Sivia Capital Partners LLC Acquires 2,164 Shares of Veeva Systems Inc. $VEEV

Sivia Capital Partners LLC boosted its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 225.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,122 shares of the technology company’s stock after purchasing an additional 2,164 shares during the period. Sivia Capital Partners LLC’s holdings in Veeva Systems were worth $899,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. TFB Advisors LLC lifted its stake in Veeva Systems by 1.2% during the first quarter. TFB Advisors LLC now owns 3,586 shares of the technology company’s stock worth $831,000 after purchasing an additional 44 shares during the last quarter. Marks Group Wealth Management Inc lifted its stake in Veeva Systems by 3.3% during the first quarter. Marks Group Wealth Management Inc now owns 1,427 shares of the technology company’s stock worth $331,000 after purchasing an additional 46 shares during the last quarter. Harbour Investments Inc. lifted its stake in Veeva Systems by 7.6% during the first quarter. Harbour Investments Inc. now owns 789 shares of the technology company’s stock worth $183,000 after purchasing an additional 56 shares during the last quarter. Parallel Advisors LLC lifted its stake in Veeva Systems by 4.7% during the second quarter. Parallel Advisors LLC now owns 1,236 shares of the technology company’s stock worth $356,000 after purchasing an additional 56 shares during the last quarter. Finally, Crestwood Advisors Group LLC lifted its stake in Veeva Systems by 3.7% during the first quarter. Crestwood Advisors Group LLC now owns 1,690 shares of the technology company’s stock worth $391,000 after purchasing an additional 61 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on VEEV shares. Barclays upped their target price on Veeva Systems from $300.00 to $325.00 and gave the stock an “overweight” rating in a research note on Thursday, August 28th. Mizuho upped their price target on shares of Veeva Systems from $295.00 to $325.00 and gave the stock an “outperform” rating in a report on Friday, August 29th. UBS Group upped their price target on shares of Veeva Systems from $285.00 to $310.00 and gave the stock a “neutral” rating in a report on Thursday, August 28th. Canaccord Genuity Group upped their price target on shares of Veeva Systems from $270.00 to $300.00 and gave the stock a “hold” rating in a report on Thursday, August 28th. Finally, Oppenheimer reiterated an “outperform” rating and set a $325.00 price target on shares of Veeva Systems in a report on Thursday, August 28th. Seventeen analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Veeva Systems presently has a consensus rating of “Moderate Buy” and an average target price of $301.48.

Insiders Place Their Bets

In related news, Director Priscilla Hung sold 171 shares of the stock in a transaction on Monday, July 7th. The stock was sold at an average price of $284.40, for a total value of $48,632.40. Following the completion of the sale, the director directly owned 3,966 shares in the company, valued at $1,127,930.40. This represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Jonathan Faddis sold 720 shares of the stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $285.62, for a total value of $205,646.40. Following the completion of the sale, the senior vice president owned 7,902 shares of the company’s stock, valued at $2,256,969.24. The trade was a 8.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,063 shares of company stock valued at $302,955 over the last 90 days. 10.30% of the stock is currently owned by company insiders.

Veeva Systems Stock Down 0.8%

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

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.