Point72 Asset Management L.P. decreased its stake in Veeva Systems Inc (NYSE:VEEV) by 11.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 200,000 shares of the technology company’s stock after selling 25,900 shares during the quarter. Point72 Asset Management L.P. owned 0.14% of Veeva Systems worth $11,282,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in VEEV. IFP Advisors Inc raised its position in shares of Veeva Systems by 605.4% during the third quarter. IFP Advisors Inc now owns 13,347 shares of the technology company’s stock worth $753,000 after purchasing an additional 11,455 shares during the period. BlueMountain Capital Management LLC acquired a new stake in shares of Veeva Systems during the second quarter worth about $2,497,000. Oppenheimer & Co. Inc. raised its position in shares of Veeva Systems by 62.7% during the second quarter. Oppenheimer & Co. Inc. now owns 14,214 shares of the technology company’s stock worth $871,000 after purchasing an additional 5,478 shares during the period. Advisor Group Inc. raised its position in shares of Veeva Systems by 44.0% during the second quarter. Advisor Group Inc. now owns 6,785 shares of the technology company’s stock worth $415,000 after purchasing an additional 2,073 shares during the period. Finally, Rhumbline Advisers raised its position in shares of Veeva Systems by 9.2% during the second quarter. Rhumbline Advisers now owns 120,387 shares of the technology company’s stock worth $7,381,000 after purchasing an additional 10,093 shares during the period. 72.38% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Veeva Systems Inc (NYSE:VEEV) traded up $0.40 during trading on Friday, reaching $55.98. The company had a trading volume of 1,774,381 shares, compared to its average volume of 1,411,170. Veeva Systems Inc has a 1-year low of $40.50 and a 1-year high of $68.07. The firm has a market cap of $7,855.84, a price-to-earnings ratio of 94.20, a PEG ratio of 4.51 and a beta of 1.60.
In other news, SVP Jonathan Faddis sold 37,500 shares of Veeva Systems stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $56.38, for a total transaction of $2,114,250.00. Following the completion of the transaction, the senior vice president now directly owns 39,149 shares in the company, valued at approximately $2,207,220.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul J. Sekhri sold 10,971 shares of Veeva Systems stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $53.83, for a total value of $590,568.93. Following the transaction, the director now owns 27,438 shares of the company’s stock, valued at $1,476,987.54. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 196,029 shares of company stock valued at $11,331,308. Corporate insiders own 19.17% of the company’s stock.
A number of brokerages recently issued reports on VEEV. Canaccord Genuity reissued a “buy” rating and issued a $70.00 target price on shares of Veeva Systems in a research report on Wednesday, December 6th. Zacks Investment Research lowered Veeva Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, October 24th. BidaskClub raised Veeva Systems from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 20th. Stifel Nicolaus reissued a “buy” rating and issued a $67.00 target price on shares of Veeva Systems in a research report on Friday, October 13th. Finally, Needham & Company LLC reissued a “buy” rating on shares of Veeva Systems in a research report on Thursday, October 12th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $67.45.
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Veeva Systems Profile
Veeva Systems Inc (Veeva) is a provider of cloud-based software solutions for the global life sciences industry. The Company offers solutions for a range of requirements within life sciences companies, including multichannel customer relationship management, regulated content and information management, master data management and customer data.
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