Veeva Systems Inc. $VEEV Stock Position Increased by Dakota Wealth Management

Dakota Wealth Management boosted its holdings in Veeva Systems Inc. (NYSE:VEEV) by 61.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,929 shares of the technology company’s stock after acquiring an additional 4,538 shares during the quarter. Dakota Wealth Management’s holdings in Veeva Systems were worth $3,435,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in VEEV. Sara Bay Financial acquired a new position in shares of Veeva Systems during the second quarter valued at $207,000. Ballentine Partners LLC bought a new position in Veeva Systems in the 2nd quarter valued at about $268,000. Accurate Wealth Management LLC acquired a new position in Veeva Systems during the 2nd quarter valued at about $923,000. Maseco LLP acquired a new position in Veeva Systems during the 2nd quarter valued at about $35,000. Finally, CGN Advisors LLC lifted its stake in shares of Veeva Systems by 1.1% in the 2nd quarter. CGN Advisors LLC now owns 10,731 shares of the technology company’s stock worth $3,090,000 after acquiring an additional 122 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insider Activity at Veeva Systems

In other news, Director Priscilla Hung sold 172 shares of the business’s stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $283.00, for a total transaction of $48,676.00. Following the sale, the director owned 4,137 shares in the company, valued at $1,170,771. The trade was a 3.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jonathan Faddis sold 720 shares of the company’s 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 sale, the senior vice president owned 7,902 shares of the company’s stock, valued at approximately $2,256,969.24. This trade represents a 8.35% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,063 shares of company stock worth $302,955. 10.30% of the stock is currently owned by insiders.

Veeva Systems Stock Up 0.8%

NYSE:VEEV opened at $280.08 on Friday. The stock has a fifty day simple moving average of $280.59 and a 200 day simple moving average of $260.19. The firm has a market capitalization of $45.91 billion, a price-to-earnings ratio of 57.51, a price-to-earnings-growth ratio of 2.15 and a beta of 0.95. Veeva Systems Inc. has a 1-year low of $200.30 and a 1-year high of $296.72.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on VEEV shares. Stifel Nicolaus boosted their target price on Veeva Systems from $295.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. Citigroup lifted their price target on Veeva Systems from $329.00 to $349.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. Barclays upped their price objective on Veeva Systems from $300.00 to $325.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. Oppenheimer reaffirmed an “outperform” rating and set a $325.00 target price on shares of Veeva Systems in a report on Thursday, August 28th. Finally, Truist Financial boosted their price target on shares of Veeva Systems from $268.00 to $275.00 and gave the stock a “hold” rating in a research report on Thursday, August 28th. Seventeen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $301.48.

About Veeva Systems

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.