SG Americas Securities LLC Raises Stake in Veeva Systems Inc. (NYSE:VEEV)

SG Americas Securities LLC lifted its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 146.5% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 13,792 shares of the technology company’s stock after buying an additional 8,198 shares during the period. SG Americas Securities LLC’s holdings in Veeva Systems were worth $2,900,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted its stake in shares of Veeva Systems by 64.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company’s stock worth $744,084,000 after purchasing an additional 1,392,256 shares during the period. State Street Corp lifted its position in Veeva Systems by 1.5% during the third quarter. State Street Corp now owns 3,293,141 shares of the technology company’s stock worth $691,132,000 after buying an additional 47,872 shares during the period. FMR LLC lifted its position in Veeva Systems by 25.7% during the third quarter. FMR LLC now owns 2,981,244 shares of the technology company’s stock worth $625,674,000 after buying an additional 610,021 shares during the period. Geode Capital Management LLC grew its holdings in Veeva Systems by 5.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,765,236 shares of the technology company’s stock valued at $579,630,000 after buying an additional 149,807 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Veeva Systems by 73.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company’s stock valued at $536,972,000 after acquiring an additional 1,081,501 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insider Buying and Selling at Veeva Systems

In other news, SVP Jonathan Faddis sold 1,694 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total value of $390,128.20. Following the sale, the senior vice president now owns 8,061 shares in the company, valued at approximately $1,856,448.30. This represents a 17.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Thomas D. Schwenger sold 1,126 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $240.01, for a total transaction of $270,251.26. Following the transaction, the insider now directly owns 27,013 shares in the company, valued at $6,483,390.13. The trade was a 4.00 % decrease in their position. The disclosure for this sale can be found here. 10.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

VEEV has been the topic of several research analyst reports. StockNews.com cut shares of Veeva Systems from a “buy” rating to a “hold” rating in a research report on Thursday. Stifel Nicolaus boosted their price objective on shares of Veeva Systems from $240.00 to $272.00 and gave the company a “buy” rating in a research note on Friday, December 6th. The Goldman Sachs Group lowered Veeva Systems from a “buy” rating to a “sell” rating and cut their target price for the stock from $261.00 to $200.00 in a research report on Thursday. JPMorgan Chase & Co. boosted their price target on Veeva Systems from $208.00 to $218.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. Finally, Needham & Company LLC restated a “buy” rating and issued a $270.00 price objective on shares of Veeva Systems in a report on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $253.96.

Veeva Systems Trading Up 0.2 %

Veeva Systems stock opened at $223.37 on Friday. The stock has a 50 day moving average of $221.63 and a 200-day moving average of $210.89. The stock has a market cap of $36.26 billion, a P/E ratio of 55.15, a price-to-earnings-growth ratio of 2.01 and a beta of 0.84. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93.

Veeva Systems 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.