Inspire Investing LLC Has $3.04 Million Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Inspire Investing LLC lessened its stake in Veeva Systems Inc. (NYSE:VEEV) by 29.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,596 shares of the technology company’s stock after selling 6,765 shares during the quarter. Inspire Investing LLC’s holdings in Veeva Systems were worth $3,037,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. acquired a new position in shares of Veeva Systems in the first quarter valued at approximately $28,000. DSM Capital Partners LLC bought a new position in shares of Veeva Systems in the fourth quarter valued at about $29,000. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Veeva Systems in the fourth quarter valued at about $32,000. Blue Trust Inc. grew its stake in shares of Veeva Systems by 3,460.0% in the second quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock valued at $33,000 after acquiring an additional 173 shares in the last quarter. Finally, First Financial Corp IN acquired a new stake in Veeva Systems during the first quarter worth about $35,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Guggenheim increased their price objective on shares of Veeva Systems from $211.00 to $233.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Robert W. Baird raised their price target on shares of Veeva Systems from $245.00 to $251.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. JPMorgan Chase & Co. lifted their price objective on shares of Veeva Systems from $203.00 to $208.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. Canaccord Genuity Group reduced their price target on shares of Veeva Systems from $220.00 to $210.00 and set a “hold” rating for the company in a research report on Friday, May 31st. Finally, Evercore ISI reduced their price target 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 equities research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $229.96.

Insider Buying and Selling

In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of Veeva Systems stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total value of $470,600.00. Following the sale, the senior vice president now owns 9,035 shares in the company, valued at $1,807,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 10.50% of the stock is currently owned by company insiders.

Veeva Systems Trading Up 0.4 %

Shares of VEEV opened at $215.61 on Thursday. Veeva Systems Inc. has a 12 month low of $162.72 and a 12 month high of $236.90. The stock’s 50 day moving average is $198.15 and its two-hundred day moving average is $201.71. The firm has a market cap of $34.91 billion, a P/E ratio of 63.60, a PEG ratio of 2.12 and a beta of 0.81.

About Veeva Systems

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.