Townsquare Capital LLC Has $999,000 Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Townsquare Capital LLC raised its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 35.7% in the third quarter, according to its most recent filing with the SEC. The firm owned 4,762 shares of the technology company’s stock after purchasing an additional 1,253 shares during the quarter. Townsquare Capital LLC’s holdings in Veeva Systems were worth $999,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of Veeva Systems during the third quarter worth $26,000. Blue Trust Inc. boosted its position in Veeva Systems by 3,460.0% during 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 during the last quarter. DT Investment Partners LLC acquired a new stake in Veeva Systems during the 2nd quarter worth about $35,000. Harvest Fund Management Co. Ltd bought a new position in shares of Veeva Systems in the 3rd quarter worth about $49,000. Finally, Fairscale Capital LLC acquired a new position in shares of Veeva Systems in the 2nd quarter valued at about $46,000. Institutional investors own 88.20% of the company’s stock.

Analyst Ratings Changes

VEEV has been the subject of several recent analyst reports. Guggenheim raised their target price on Veeva Systems from $233.00 to $249.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. UBS Group lifted their price objective on shares of Veeva Systems from $185.00 to $215.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. Scotiabank assumed coverage on shares of Veeva Systems in a research note on Monday, November 18th. They set a “sector perform” rating and a $235.00 target price on the stock. Piper Sandler raised their price target on shares of Veeva Systems from $230.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $260.00 price objective on shares of Veeva Systems in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $236.92.

Insider Activity at Veeva Systems

In related news, insider Thomas D. Schwenger sold 1,126 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $240.01, for a total transaction of $270,251.26. Following the completion of the sale, the insider now directly owns 27,013 shares of the company’s stock, valued at approximately $6,483,390.13. This trade represents a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 10.50% of the stock is owned by insiders.

Veeva Systems Price Performance

VEEV opened at $227.46 on Tuesday. Veeva Systems Inc. has a 1 year low of $165.12 and a 1 year high of $240.68. The company has a market capitalization of $36.83 billion, a price-to-earnings ratio of 60.66, a P/E/G ratio of 2.21 and a beta of 0.81. The firm’s fifty day moving average price is $216.04 and its two-hundred day moving average price is $202.05.

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.