Veeva Systems Inc. (NYSE:VEEV) Shares Bought by Barclays PLC

Barclays PLC grew its stake in Veeva Systems Inc. (NYSE:VEEV) by 18.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 185,206 shares of the technology company’s stock after purchasing an additional 28,497 shares during the period. Barclays PLC’s holdings in Veeva Systems were worth $38,870,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Veeva Systems during the third quarter valued at $26,000. True Wealth Design LLC boosted its stake in shares of Veeva Systems by 3,375.0% during the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock worth $29,000 after acquiring an additional 135 shares in the last quarter. Blue Trust Inc. grew its position in shares of Veeva Systems by 3,460.0% during the 2nd quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock valued at $33,000 after acquiring an additional 173 shares during the period. DT Investment Partners LLC purchased a new position in shares of Veeva Systems in the 2nd quarter valued at about $35,000. Finally, Fairscale Capital LLC acquired a new position in Veeva Systems in the 2nd quarter worth about $46,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Insider Transactions at Veeva Systems

In related news, SVP Jonathan Faddis sold 1,694 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total value of $390,128.20. Following the completion of the transaction, the senior vice president now directly owns 8,061 shares in the company, valued at approximately $1,856,448.30. This represents a 17.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Thomas D. Schwenger sold 1,126 shares of Veeva Systems stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.01, for a total value of $270,251.26. Following the completion of the sale, the insider now owns 27,013 shares in the company, valued at $6,483,390.13. This represents a 4.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 10.50% of the company’s stock.

Wall Street Analysts Forecast Growth

VEEV has been the topic of several research analyst reports. Raymond James raised their price objective on Veeva Systems from $230.00 to $235.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Truist Financial reissued a “hold” rating and issued a $261.00 price target (up previously from $207.00) on shares of Veeva Systems in a research note on Friday, December 6th. Piper Sandler upped their price objective on shares of Veeva Systems from $280.00 to $290.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Mizuho began coverage on shares of Veeva Systems in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $275.00 target price on the stock. Finally, Needham & Company LLC boosted their target price on shares of Veeva Systems from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, Veeva Systems has an average rating of “Moderate Buy” and a consensus target price of $255.35.

Veeva Systems Price Performance

Shares of VEEV stock opened at $228.78 on Friday. The company has a market capitalization of $37.05 billion, a PE ratio of 56.49, a price-to-earnings-growth ratio of 2.07 and a beta of 0.82. The firm’s 50-day moving average is $221.36 and its two-hundred day moving average is $204.00. Veeva Systems Inc. has a 12 month low of $170.25 and a 12 month high of $258.93.

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.