Handelsbanken Fonder AB Increases Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Handelsbanken Fonder AB grew its position in Veeva Systems Inc. (NYSE:VEEV) by 4.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 37,221 shares of the technology company’s stock after purchasing an additional 1,550 shares during the period. Handelsbanken Fonder AB’s holdings in Veeva Systems were worth $7,826,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in VEEV. Blue Trust Inc. raised its holdings in shares of Veeva Systems by 453.9% in the third quarter. Blue Trust Inc. now owns 986 shares of the technology company’s stock valued at $207,000 after purchasing an additional 808 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of Veeva Systems by 19,189.0% in the third quarter. International Assets Investment Management LLC now owns 119,206 shares of the technology company’s stock valued at $25,018,000 after purchasing an additional 118,588 shares during the last quarter. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Veeva Systems in the third quarter valued at about $307,000. IFM Investors Pty Ltd raised its holdings in shares of Veeva Systems by 0.4% in the third quarter. IFM Investors Pty Ltd now owns 29,486 shares of the technology company’s stock valued at $6,188,000 after purchasing an additional 109 shares during the last quarter. Finally, Mediolanum International Funds Ltd raised its holdings in shares of Veeva Systems by 43.6% in the third quarter. Mediolanum International Funds Ltd now owns 59,326 shares of the technology company’s stock valued at $12,488,000 after purchasing an additional 18,001 shares during the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Insider Transactions at Veeva Systems

In other news, SVP Jonathan Faddis sold 1,694 shares of the business’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 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.50% of the stock is owned by insiders.

Veeva Systems Stock Down 1.2 %

VEEV stock opened at $226.10 on Friday. The firm has a market capitalization of $36.71 billion, a PE ratio of 55.83, a PEG ratio of 1.89 and a beta of 0.85. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93. The stock has a 50-day simple moving average of $223.76 and a two-hundred day simple moving average of $217.39.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. KeyCorp decreased their price objective on shares of Veeva Systems from $285.00 to $255.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. The Goldman Sachs Group lowered shares of Veeva Systems from a “buy” rating to a “sell” rating and decreased their price target for the stock from $261.00 to $200.00 in a research note on Thursday, January 23rd. Evercore ISI lifted their price target on shares of Veeva Systems from $220.00 to $245.00 and gave the stock an “in-line” rating in a report on Friday, December 6th. Citigroup increased their price objective on Veeva Systems from $281.00 to $307.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, Barclays boosted their target price on Veeva Systems from $260.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $255.08.

Veeva Systems Company 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.