Shell Asset Management Co. Boosts Stake in Veeva Systems Inc. $VEEV

Shell Asset Management Co. boosted its holdings in Veeva Systems Inc. (NYSE:VEEV) by 16.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,787 shares of the technology company’s stock after acquiring an additional 2,209 shares during the quarter. Shell Asset Management Co.’s holdings in Veeva Systems were worth $4,546,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wedmont Private Capital grew its stake in shares of Veeva Systems by 4.1% during the 1st quarter. Wedmont Private Capital now owns 2,200 shares of the technology company’s stock worth $480,000 after purchasing an additional 87 shares during the period. CHICAGO TRUST Co NA boosted its holdings in Veeva Systems by 17.3% during the first quarter. CHICAGO TRUST Co NA now owns 2,205 shares of the technology company’s stock worth $511,000 after buying an additional 325 shares in the last quarter. Pallas Capital Advisors LLC grew its position in Veeva Systems by 11.1% during the first quarter. Pallas Capital Advisors LLC now owns 2,627 shares of the technology company’s stock worth $608,000 after buying an additional 262 shares during the period. GAMMA Investing LLC lifted its position in shares of Veeva Systems by 13.8% during the 1st quarter. GAMMA Investing LLC now owns 1,823 shares of the technology company’s stock valued at $422,000 after acquiring an additional 221 shares during the period. Finally, SG Americas Securities LLC boosted its stake in shares of Veeva Systems by 226.2% during the 1st quarter. SG Americas Securities LLC now owns 44,983 shares of the technology company’s stock worth $10,419,000 after acquiring an additional 31,191 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Price Performance

NYSE:VEEV opened at $306.45 on Wednesday. The firm has a market cap of $50.23 billion, a PE ratio of 62.93, a P/E/G ratio of 2.32 and a beta of 0.98. The firm has a 50 day simple moving average of $282.21 and a 200-day simple moving average of $263.86. Veeva Systems Inc. has a 1-year low of $201.54 and a 1-year high of $310.50.

Insiders Place Their Bets

In related news, insider Thomas D. Schwenger sold 3,350 shares of the stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $300.04, for a total transaction of $1,005,134.00. Following the transaction, the insider directly owned 23,773 shares in the company, valued at approximately $7,132,850.92. This represents a 12.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Jonathan Faddis sold 14,595 shares of Veeva Systems stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $300.00, for a total value of $4,378,500.00. Following the completion of the sale, the senior vice president owned 8,588 shares of the company’s stock, valued at $2,576,400. This trade represents a 62.96% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,665 shares of company stock worth $5,589,280. Corporate insiders own 10.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Wells Fargo & Company raised their price objective on Veeva Systems from $300.00 to $326.00 and gave the company an “overweight” rating in a research note on Tuesday, August 26th. Canaccord Genuity Group lifted their price target on Veeva Systems from $270.00 to $300.00 and gave the stock a “hold” rating in a research note on Thursday, August 28th. Barclays increased their price objective on shares of Veeva Systems from $300.00 to $325.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. Wall Street Zen cut shares of Veeva Systems from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. Finally, TD Cowen upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating and increased their price target for the company from $297.00 to $380.00 in a research report on Tuesday. Sixteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $307.58.

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.