Davidson Capital Management Inc. Increases Stake in Veeva Systems Inc. (NYSE:VEEV)

Davidson Capital Management Inc. grew its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 52.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,355 shares of the technology company’s stock after purchasing an additional 5,949 shares during the quarter. Veeva Systems makes up about 1.0% of Davidson Capital Management Inc.’s portfolio, making the stock its 28th biggest holding. Davidson Capital Management Inc.’s holdings in Veeva Systems were worth $3,176,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Advisors Asset Management Inc. acquired a new position in Veeva Systems during the first quarter worth about $28,000. DSM Capital Partners LLC acquired a new position in shares of Veeva Systems during the 4th quarter worth approximately $29,000. First Financial Corp IN purchased a new stake in shares of Veeva Systems in the first quarter valued at approximately $35,000. Larson Financial Group LLC increased its holdings 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 last quarter. Finally, Vermillion & White Wealth Management Group LLC purchased a new position in Veeva Systems during the fourth quarter worth approximately $32,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Stock Down 0.5 %

NYSE:VEEV opened at $214.42 on Friday. Veeva Systems Inc. has a 52 week low of $162.72 and a 52 week high of $236.90. The company has a fifty day simple moving average of $198.72 and a two-hundred day simple moving average of $201.80. The company has a market cap of $34.72 billion, a price-to-earnings ratio of 63.25, a price-to-earnings-growth ratio of 2.12 and a beta of 0.81.

Insider Activity at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $1,807,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 10.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have issued reports on VEEV shares. Piper Sandler raised their target price on Veeva Systems from $225.00 to $230.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Bank of America raised their price objective on shares of Veeva Systems from $204.00 to $240.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. BTIG Research began coverage on shares of Veeva Systems in a report on Tuesday, July 9th. They issued a “buy” rating and a $240.00 target price on the stock. Needham & Company LLC restated a “buy” rating and set a $260.00 price target on shares of Veeva Systems in a report on Thursday, August 29th. Finally, Robert W. Baird upped their price objective on Veeva Systems from $245.00 to $251.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $229.96.

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.