Gateway Investment Advisers LLC Sells 2,406 Shares of Veeva Systems Inc. $VEEV

by · The Markets Daily

Gateway Investment Advisers LLC lowered its stake in shares of Veeva Systems Inc. (NYSE:VEEV – Free Report) by 6.1% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 36,956 shares of the technology company’s stock after selling 2,406 shares during the period. Gateway Investment Advisers LLC’s holdings in Veeva Systems were worth $10,643,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Sowell Financial Services LLC bought a new position in Veeva Systems during the first quarter valued at about $274,000. Crossmark Global Holdings Inc. bought a new position in Veeva Systems during the first quarter valued at about $299,000. Janney Montgomery Scott LLC bought a new position in Veeva Systems during the first quarter valued at about $5,876,000. GAMMA Investing LLC grew its position in Veeva Systems by 13.8% during the first quarter. GAMMA Investing LLC now owns 1,823 shares of the technology company’s stock valued at $422,000 after buying an additional 221 shares during the period. Finally, Private Trust Co. NA boosted its position in Veeva Systems by 35.0% during the first quarter. Private Trust Co. NA now owns 247 shares of the technology company’s stock worth $57,000 after purchasing an additional 64 shares during the period. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Performance

VEEV stock opened at $274.10 on Thursday. The company has a market capitalization of $44.93 billion, a PE ratio of 56.28, a price-to-earnings-growth ratio of 2.13 and a beta of 0.95. Veeva Systems Inc. has a one year low of $200.30 and a one year high of $296.72. The company’s 50 day moving average price is $280.69 and its two-hundred day moving average price is $258.17.

Insider Activity at Veeva Systems

In other Veeva Systems news, Director Priscilla Hung sold 172 shares of Veeva Systems stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $283.00, for a total transaction of $48,676.00. Following the transaction, the director directly owned 4,137 shares of the company’s stock, valued at approximately $1,170,771. This trade represents a 3.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Jonathan Faddis sold 720 shares of Veeva Systems stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $285.62, for a total transaction of $205,646.40. Following the transaction, the senior vice president directly owned 7,902 shares in the company, valued at $2,256,969.24. This trade represents a 8.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,063 shares of company stock worth $302,955 over the last three months. Insiders own 10.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on VEEV shares. Stifel Nicolaus increased their target price on shares of Veeva Systems from $295.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Truist Financial increased their target price on shares of Veeva Systems from $268.00 to $275.00 and gave the stock a “hold” rating in a research report on Thursday, August 28th. Barclays increased their target price on shares of Veeva Systems from $300.00 to $325.00 and gave the stock an “overweight” rating in a research report on Thursday, August 28th. Needham & Company LLC increased their target price on shares of Veeva Systems from $300.00 to $355.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Finally, UBS Group increased their target price on shares of Veeva Systems from $285.00 to $310.00 and gave the stock a “neutral” rating in a research report on Thursday, August 28th. Seventeen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $301.48.

Get Our Latest Analysis on VEEV

Veeva Systems Profile

(Free Report)

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.

See Also

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