1,411 Shares in Veeva Systems Inc. (NYSE:VEEV) Acquired by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC acquired a new stake in shares of Veeva Systems Inc. (NYSE:VEEV) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 1,411 shares of the technology company’s stock, valued at approximately $258,000.

A number of other large investors have also bought and sold shares of VEEV. Advisors Asset Management Inc. bought a new position in shares of Veeva Systems during the 1st quarter worth $28,000. DSM Capital Partners LLC bought a new position in Veeva Systems during the fourth quarter worth about $29,000. First Financial Corp IN purchased a new position in shares of Veeva Systems in the first quarter worth about $35,000. Larson Financial Group LLC raised its position in shares of Veeva Systems by 1,153.8% in the first quarter. Larson Financial Group LLC now owns 163 shares of the technology company’s stock valued at $38,000 after purchasing an additional 150 shares during the period. Finally, Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Veeva Systems during the 4th quarter valued at approximately $32,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. 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 note on Friday, May 31st. UBS Group raised their target price on Veeva Systems from $185.00 to $215.00 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Canaccord Genuity Group decreased their price target on Veeva Systems from $220.00 to $210.00 and set a “hold” rating on the stock in a research report on Friday, May 31st. JPMorgan Chase & Co. increased their price target on shares of Veeva Systems from $203.00 to $208.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 price objective on shares of Veeva Systems in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $229.96.

Insiders Place Their Bets

In related news, SVP Jonathan Faddis sold 2,353 shares of the 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 transaction, the senior vice president now owns 9,035 shares of the company’s stock, valued at approximately $1,807,000. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 10.50% of the company’s stock.

Veeva Systems Price Performance

NYSE:VEEV opened at $214.80 on Wednesday. The company has a market capitalization of $34.72 billion, a price-to-earnings ratio of 63.36, a PEG ratio of 2.14 and a beta of 0.81. The business has a 50 day moving average of $197.48 and a 200 day moving average of $201.61. Veeva Systems Inc. has a 1-year low of $162.72 and a 1-year high of $236.90.

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.