J2 Capital Management Inc Raises Position in Veeva Systems Inc. $VEEV

J2 Capital Management Inc boosted its position in Veeva Systems Inc. (NYSE:VEEV) by 32.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 2,524 shares of the technology company’s stock after purchasing an additional 619 shares during the period. J2 Capital Management Inc’s holdings in Veeva Systems were worth $727,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Veeva Systems by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 14,760,566 shares of the technology company’s stock worth $3,418,990,000 after acquiring an additional 315,421 shares during the period. Alliancebernstein L.P. lifted its holdings in Veeva Systems by 10.7% during the first quarter. Alliancebernstein L.P. now owns 5,499,651 shares of the technology company’s stock valued at $1,273,884,000 after purchasing an additional 532,269 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of Veeva Systems by 0.7% in the first quarter. T. Rowe Price Investment Management Inc. now owns 5,203,867 shares of the technology company’s stock valued at $1,205,372,000 after purchasing an additional 34,169 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Veeva Systems by 20.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,992,372 shares of the technology company’s stock valued at $924,754,000 after buying an additional 689,700 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Veeva Systems by 7.5% in the 1st quarter. JPMorgan Chase & Co. now owns 3,230,758 shares of the technology company’s stock worth $748,341,000 after buying an additional 225,125 shares during the period. 88.20% of the stock is owned by institutional investors.

Insider Activity

In related news, 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 value of $205,646.40. Following the transaction, the senior vice president directly owned 7,902 shares in the company, valued at approximately $2,256,969.24. This represents a 8.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Priscilla Hung sold 171 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director directly owned 3,966 shares in the company, valued at $1,127,930.40. This represents a 4.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Barclays boosted their target price on shares of Veeva Systems from $300.00 to $325.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. Needham & Company LLC lifted their price target on Veeva Systems from $300.00 to $355.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. Citigroup increased their price objective on Veeva Systems from $329.00 to $349.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. Raymond James Financial restated an “outperform” rating and issued a $340.00 target price (up previously from $310.00) on shares of Veeva Systems in a research note on Thursday, August 28th. Finally, Evercore ISI upped their price target on Veeva Systems from $285.00 to $295.00 and gave the company an “in-line” rating in a research report on Thursday, August 28th. Sixteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Veeva Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $303.67.

Veeva Systems Stock Down 1.5%

Veeva Systems stock opened at $293.44 on Thursday. The stock has a market cap of $48.10 billion, a price-to-earnings ratio of 60.26, a PEG ratio of 2.30 and a beta of 0.98. The business has a 50-day simple moving average of $281.39 and a 200 day simple moving average of $261.90. Veeva Systems Inc. has a 52 week low of $200.30 and a 52 week high of $299.95.

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.