Slow Capital Inc. Raises Position in Veeva Systems Inc. $VEEV

Slow Capital Inc. increased its stake in Veeva Systems Inc. (NYSE:VEEV) by 1.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 24,464 shares of the technology company’s stock after purchasing an additional 417 shares during the quarter. Slow Capital Inc.’s holdings in Veeva Systems were worth $7,045,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of VEEV. Sivia Capital Partners LLC purchased a new stake in Veeva Systems in the first quarter worth $222,000. 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 acquiring an additional 87 shares during the period. Revolve Wealth Partners LLC bought a new position in shares of Veeva Systems during the 1st quarter worth $216,000. CHICAGO TRUST Co NA increased its holdings in Veeva Systems by 17.3% in the 1st quarter. CHICAGO TRUST Co NA now owns 2,205 shares of the technology company’s stock worth $511,000 after acquiring an additional 325 shares during the last quarter. Finally, Pallas Capital Advisors LLC raised its stake in Veeva Systems by 11.1% in the 1st quarter. Pallas Capital Advisors LLC now owns 2,627 shares of the technology company’s stock valued at $608,000 after acquiring an additional 262 shares during the period. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Analyst Upgrades and Downgrades

VEEV has been the topic of several recent research reports. Raymond James Financial reaffirmed an “outperform” rating and set a $340.00 price objective (up from $310.00) on shares of Veeva Systems in a report on Thursday, August 28th. Morgan Stanley boosted their price target on shares of Veeva Systems from $210.00 to $222.00 and gave the company an “underweight” rating in a research report on Thursday, August 28th. UBS Group raised their price objective on shares of Veeva Systems from $285.00 to $310.00 and gave the stock a “neutral” rating in a report on Thursday, August 28th. Canaccord Genuity Group lifted their price objective on shares of Veeva Systems from $270.00 to $300.00 and gave the company a “hold” rating in a research note on Thursday, August 28th. Finally, Citigroup boosted their target price on shares of Veeva Systems from $329.00 to $349.00 and gave the company a “buy” rating in a report on Thursday, August 28th. Sixteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $303.67.

Insider Transactions at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 14,595 shares of the company’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $300.00, for a total transaction of $4,378,500.00. Following the completion of the transaction, the senior vice president owned 8,588 shares of the company’s stock, valued at $2,576,400. This represents a 62.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Thomas D. Schwenger sold 3,350 shares of Veeva Systems stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $300.04, for a total value of $1,005,134.00. Following the completion of the sale, the insider 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 18,665 shares of company stock valued at $5,589,280. Corporate insiders own 10.30% of the company’s stock.

Veeva Systems Stock Performance

Shares of VEEV stock opened at $299.84 on Tuesday. The company has a market capitalization of $49.15 billion, a PE ratio of 61.57, a price-to-earnings-growth ratio of 2.29 and a beta of 0.98. Veeva Systems Inc. has a 52-week low of $200.30 and a 52-week high of $303.47. The business’s fifty day moving average is $281.83 and its 200 day moving average is $263.56.

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.