Financiere des Professionnels Fonds d investissement inc. Raises Stake in Veeva Systems Inc. $VEEV

Financiere des Professionnels Fonds d investissement inc. raised its position in Veeva Systems Inc. (NYSE:VEEV) by 90.2% in the second quarter, Holdings Channel reports. The fund owned 20,293 shares of the technology company’s stock after buying an additional 9,623 shares during the period. Financiere des Professionnels Fonds d investissement inc.’s holdings in Veeva Systems were worth $5,844,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Abound Financial LLC purchased a new position in Veeva Systems in the first quarter worth approximately $25,000. ORG Partners LLC purchased a new position in Veeva Systems in the first quarter worth approximately $26,000. Golden State Wealth Management LLC lifted its stake in Veeva Systems by 152.9% in the first quarter. Golden State Wealth Management LLC now owns 129 shares of the technology company’s stock worth $30,000 after acquiring an additional 78 shares during the last quarter. Wayfinding Financial LLC purchased a new position in Veeva Systems in the first quarter worth approximately $32,000. Finally, Key Financial Inc lifted its position in shares of Veeva Systems by 161.0% during the 1st quarter. Key Financial Inc now owns 154 shares of the technology company’s stock worth $36,000 after buying an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Price Performance

VEEV stock opened at $274.15 on Wednesday. The company has a fifty day moving average price of $280.89 and a 200 day moving average price of $258.06. Veeva Systems Inc. has a 12 month low of $200.30 and a 12 month high of $296.72. The company has a market cap of $44.94 billion, a price-to-earnings ratio of 56.29, a price-to-earnings-growth ratio of 2.15 and a beta of 0.95.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on VEEV. Stifel Nicolaus boosted their price objective on shares of Veeva Systems from $295.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Evercore ISI boosted their price objective on shares of Veeva Systems from $285.00 to $295.00 and gave the stock an “in-line” rating in a research report on Thursday, August 28th. Wells Fargo & Company boosted their price objective on shares of Veeva Systems from $300.00 to $326.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 26th. Canaccord Genuity Group boosted their price objective on shares of Veeva Systems from $270.00 to $300.00 and gave the stock a “hold” rating in a research report on Thursday, August 28th. Finally, Morgan Stanley boosted their price objective on shares of Veeva Systems from $210.00 to $222.00 and gave the stock an “underweight” rating in a research report on Thursday, August 28th. Seventeen research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $301.48.

Insider Buying and Selling at Veeva Systems

In related news, Director Priscilla Hung sold 171 shares of the company’s stock in a transaction on Monday, July 7th. The shares were sold at an average price of $284.40, for a total value of $48,632.40. Following the completion of the sale, the director owned 3,966 shares in the company, valued at $1,127,930.40. This represents a 4.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jonathan Faddis sold 720 shares of the business’s stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $285.62, for a total transaction of $205,646.40. Following the completion of the transaction, the senior vice president directly owned 7,902 shares in the company, valued at $2,256,969.24. This represents a 8.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,063 shares of company stock valued at $302,955. 10.30% of the stock is owned by insiders.

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.