Perigon Wealth Management LLC lifted its stake in Veeva Systems Inc. (NYSE:VEEV) by 151.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,286 shares of the technology company’s stock after purchasing an additional 775 shares during the quarter. Perigon Wealth Management LLC’s holdings in Veeva Systems were worth $336,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Berman Capital Advisors LLC increased its position in Veeva Systems by 415.7% during the 4th quarter. Berman Capital Advisors LLC now owns 722 shares of the technology company’s stock valued at $195,000 after buying an additional 582 shares in the last quarter. Lazard Asset Management LLC bought a new stake in Veeva Systems in the fourth quarter worth $43,000. LPL Financial LLC grew its stake in shares of Veeva Systems by 2.8% in the fourth quarter. LPL Financial LLC now owns 43,178 shares of the technology company’s stock worth $11,755,000 after acquiring an additional 1,188 shares during the last quarter. Prelude Capital Management LLC bought a new position in shares of Veeva Systems during the fourth quarter valued at $656,000. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Veeva Systems by 1.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,745,601 shares of the technology company’s stock worth $2,653,240,000 after purchasing an additional 136,289 shares during the last quarter. 77.13% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Veeva Systems stock opened at $323.87 on Thursday. Veeva Systems Inc. has a 1-year low of $235.74 and a 1-year high of $329.07. The stock’s fifty day simple moving average is $296.79. The stock has a market cap of $49.53 billion, a PE ratio of 128.01, a PEG ratio of 8.15 and a beta of 0.74.
In other Veeva Systems news, Director Matthew J. Wallach sold 5,000 shares of the stock in a transaction on Tuesday, June 8th. The stock was sold at an average price of $295.10, for a total value of $1,475,500.00. Following the completion of the sale, the director now owns 6,311 shares in the company, valued at approximately $1,862,376.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Jonathan Faddis sold 959 shares of the firm’s stock in a transaction dated Thursday, June 3rd. The shares were sold at an average price of $285.29, for a total value of $273,593.11. Following the sale, the senior vice president now directly owns 4,476 shares in the company, valued at $1,276,958.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,425 shares of company stock worth $5,469,494. Insiders own 13.18% of the company’s stock.
Several research analysts have issued reports on the stock. Citigroup lifted their target price on shares of Veeva Systems from $335.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, May 28th. Morgan Stanley upped their price objective on Veeva Systems from $340.00 to $350.00 and gave the company an “overweight” rating in a research report on Friday, May 28th. Piper Sandler increased their target price on Veeva Systems from $350.00 to $360.00 and gave the company an “overweight” rating in a research note on Friday, May 28th. Raymond James restated a “buy” rating on shares of Veeva Systems in a research note on Wednesday, March 31st. Finally, Zacks Investment Research cut Veeva Systems from a “buy” rating to a “hold” rating and set a $277.00 price objective on the stock. in a research report on Thursday, May 20th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $325.39.
About Veeva Systems
Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, the Middle East, Africa, and Latin America. The company offers Veeva Commercial Cloud, a suite of software, data, and analytics solutions, which include Veeva customer relationship management (CRM) and Veeva Medical CRM, Veeva CLM, Veeva CRM Approved Email, Veeva CRM Engage, Veeva Align, Veeva CRM Events Management, Veeva Nitro, Veeva Andi, Veeva OpenData, Veeva Link, Veeva Network Customer Master, Veeva Crossix, Veeva Data Cloud, and MyVeeva for Doctors; and Veeva Vault, a cloud-based enterprise content and data management applications for managing commercial functions, including sales and marketing, and medical content and communications, as well as research and development functions, such as clinical, regulatory, quality, and safety.
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