Farther Finance Advisors LLC Boosts Stake in Veeva Systems Inc. (NYSE:VEEV)

Farther Finance Advisors LLC grew its position in Veeva Systems Inc. (NYSE:VEEV) by 87.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,063 shares of the technology company’s stock after purchasing an additional 1,892 shares during the quarter. Farther Finance Advisors LLC’s holdings in Veeva Systems were worth $738,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Advisors Asset Management Inc. acquired a new stake in shares of Veeva Systems in the 1st quarter valued at $28,000. DSM Capital Partners LLC acquired a new stake in shares of Veeva Systems in the 4th quarter valued at $29,000. First Financial Corp IN acquired a new stake in shares of Veeva Systems in the 1st quarter valued at $35,000. Larson Financial Group LLC raised its stake in Veeva Systems by 1,153.8% during the 1st quarter. Larson Financial Group LLC now owns 163 shares of the technology company’s stock worth $38,000 after acquiring an additional 150 shares in the last quarter. Finally, Vermillion & White Wealth Management Group LLC acquired a new stake in Veeva Systems during the 4th quarter worth $32,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

VEEV has been the topic of several research analyst reports. BTIG Research assumed coverage on shares of Veeva Systems in a research note on Tuesday, July 9th. They set a “buy” rating and a $240.00 price target on the stock. Robert W. Baird boosted their price target on shares of Veeva Systems from $245.00 to $251.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 price target on shares of Veeva Systems in a research note on Thursday, August 29th. Truist Financial dropped their price target on shares of Veeva Systems from $203.00 to $197.00 and set a “hold” rating on the stock in a research note on Friday, June 14th. Finally, Stifel Nicolaus dropped their price target on shares of Veeva Systems from $250.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $230.13.

Veeva Systems Price Performance

VEEV stock opened at $216.44 on Tuesday. The company’s 50 day simple moving average is $189.71 and its 200-day simple moving average is $201.85. The firm has a market capitalization of $34.99 billion, a PE ratio of 63.85, a P/E/G ratio of 2.11 and a beta of 0.81. Veeva Systems Inc. has a 12 month low of $162.72 and a 12 month high of $236.90.

Insider Activity

In other news, CFO Timothy S. Cabral sold 15,000 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $184.33, for a total value of $2,764,950.00. Following the sale, the chief financial officer now directly owns 8,391 shares in the company, valued at $1,546,713.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Veeva Systems news, CFO Timothy S. Cabral sold 15,000 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $184.33, for a total transaction of $2,764,950.00. Following the transaction, the chief financial officer now owns 8,391 shares of the company’s stock, valued at approximately $1,546,713.03. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Jonathan Faddis sold 2,353 shares of Veeva Systems stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total value of $470,600.00. Following the completion of the sale, the senior vice president now directly owns 9,035 shares of the company’s stock, valued at approximately $1,807,000. The disclosure for this sale can be found here. Company insiders own 10.50% of the company’s stock.

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.