111 Capital Takes Position in Veeva Systems Inc. $VEEV

111 Capital bought a new stake in shares of Veeva Systems Inc. (NYSE:VEEV) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,956 shares of the technology company’s stock, valued at approximately $2,003,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of VEEV. Nuveen LLC bought a new position in shares of Veeva Systems during the 1st quarter valued at approximately $365,684,000. Price T Rowe Associates Inc. MD boosted its holdings in Veeva Systems by 20.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,992,372 shares of the technology company’s stock worth $924,754,000 after buying an additional 689,700 shares during the period. Linonia Partnership LP boosted its holdings in Veeva Systems by 52.7% in the 1st quarter. Linonia Partnership LP now owns 1,836,557 shares of the technology company’s stock worth $425,402,000 after buying an additional 633,585 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Veeva Systems by 48.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,799,931 shares of the technology company’s stock worth $416,918,000 after buying an additional 585,785 shares during the period. Finally, Alliancebernstein L.P. boosted its holdings in Veeva Systems by 10.7% in the 1st quarter. Alliancebernstein L.P. now owns 5,499,651 shares of the technology company’s stock worth $1,273,884,000 after buying an additional 532,269 shares during the period. 88.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

VEEV has been the subject of several analyst reports. Wells Fargo & Company raised their price objective 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. Barclays raised their price objective on shares of Veeva Systems from $300.00 to $325.00 and gave the stock an “overweight” rating in a report on Thursday, August 28th. Citigroup raised their price objective on shares of Veeva Systems from $329.00 to $349.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. Mizuho raised their price objective on shares of Veeva Systems from $295.00 to $325.00 and gave the stock an “outperform” rating in a report on Friday, August 29th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Veeva Systems in a report on Saturday, September 27th. Sixteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $303.67.

Insider Activity

In other news, insider Thomas D. Schwenger sold 3,350 shares of the firm’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $300.04, for a total transaction of $1,005,134.00. Following the sale, the insider owned 23,773 shares in the company, valued at approximately $7,132,850.92. This trade represents a 12.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Priscilla Hung sold 171 shares of the firm’s stock in a transaction on Monday, July 7th. The shares were sold at an average price of $284.40, for a total transaction of $48,632.40. Following the sale, the director owned 3,966 shares in the company, valued at approximately $1,127,930.40. This trade represents a 4.13% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,836 shares of company stock worth $5,637,913. 10.30% of the stock is currently owned by corporate insiders.

Veeva Systems Stock Performance

Veeva Systems stock opened at $296.47 on Friday. The firm’s fifty day moving average price is $281.68 and its 200-day moving average price is $262.76. The stock has a market cap of $48.60 billion, a P/E ratio of 60.88, a price-to-earnings-growth ratio of 2.32 and a beta of 0.98. Veeva Systems Inc. has a fifty-two week low of $200.30 and a fifty-two week high of $302.00.

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.