Sherbrooke Park Advisers LLC Buys Shares of 4,378 Veeva Systems Inc. (NYSE:VEEV)

Sherbrooke Park Advisers LLC bought a new stake in shares of Veeva Systems Inc. (NYSE:VEEV) in the 4th quarter, Holdings Channel reports. The institutional investor bought 4,378 shares of the technology company’s stock, valued at approximately $920,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB lifted its holdings in Veeva Systems by 72.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock worth $25,000 after acquiring an additional 50 shares in the last quarter. Centricity Wealth Management LLC acquired a new stake in shares of Veeva Systems during the fourth quarter worth about $25,000. Smithfield Trust Co lifted its holdings in shares of Veeva Systems by 145.5% during the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock valued at $27,000 after purchasing an additional 80 shares in the last quarter. Retirement Wealth Solutions LLC acquired a new position in shares of Veeva Systems in the 4th quarter valued at approximately $31,000. Finally, Avion Wealth grew its position in shares of Veeva Systems by 635.0% in the 4th quarter. Avion Wealth now owns 147 shares of the technology company’s stock valued at $30,000 after purchasing an additional 127 shares during the period. Institutional investors own 88.20% of the company’s stock.

Insider Transactions at Veeva Systems

In other Veeva Systems news, Director Timothy S. Cabral sold 3,882 shares of the stock in a transaction on Friday, April 4th. The stock was sold at an average price of $216.83, for a total transaction of $841,734.06. Following the sale, the director now owns 5,500 shares in the company, valued at $1,192,565. This represents a 41.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Thomas D. Schwenger sold 1,200 shares of Veeva Systems stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $220.97, for a total value of $265,164.00. Following the transaction, the insider now directly owns 25,889 shares of the company’s stock, valued at $5,720,692.33. The trade was a 4.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,869 shares of company stock worth $1,284,917 in the last ninety days. Company insiders own 10.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Scotiabank raised their price objective on shares of Veeva Systems from $240.00 to $245.00 and gave the stock a “sector perform” rating in a report on Thursday, March 6th. KeyCorp cut their target price on Veeva Systems from $260.00 to $250.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Needham & Company LLC restated a “buy” rating and issued a $270.00 price objective on shares of Veeva Systems in a report on Thursday, March 6th. Piper Sandler dropped their target price on Veeva Systems from $290.00 to $255.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. Finally, Truist Financial increased their price target on shares of Veeva Systems from $210.00 to $217.00 and gave the company a “hold” rating in a research note on Thursday, March 6th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, Veeva Systems currently has a consensus rating of “Moderate Buy” and an average price target of $254.92.

Veeva Systems Price Performance

VEEV opened at $241.58 on Friday. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93. The firm has a market capitalization of $39.30 billion, a P/E ratio of 59.65, a PEG ratio of 1.89 and a beta of 0.96. The company’s 50-day moving average is $228.40 and its 200 day moving average is $226.01.

About Veeva Systems

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.