Charles Schwab Investment Management Inc. boosted its holdings in shares of Veeva Systems Inc. (NYSE:VEEV – Free Report) by 3.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 563,846 shares of the technology company’s stock after purchasing an additional 18,067 shares during the period. Charles Schwab Investment Management Inc. owned 0.35% of Veeva Systems worth $114,714,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of VEEV. Rise Advisors LLC grew its stake in shares of Veeva Systems by 424.0% during the third quarter. Rise Advisors LLC now owns 131 shares of the technology company’s stock valued at $27,000 after purchasing an additional 106 shares during the last quarter. OFI Invest Asset Management bought a new position in Veeva Systems in the 3rd quarter valued at $25,000. Nkcfo LLC acquired a new stake in shares of Veeva Systems in the 2nd quarter valued at $30,000. First Pacific Advisors LP acquired a new stake in shares of Veeva Systems in the 2nd quarter valued at $35,000. Finally, First Financial Corp IN bought a new stake in shares of Veeva Systems during the third quarter worth $40,000. Institutional investors own 80.07% of the company’s stock.
Veeva Systems Trading Up 0.6 %
Shares of VEEV stock opened at $216.76 on Friday. The firm’s fifty day moving average price is $195.29 and its two-hundred day moving average price is $196.00. Veeva Systems Inc. has a 1 year low of $160.21 and a 1 year high of $225.49. The firm has a market capitalization of $34.90 billion, a P/E ratio of 62.29, a PEG ratio of 2.55 and a beta of 0.74.
Insider Buying and Selling at Veeva Systems
In other news, EVP Alan Mateo sold 6,280 shares of Veeva Systems stock in a transaction that occurred on Friday, December 22nd. The stock was sold at an average price of $190.00, for a total transaction of $1,193,200.00. Following the completion of the transaction, the executive vice president now directly owns 21,983 shares in the company, valued at approximately $4,176,770. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Alan Mateo sold 6,280 shares of the business’s stock in a transaction that occurred on Friday, December 22nd. The stock was sold at an average price of $190.00, for a total transaction of $1,193,200.00. Following the completion of the sale, the executive vice president now owns 21,983 shares in the company, valued at $4,176,770. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Thomas D. Schwenger sold 1,238 shares of the business’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $210.02, for a total value of $260,004.76. Following the completion of the sale, the chief operating officer now owns 24,342 shares of the company’s stock, valued at $5,112,306.84. The disclosure for this sale can be found here. Insiders sold a total of 40,819 shares of company stock worth $7,520,033 over the last quarter. 10.98% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
A number of analysts recently commented on the company. KeyCorp lifted their price objective on Veeva Systems from $210.00 to $232.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. Stifel Nicolaus reissued a “buy” rating and set a $205.00 price target on shares of Veeva Systems in a research note on Thursday, December 7th. StockNews.com cut shares of Veeva Systems from a “buy” rating to a “hold” rating in a research note on Thursday, November 23rd. JPMorgan Chase & Co. lowered their target price on shares of Veeva Systems from $188.00 to $183.00 and set a “neutral” rating for the company in a report on Wednesday, November 29th. Finally, Barclays reduced their price target on Veeva Systems from $220.00 to $213.00 and set an “overweight” rating on the stock in a research report on Thursday, December 7th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $217.18.
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 data 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.
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