday. Veeva Systems Inc. has a 1-year low of $200.30 and a 1-year high of $296.72. The firm’s 50-day moving average price is $281.33 and its 200-day moving average price is $255.48. The company has a market capitalization of $44.63 billion, a PE ratio of 56.08, a P/E/G ratio of 2.12 and a beta of 0.95.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Piper Sandler boosted their price objective on shares of Veeva Systems from $325.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. Oppenheimer reissued an “outperform” rating and issued a $325.00 price target on shares of Veeva Systems in a research note on Thursday, August 28th. Canaccord Genuity Group boosted their price target on shares of Veeva Systems from $270.00 to $300.00 and gave the stock a “hold” rating in a research note on Thursday, August 28th. Wells Fargo & Company boosted their price target on shares of Veeva Systems from $300.00 to $326.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 26th. Finally, Citigroup boosted their price target on shares of Veeva Systems from $329.00 to $349.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. Sixteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $299.88.

Insider Activity at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 720 shares of Veeva Systems stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $285.62, for a total transaction of $205,646.40. Following the completion of the transaction, the senior vice president directly owned 7,902 shares of the company’s stock, valued at $2,256,969.24. The trade was a 8.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Priscilla Hung sold 171 shares of the business’s stock in a transaction on Monday, July 7th. The shares were sold at an average price of $284.40, for a total transaction of $48,632.40. Following the sale, the director directly owned 3,966 shares of the company’s stock, valued at $1,127,930.40. This represents a 4.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,063 shares of company stock worth $302,955. Company insiders own 10.30% of the company’s stock.

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.