Assenagon Asset Management S.A. Purchases 38,793 Shares of Veeva Systems Inc. (NYSE:VEEV)

Assenagon Asset Management S.A. raised its position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 182.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,072 shares of the technology company's stock after purchasing an additional 38,793 shares during the period. Assenagon Asset Management S.A.'s holdings in Veeva Systems were worth $12,630,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA grew its stake in shares of Veeva Systems by 64.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company's stock worth $744,084,000 after buying an additional 1,392,256 shares during the last quarter. State Street Corp raised its position in Veeva Systems by 1.5% in the third quarter. State Street Corp now owns 3,293,141 shares of the technology company's stock valued at $691,132,000 after purchasing an additional 47,872 shares during the last quarter. FMR LLC boosted its stake in shares of Veeva Systems by 25.7% during the third quarter. FMR LLC now owns 2,981,244 shares of the technology company's stock valued at $625,674,000 after purchasing an additional 610,021 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Veeva Systems by 5.7% during the third quarter. Geode Capital Management LLC now owns 2,765,236 shares of the technology company's stock worth $579,630,000 after purchasing an additional 149,807 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Veeva Systems by 73.2% during the third quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company's stock worth $536,972,000 after purchasing an additional 1,081,501 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company's stock.

Veeva Systems Trading Up 0.9 %

NYSE VEEV traded up $1.92 during mid-day trading on Friday, hitting $216.67. The company's stock had a trading volume of 715,069 shares, compared to its average volume of 940,345. The firm has a market capitalization of $35.18 billion, a price-to-earnings ratio of 53.50, a PEG ratio of 1.91 and a beta of 0.84. The company's 50 day simple moving average is $222.31 and its 200 day simple moving average is $209.66. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93.

Analyst Upgrades and Downgrades

VEEV has been the topic of several recent research reports. Stephens initiated coverage on shares of Veeva Systems in a research report on Friday, December 20th. They set an "overweight" rating and a $280.00 target price on the stock. Mizuho assumed coverage on shares of Veeva Systems in a report on Wednesday, December 4th. They set an "outperform" rating and a $275.00 price target on the stock. Scotiabank boosted their price objective on shares of Veeva Systems from $235.00 to $240.00 and gave the stock a "sector perform" rating in a research note on Friday, December 6th. Citigroup raised their target price on Veeva Systems from $281.00 to $307.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. Finally, Royal Bank of Canada upped their price target on Veeva Systems from $275.00 to $285.00 and gave the company an "outperform" rating in a research report on Friday, December 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, Veeva Systems presently has a consensus rating of "Moderate Buy" and an average target price of $255.74.

Insider Buying and Selling

In related news, insider Thomas D. Schwenger sold 1,126 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $240.01, for a total transaction of $270,251.26. Following the completion of the sale, the insider now directly owns 27,013 shares of the company's stock, valued at approximately $6,483,390.13. This trade represents a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Jonathan Faddis sold 1,694 shares of Veeva Systems stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total value of $390,128.20. Following the sale, the senior vice president now owns 8,061 shares in the company, valued at $1,856,448.30. The trade was 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 currently owned by company insiders.

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.