Peapack Gladstone Financial Corp Increases Holdings in Veeva Systems Inc. (NYSE:VEEV)

Peapack Gladstone Financial Corp increased its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 5.6% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 70,147 shares of the technology company’s stock after purchasing an additional 3,741 shares during the period. Peapack Gladstone Financial Corp’s holdings in Veeva Systems were worth $14,721,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Tidal Investments LLC boosted its holdings in Veeva Systems by 77.1% in the 3rd quarter. Tidal Investments LLC now owns 22,330 shares of the technology company’s stock valued at $4,686,000 after purchasing an additional 9,724 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Veeva Systems in the third quarter worth $168,000. World Investment Advisors LLC purchased a new stake in shares of Veeva Systems in the third quarter worth $2,131,000. Sanctuary Advisors LLC boosted its stake in Veeva Systems by 19.7% during the third quarter. Sanctuary Advisors LLC now owns 7,335 shares of the technology company’s stock valued at $1,589,000 after buying an additional 1,206 shares during the period. Finally, Tudor Financial Inc. purchased a new position in Veeva Systems during the third quarter worth about $265,000. Institutional investors own 88.20% of the company’s stock.

Insider Buying and Selling

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.01, for a total value of $270,251.26. Following the completion of the transaction, the insider now directly owns 27,013 shares in the company, valued at approximately $6,483,390.13. This represents a 4.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jonathan Faddis sold 1,694 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total transaction of $390,128.20. Following the completion of the sale, the senior vice president now directly owns 8,061 shares of the company’s stock, valued at approximately $1,856,448.30. This represents a 17.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on VEEV shares. Truist Financial reissued a “hold” rating and set a $261.00 price objective (up previously from $207.00) on shares of Veeva Systems in a report on Friday, December 6th. Stifel Nicolaus boosted their price target on shares of Veeva Systems from $240.00 to $272.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Citigroup raised their price objective on shares of Veeva Systems from $281.00 to $307.00 and gave the company a “buy” rating in a research report on Monday, December 9th. UBS Group upped their target price on shares of Veeva Systems from $185.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Finally, Barclays raised their price target on Veeva Systems from $260.00 to $275.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $255.35.

Veeva Systems Trading Down 1.6 %

VEEV stock opened at $228.78 on Friday. The stock has a market capitalization of $37.05 billion, a price-to-earnings ratio of 56.49, a PEG ratio of 2.07 and a beta of 0.82. The firm’s 50-day moving average price is $221.36 and its two-hundred day moving average price is $204.00. Veeva Systems Inc. has a 12-month low of $170.25 and a 12-month high of $258.93.

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.