Crestwood Advisors Group LLC Makes New $353,000 Investment in Veeva Systems Inc. (NYSE:VEEV)

Crestwood Advisors Group LLC acquired a new position in shares of Veeva Systems Inc. (NYSE:VEEV) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 1,928 shares of the technology company’s stock, valued at approximately $353,000.

Other hedge funds also recently made changes to their positions in the company. Yousif Capital Management LLC grew its holdings in shares of Veeva Systems by 3.5% during the fourth quarter. Yousif Capital Management LLC now owns 1,777 shares of the technology company’s stock worth $342,000 after buying an additional 60 shares during the last quarter. Savant Capital LLC purchased a new position in shares of Veeva Systems during the fourth quarter worth about $231,000. Victory Capital Management Inc. grew its holdings in shares of Veeva Systems by 6.6% during the fourth quarter. Victory Capital Management Inc. now owns 201,806 shares of the technology company’s stock worth $38,852,000 after buying an additional 12,535 shares during the last quarter. New York Life Investment Management LLC grew its holdings in shares of Veeva Systems by 5.6% during the fourth quarter. New York Life Investment Management LLC now owns 2,485 shares of the technology company’s stock worth $478,000 after buying an additional 131 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in shares of Veeva Systems by 169.8% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 5,188 shares of the technology company’s stock worth $999,000 after buying an additional 3,265 shares during the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Insiders Place Their Bets

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

Analysts Set New Price Targets

A number of research firms recently issued reports on VEEV. BTIG Research started coverage on Veeva Systems in a report on Tuesday, July 9th. They set a “buy” rating and a $240.00 price target on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 price objective on shares of Veeva Systems in a research report on Thursday, August 29th. Morgan Stanley reduced their price objective on shares of Veeva Systems from $210.00 to $173.00 and set an “underweight” rating for the company in a research report on Friday, May 31st. Piper Sandler raised their price objective on shares of Veeva Systems from $225.00 to $230.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Finally, Evercore ISI reduced their price objective on shares of Veeva Systems from $230.00 to $200.00 and set an “in-line” rating for the company in a research report on Friday, May 31st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $230.57.

Veeva Systems Stock Performance

VEEV stock opened at $215.74 on Wednesday. The stock has a market capitalization of $34.87 billion, a P/E ratio of 63.64, a PEG ratio of 2.11 and a beta of 0.81. Veeva Systems Inc. has a one year low of $162.72 and a one year high of $236.90. The company has a 50 day moving average price of $190.30 and a two-hundred day moving average price of $201.83.

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.