Castlekeep Investment Advisors LLC Takes $1.99 Million Position in Veeva Systems Inc. (NYSE:VEEV)

Castlekeep Investment Advisors LLC bought a new position in shares of Veeva Systems Inc. (NYSE:VEEV) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 9,461 shares of the technology company’s stock, valued at approximately $1,989,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Barclays PLC lifted its stake in Veeva Systems by 18.2% in the 3rd quarter. Barclays PLC now owns 185,206 shares of the technology company’s stock valued at $38,870,000 after buying an additional 28,497 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Veeva Systems by 73.2% during the third quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company’s stock valued at $536,972,000 after acquiring an additional 1,081,501 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Veeva Systems by 72.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock valued at $25,000 after acquiring an additional 50 shares during the last quarter. Dakota Wealth Management purchased a new position in shares of Veeva Systems in the fourth quarter valued at approximately $1,471,000. Finally, SG Americas Securities LLC boosted its stake in shares of Veeva Systems by 146.5% in the fourth quarter. SG Americas Securities LLC now owns 13,792 shares of the technology company’s stock worth $2,900,000 after acquiring an additional 8,198 shares during the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Insider Activity

In related news, SVP Jonathan Faddis sold 787 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total value of $178,019.40. Following the sale, the senior vice president now directly owns 8,668 shares in the company, valued at approximately $1,960,701.60. The trade was a 8.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Timothy S. Cabral sold 3,882 shares of the company’s stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $216.83, for a total transaction of $841,734.06. Following the completion of the transaction, the director now directly owns 5,500 shares in the company, valued at $1,192,565. The trade was a 41.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,869 shares of company stock valued at $1,284,917 in the last quarter. Insiders own 10.30% of the company’s stock.

Veeva Systems Stock Down 0.9%

VEEV stock opened at $233.41 on Friday. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93. The stock has a market cap of $37.97 billion, a price-to-earnings ratio of 57.63, a price-to-earnings-growth ratio of 1.89 and a beta of 0.96. The business has a fifty day moving average of $228.95 and a two-hundred day moving average of $227.05.

Analyst Upgrades and Downgrades

Several brokerages recently commented on VEEV. Stephens reiterated an “overweight” rating and set a $280.00 price target on shares of Veeva Systems in a research report on Thursday, March 6th. Truist Financial lifted their target price on shares of Veeva Systems from $210.00 to $217.00 and gave the stock a “hold” rating in a research note on Thursday, March 6th. Morgan Stanley upped their target price on shares of Veeva Systems from $195.00 to $201.00 and gave the stock an “underweight” rating in a report on Thursday, March 6th. Piper Sandler decreased their price target on shares of Veeva Systems from $290.00 to $255.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. Finally, Wall Street Zen upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Two research 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $254.92.

Veeva Systems Company 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.