Creekmur Asset Management LLC Makes New Investment in Veeva Systems Inc. (NYSE:VEEV)

Creekmur Asset Management LLC bought a new position in Veeva Systems Inc. (NYSE:VEEV) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 885 shares of the technology company’s stock, valued at approximately $170,000.

A number of other hedge funds have also added to or reduced their stakes in VEEV. EP Wealth Advisors LLC purchased a new stake in shares of Veeva Systems in the 4th quarter worth approximately $202,000. Cim LLC purchased a new stake in shares of Veeva Systems in the 4th quarter worth approximately $996,000. GLOBALT Investments LLC GA purchased a new stake in shares of Veeva Systems in the 4th quarter worth approximately $1,206,000. Quarry LP lifted its position in shares of Veeva Systems by 411.8% in the 4th quarter. Quarry LP now owns 348 shares of the technology company’s stock worth $67,000 after purchasing an additional 280 shares during the period. Finally, Power Corp of Canada purchased a new stake in shares of Veeva Systems in the 4th quarter worth approximately $2,370,000. 88.20% of the stock is currently owned by institutional investors.

Veeva Systems Trading Down 0.6 %

VEEV stock traded down $1.07 during trading on Friday, reaching $184.70. 712,346 shares of the stock were exchanged, compared to its average volume of 1,310,458. The business has a 50 day moving average price of $199.25 and a 200-day moving average price of $204.36. Veeva Systems Inc. has a 1 year low of $162.72 and a 1 year high of $236.90. The firm has a market capitalization of $29.80 billion, a price-to-earnings ratio of 54.48, a P/E/G ratio of 1.83 and a beta of 0.80.

Analysts Set New Price Targets

VEEV has been the subject of a number of analyst reports. UBS Group decreased their target price on shares of Veeva Systems from $235.00 to $185.00 and set a “neutral” rating for the company in a research report on Friday, May 31st. Evercore ISI dropped their price target on shares of Veeva Systems from $230.00 to $200.00 and set an “in-line” rating on the stock in a research report on Friday, May 31st. The Goldman Sachs Group raised their price target on shares of Veeva Systems from $219.00 to $248.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Robert W. Baird raised their price target on shares of Veeva Systems from $251.00 to $255.00 and gave the company an “outperform” rating in a research report on Wednesday, May 29th. Finally, Truist Financial decreased their price objective on shares of Veeva Systems from $203.00 to $197.00 and set a “hold” rating on the stock in a report on Friday. One research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Veeva Systems has a consensus rating of “Moderate Buy” and a consensus target price of $227.95.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, EVP Alan Mateo sold 3,391 shares of Veeva Systems stock in a transaction dated 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 sale, the executive vice president now directly owns 21,983 shares in the company, valued at $4,415,505.38. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Veeva Systems news, EVP Alan Mateo sold 3,391 shares of Veeva Systems stock in a transaction dated 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 sale, the executive vice president now directly owns 21,983 shares in the company, valued at $4,415,505.38. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Timothy S. Cabral sold 15,000 shares of Veeva Systems stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $184.33, for a total transaction of $2,764,950.00. Following the sale, the chief financial officer now owns 8,391 shares of the company’s stock, valued at $1,546,713.03. The disclosure for this sale can be found here. Insiders sold a total of 21,989 shares of company stock worth $4,192,363 over the last three months. Insiders own 10.50% of the company’s stock.

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.