OMNI 360 Wealth Inc. Makes New $332,000 Investment in Veeva Systems Inc. $VEEV

OMNI 360 Wealth Inc. bought a new position in Veeva Systems Inc. (NYSE:VEEV) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,152 shares of the technology company’s stock, valued at approximately $332,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sowell Financial Services LLC acquired a new position in shares of Veeva Systems in the first quarter worth about $274,000. Crossmark Global Holdings Inc. acquired a new position in shares of Veeva Systems in the first quarter worth about $299,000. Janney Montgomery Scott LLC acquired a new position in shares of Veeva Systems in the first quarter worth about $5,876,000. GAMMA Investing LLC boosted its holdings in shares of Veeva Systems by 13.8% in the first quarter. GAMMA Investing LLC now owns 1,823 shares of the technology company’s stock worth $422,000 after buying an additional 221 shares during the period. Finally, Private Trust Co. NA boosted its holdings in shares of Veeva Systems by 35.0% during the first quarter. Private Trust Co. NA now owns 247 shares of the technology company’s stock worth $57,000 after purchasing an additional 64 shares during the period. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Priscilla Hung sold 172 shares of Veeva Systems stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $283.00, for a total value of $48,676.00. Following the transaction, the director owned 4,137 shares of the company’s stock, valued at $1,170,771. This trade represents a 3.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Jonathan Faddis sold 720 shares of Veeva Systems stock in a transaction that occurred 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 in the company, valued at approximately $2,256,969.24. This represents a 8.35% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,063 shares of company stock worth $302,955. Insiders own 10.30% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Canaccord Genuity Group raised their price target on shares of Veeva Systems from $270.00 to $300.00 and gave the stock a “hold” rating in a report on Thursday, August 28th. Piper Sandler raised their price target on shares of Veeva Systems from $325.00 to $355.00 and gave the stock an “overweight” rating in a report on Thursday, August 28th. Needham & Company LLC raised their price target on shares of Veeva Systems from $300.00 to $355.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. Wells Fargo & Company raised their price target on shares of Veeva Systems from $300.00 to $326.00 and gave the stock an “overweight” rating in a report on Tuesday, August 26th. Finally, Evercore ISI raised their price objective on shares of Veeva Systems from $285.00 to $295.00 and gave the company an “in-line” rating in a research report on Thursday, August 28th. Seventeen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $301.48.

Veeva Systems Stock Performance

Shares of VEEV opened at $276.21 on Friday. The firm has a market cap of $45.27 billion, a PE ratio of 56.72, a PEG ratio of 2.17 and a beta of 0.95. The firm’s 50 day moving average price is $281.13 and its 200 day moving average price is $257.33. Veeva Systems Inc. has a twelve month low of $200.30 and a twelve month high of $296.72.

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.