Symmetry Partners LLC Makes New Investment in Veeva Systems Inc. (NYSE:VEEV)

Symmetry Partners LLC purchased a new stake in Veeva Systems Inc. (NYSE:VEEV) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,111 shares of the technology company’s stock, valued at approximately $257,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Operose Advisors LLC acquired a new stake in Veeva Systems during the third quarter worth about $29,000. DSM Capital Partners LLC acquired a new stake in Veeva Systems during the fourth quarter worth about $29,000. Vermillion & White Wealth Management Group LLC acquired a new stake in Veeva Systems during the fourth quarter worth about $32,000. Parkside Financial Bank & Trust grew its position in Veeva Systems by 81.9% during the third quarter. Parkside Financial Bank & Trust now owns 171 shares of the technology company’s stock worth $35,000 after buying an additional 77 shares in the last quarter. Finally, American National Bank acquired a new stake in Veeva Systems during the fourth quarter worth about $36,000. 88.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Piper Sandler cut their price target on shares of Veeva Systems from $245.00 to $235.00 and set an “overweight” rating for the company in a research note on Friday, May 31st. JPMorgan Chase & Co. raised their price target on shares of Veeva Systems from $183.00 to $222.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 13th. KeyCorp raised their price target on shares of Veeva Systems from $232.00 to $250.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. Royal Bank of Canada restated an “outperform” rating and set a $250.00 price target on shares of Veeva Systems in a research note on Wednesday, March 27th. Finally, Oppenheimer restated an “outperform” rating and set a $225.00 price target on shares of Veeva Systems in a research note on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Veeva Systems has an average rating of “Moderate Buy” and a consensus target price of $227.95.

Insider Activity

In other news, SVP Jonathan Faddis sold 3,598 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $207.42, for a total value of $746,297.16. Following the completion of the transaction, the senior vice president now owns 10,668 shares of the company’s stock, valued at approximately $2,212,756.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, SVP Jonathan Faddis sold 3,598 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $207.42, for a total value of $746,297.16. Following the completion of the transaction, the senior vice president now owns 10,668 shares of the company’s stock, valued at approximately $2,212,756.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Alan Mateo sold 3,391 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $200.86, for a total transaction of $681,116.26. Following the completion of the transaction, the executive vice president now directly owns 21,983 shares of the company’s stock, valued at approximately $4,415,505.38. The disclosure for this sale can be found here. Insiders sold 21,989 shares of company stock valued at $4,192,363 in the last quarter. Company insiders own 10.50% of the company’s stock.

Veeva Systems Stock Performance

VEEV traded down $1.01 during trading on Tuesday, reaching $178.74. 1,187,660 shares of the company’s stock were exchanged, compared to its average volume of 1,001,524. The company’s fifty day moving average price is $198.54 and its 200-day moving average price is $204.82. Veeva Systems Inc. has a fifty-two week low of $162.72 and a fifty-two week high of $236.90. The firm has a market capitalization of $28.89 billion, a PE ratio of 52.91, a P/E/G ratio of 1.82 and a beta of 0.80.

Veeva Systems 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.