LRT Capital Management LLC Buys 3,800 Shares of Veeva Systems Inc. (NYSE:VEEV)

LRT Capital Management LLC raised its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 125.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,837 shares of the technology company’s stock after acquiring an additional 3,800 shares during the period. LRT Capital Management LLC’s holdings in Veeva Systems were worth $1,437,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in VEEV. Janus Henderson Group PLC increased its position in Veeva Systems by 7.0% during the fourth quarter. Janus Henderson Group PLC now owns 14,788 shares of the technology company’s stock worth $3,109,000 after acquiring an additional 964 shares during the period. Graham Capital Management L.P. boosted its holdings in Veeva Systems by 35.4% in the 4th quarter. Graham Capital Management L.P. now owns 14,826 shares of the technology company’s stock valued at $3,117,000 after purchasing an additional 3,878 shares during the period. Focus Partners Wealth grew its position in shares of Veeva Systems by 0.9% during the 4th quarter. Focus Partners Wealth now owns 96,961 shares of the technology company’s stock worth $20,386,000 after purchasing an additional 886 shares in the last quarter. Ellevest Inc. increased its holdings in shares of Veeva Systems by 3.5% during the fourth quarter. Ellevest Inc. now owns 2,453 shares of the technology company’s stock worth $516,000 after purchasing an additional 82 shares during the period. Finally, Ensign Peak Advisors Inc raised its position in shares of Veeva Systems by 63.3% in the fourth quarter. Ensign Peak Advisors Inc now owns 103,335 shares of the technology company’s stock valued at $21,726,000 after buying an additional 40,073 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on VEEV. Needham & Company LLC reissued a “buy” rating and set a $270.00 price target on shares of Veeva Systems in a research report on Thursday, March 6th. Morgan Stanley upped their target price on Veeva Systems from $195.00 to $201.00 and gave the company an “underweight” rating in a research report on Thursday, March 6th. StockNews.com upgraded Veeva Systems from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. The Goldman Sachs Group downgraded Veeva Systems from a “buy” rating to a “sell” rating and dropped their price target for the company from $261.00 to $200.00 in a research note on Thursday, January 23rd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Veeva Systems from $218.00 to $249.00 and gave the stock a “neutral” rating in a research note on Thursday, March 20th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $254.92.

Insider Transactions at Veeva Systems

In other news, SVP Jonathan Faddis sold 787 shares of the company’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total value of $178,019.40. Following the sale, the senior vice president now directly owns 8,668 shares of the company’s stock, valued at approximately $1,960,701.60. This represents a 8.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Thomas D. Schwenger sold 1,200 shares of the business’s stock in a transaction on Monday, April 14th. The shares were sold at an average price of $220.97, for a total transaction of $265,164.00. Following the completion of the transaction, the insider now owns 25,889 shares in the company, valued at approximately $5,720,692.33. The trade was a 4.43% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,869 shares of company stock worth $1,284,917. Company insiders own 10.50% of the company’s stock.

Veeva Systems Price Performance

NYSE:VEEV opened at $236.60 on Monday. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93. The company has a market cap of $38.49 billion, a PE ratio of 58.42, a P/E/G ratio of 1.89 and a beta of 0.96. The firm’s 50 day simple moving average is $227.98 and its 200 day simple moving average is $225.39.

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.