Andra AP fonden Purchases 33,100 Shares of Veeva Systems Inc. (NYSE:VEEV)

Andra AP fonden boosted its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 110.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 63,000 shares of the technology company’s stock after purchasing an additional 33,100 shares during the period. Andra AP fonden’s holdings in Veeva Systems were worth $11,530,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Western Pacific Wealth Management LP increased its position in Veeva Systems by 23.3% in the first quarter. Western Pacific Wealth Management LP now owns 307 shares of the technology company’s stock worth $71,000 after purchasing an additional 58 shares during the period. Quadrant Capital Group LLC grew its position in shares of Veeva Systems by 14.7% during the 4th quarter. Quadrant Capital Group LLC now owns 530 shares of the technology company’s stock worth $102,000 after buying an additional 68 shares during the period. Simplicity Wealth LLC raised its stake in shares of Veeva Systems by 1.7% during the second quarter. Simplicity Wealth LLC now owns 4,029 shares of the technology company’s stock worth $737,000 after buying an additional 69 shares during the last quarter. Wedmont Private Capital lifted its holdings in Veeva Systems by 3.8% in the first quarter. Wedmont Private Capital now owns 1,981 shares of the technology company’s stock valued at $429,000 after buying an additional 72 shares during the period. Finally, Davidson Capital Management Inc. boosted its stake in Veeva Systems by 0.6% in the first quarter. Davidson Capital Management Inc. now owns 11,406 shares of the technology company’s stock valued at $2,643,000 after acquiring an additional 72 shares during the last quarter. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Price Performance

Shares of NYSE VEEV opened at $221.89 on Wednesday. The stock has a market capitalization of $35.87 billion, a P/E ratio of 65.45, a PEG ratio of 2.11 and a beta of 0.81. Veeva Systems Inc. has a one year low of $162.72 and a one year high of $236.90. The firm’s 50 day simple moving average is $193.83 and its two-hundred day simple moving average is $201.79.

Insider Buying and Selling

In other Veeva Systems 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 value of $470,600.00. Following the sale, the senior vice president now owns 9,035 shares in the company, valued at $1,807,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 10.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on VEEV shares. BTIG Research began coverage on Veeva Systems in a research note on Tuesday, July 9th. They issued a “buy” rating and a $240.00 price target for the company. Robert W. Baird upped their target price on shares of Veeva Systems from $245.00 to $251.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Truist Financial lifted their price target on shares of Veeva Systems from $197.00 to $207.00 and gave the stock a “hold” rating in a research report on Tuesday, September 3rd. Barclays upped their price objective on shares of Veeva Systems from $220.00 to $240.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 target price on shares of Veeva Systems in a report on Thursday, August 29th. One 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $229.96.

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.