UNIVEST FINANCIAL Corp Acquires 736 Shares of Veeva Systems Inc. (NYSE:VEEV)

UNIVEST FINANCIAL Corp grew its holdings in Veeva Systems Inc. (NYSE:VEEV) by 72.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,745 shares of the technology company’s stock after purchasing an additional 736 shares during the period. UNIVEST FINANCIAL Corp’s holdings in Veeva Systems were worth $319,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Advisors Asset Management Inc. acquired a new position in Veeva Systems during the first quarter valued at approximately $28,000. DSM Capital Partners LLC bought a new stake in shares of Veeva Systems during the 4th quarter worth approximately $29,000. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Veeva Systems in the 4th quarter valued at approximately $32,000. Blue Trust Inc. grew its stake in shares of Veeva Systems by 3,460.0% in the second quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock valued at $33,000 after buying an additional 173 shares in the last quarter. Finally, First Financial Corp IN acquired a new position in Veeva Systems during the first quarter worth $35,000. Institutional investors own 88.20% of the company’s stock.

Insider Buying and Selling at Veeva Systems

In other news, SVP Jonathan Faddis sold 2,353 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total transaction of $470,600.00. Following the sale, the senior vice president now directly owns 9,035 shares of the company’s stock, valued at approximately $1,807,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 10.50% of the company’s stock.

Veeva Systems Trading Up 0.3 %

NYSE VEEV opened at $215.97 on Friday. The company has a market cap of $34.91 billion, a price-to-earnings ratio of 63.71, a PEG ratio of 2.12 and a beta of 0.81. Veeva Systems Inc. has a 1-year low of $162.72 and a 1-year high of $236.90. The company has a 50 day moving average of $192.22 and a 200-day moving average of $202.00.

Analysts Set New Price Targets

VEEV has been the subject of a number of recent analyst reports. Truist Financial increased their price target on shares of Veeva Systems from $197.00 to $207.00 and gave the company a “hold” rating in a research note on Tuesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 target price on shares of Veeva Systems in a research note on Thursday, August 29th. Canaccord Genuity Group lowered their price target on Veeva Systems from $220.00 to $210.00 and set a “hold” rating on the stock in a research report on Friday, May 31st. UBS Group raised their price objective on Veeva Systems from $185.00 to $215.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. Finally, Bank of America boosted their target price on Veeva Systems from $204.00 to $240.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Veeva Systems has a consensus rating of “Moderate Buy” and a consensus price target of $230.57.

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.