Lecap Asset Management Ltd. Has $3.21 Million Stake in Veeva Systems Inc. (NYSE:VEEV)

Lecap Asset Management Ltd. cut its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 32.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,250 shares of the technology company’s stock after selling 7,410 shares during the quarter. Veeva Systems comprises about 0.9% of Lecap Asset Management Ltd.’s holdings, making the stock its 14th largest position. Lecap Asset Management Ltd.’s holdings in Veeva Systems were worth $3,206,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Sanctuary Advisors LLC bought a new position in shares of Veeva Systems in the 2nd quarter worth about $1,231,000. SG Americas Securities LLC grew its stake in Veeva Systems by 667.4% during the third quarter. SG Americas Securities LLC now owns 5,594 shares of the technology company’s stock worth $1,174,000 after purchasing an additional 4,865 shares during the period. GAMMA Investing LLC increased its holdings in Veeva Systems by 13.1% in the third quarter. GAMMA Investing LLC now owns 977 shares of the technology company’s stock worth $205,000 after purchasing an additional 113 shares in the last quarter. Atomi Financial Group Inc. lifted its stake in Veeva Systems by 23.9% in the third quarter. Atomi Financial Group Inc. now owns 3,716 shares of the technology company’s stock valued at $780,000 after buying an additional 717 shares during the period. Finally, Brookstone Capital Management bought a new position in shares of Veeva Systems during the 3rd quarter worth approximately $203,000. Institutional investors own 88.20% of the company’s stock.

Wall Street Analysts Forecast Growth

VEEV has been the subject of several research analyst reports. Stifel Nicolaus lifted their price objective on shares of Veeva Systems from $240.00 to $272.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Citigroup upped their price objective on shares of Veeva Systems from $281.00 to $307.00 and gave the company a “buy” rating in a report on Monday, December 9th. JPMorgan Chase & Co. boosted their target price on Veeva Systems from $208.00 to $218.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. Scotiabank lifted their price objective on shares of Veeva Systems from $235.00 to $240.00 and gave the stock a “sector perform” rating in a report on Friday, December 6th. Finally, Royal Bank of Canada increased their price objective on shares of Veeva Systems from $275.00 to $285.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, Veeva Systems has a consensus rating of “Moderate Buy” and an average target price of $253.96.

Veeva Systems Trading Down 0.1 %

Veeva Systems stock opened at $239.09 on Friday. The firm has a 50 day simple moving average of $224.05 and a 200 day simple moving average of $213.83. Veeva Systems Inc. has a 1-year low of $170.25 and a 1-year high of $258.93. The firm has a market capitalization of $38.82 billion, a price-to-earnings ratio of 59.04, a P/E/G ratio of 2.05 and a beta of 0.85.

Insider Transactions at Veeva Systems

In related news, SVP Jonathan Faddis sold 1,694 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total transaction of $390,128.20. Following the completion of the transaction, the senior vice president now owns 8,061 shares of the company’s stock, valued at approximately $1,856,448.30. The trade was a 17.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 10.50% of the company’s stock.

About Veeva Systems

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.