Veeva Systems Inc. (NYSE:VEEV) Shares Bought by APG Asset Management N.V.

APG Asset Management N.V. lifted its stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 483.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 90,382 shares of the technology company's stock after acquiring an additional 74,891 shares during the quarter. APG Asset Management N.V. owned 0.06% of Veeva Systems worth $18,351,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VEEV. MassMutual Private Wealth & Trust FSB raised 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 valued at $25,000 after purchasing an additional 50 shares during the period. Centricity Wealth Management LLC bought a new position in Veeva Systems during the fourth quarter valued at $25,000. Smithfield Trust Co boosted its position in shares of Veeva Systems by 145.5% during the fourth quarter. Smithfield Trust Co now owns 135 shares of the technology company's stock valued at $27,000 after buying an additional 80 shares during the period. Retirement Wealth Solutions LLC bought a new position in Veeva Systems in the 4th quarter worth about $31,000. Finally, Avion Wealth increased its holdings in Veeva Systems by 635.0% during the 4th quarter. Avion Wealth now owns 147 shares of the technology company's stock worth $30,000 after purchasing an additional 127 shares during the period. Institutional investors own 88.20% of the company's stock.

Insider Activity at Veeva Systems

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

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Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. KeyCorp decreased their target price on shares of Veeva Systems from $285.00 to $255.00 and set an "overweight" rating for the company in a research report on Wednesday, January 8th. Robert W. Baird upped their price objective on Veeva Systems from $283.00 to $285.00 and gave the stock an "outperform" rating in a research report on Thursday, March 6th. JPMorgan Chase & Co. raised their target price on Veeva Systems from $218.00 to $249.00 and gave the company a "neutral" rating in a research report on Thursday, March 20th. Stephens reiterated an "overweight" rating and set a $280.00 target price on shares of Veeva Systems in a research report on Thursday, March 6th. Finally, Truist Financial boosted their target price on shares of Veeva Systems from $210.00 to $217.00 and gave the stock a "hold" rating in a research note on Thursday, March 6th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $256.52.

Veeva Systems Stock Performance

Shares of VEEV stock traded down $1.01 during mid-day trading on Tuesday, reaching $222.65. 400,554 shares of the company were exchanged, compared to its average volume of 1,065,137. The company has a market capitalization of $36.22 billion, a P/E ratio of 54.98, a P/E/G ratio of 1.89 and a beta of 1.05. The business's 50 day simple moving average is $228.78 and its 200 day simple moving average is $223.27. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93.

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.