Veeva Systems Inc. (NYSE:VEEV) Shares Bought by FIL Ltd

FIL Ltd raised its holdings in Veeva Systems Inc. (NYSE:VEEV) by 3.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 170,465 shares of the technology company’s stock after purchasing an additional 6,424 shares during the quarter. FIL Ltd’s holdings in Veeva Systems were worth $35,840,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Cardinal Capital Management raised its position in Veeva Systems by 0.3% in the fourth quarter. Cardinal Capital Management now owns 15,727 shares of the technology company’s stock valued at $3,307,000 after purchasing an additional 44 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake in Veeva Systems by 72.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock worth $25,000 after acquiring an additional 50 shares in the last quarter. Patriot Financial Group Insurance Agency LLC boosted its holdings in Veeva Systems by 0.7% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 6,975 shares of the technology company’s stock valued at $1,467,000 after acquiring an additional 51 shares during the period. CHICAGO TRUST Co NA grew its position in Veeva Systems by 2.9% in the 4th quarter. CHICAGO TRUST Co NA now owns 1,880 shares of the technology company’s stock valued at $395,000 after acquiring an additional 53 shares in the last quarter. Finally, Old North State Wealth Management LLC increased its stake in Veeva Systems by 0.4% during the fourth quarter. Old North State Wealth Management LLC now owns 15,351 shares of the technology company’s stock worth $3,228,000 after purchasing an additional 55 shares during the period. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Veeva Systems Stock Down 2.9 %

Shares of NYSE:VEEV opened at $210.78 on Friday. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93. The firm’s 50-day simple moving average is $229.38 and its 200-day simple moving average is $223.00. The company has a market cap of $34.29 billion, a price-to-earnings ratio of 52.04, a PEG ratio of 1.89 and a beta of 1.05.

Insider Activity at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 787 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total value of $178,019.40. Following the completion of the transaction, the senior vice president now directly owns 8,668 shares of the company’s stock, valued at approximately $1,960,701.60. This trade represents a 8.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Timothy S. Cabral sold 3,882 shares of the business’s stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $216.83, for a total value of $841,734.06. Following the sale, the director now directly owns 5,500 shares in the company, valued at $1,192,565. This trade represents a 41.38 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 10.50% of the company’s stock.

Analysts Set New Price Targets

VEEV has been the topic of several recent research reports. StockNews.com raised shares of Veeva Systems from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. JPMorgan Chase & Co. upped their price objective on Veeva Systems from $218.00 to $249.00 and gave the stock a “neutral” rating in a research report on Thursday, March 20th. Needham & Company LLC reiterated a “buy” rating and issued a $270.00 target price on shares of Veeva Systems in a report on Thursday, March 6th. KeyCorp cut their price target on Veeva Systems from $285.00 to $255.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Finally, Morgan Stanley upped their target price on shares of Veeva Systems from $195.00 to $201.00 and gave the stock an “underweight” rating in a research note on Thursday, March 6th. Two investment 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $256.52.

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.