Veeva Systems Inc. (NYSE:VEEV) Shares Acquired by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. grew its stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 2.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 56,215 shares of the technology company's stock after acquiring an additional 1,531 shares during the period. Asset Management One Co. Ltd.'s holdings in Veeva Systems were worth $12,031,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. General American Investors Co. Inc. bought a new stake in shares of Veeva Systems during the third quarter valued at approximately $5,133,000. Toronto Dominion Bank raised its stake in shares of Veeva Systems by 39.1% during the third quarter. Toronto Dominion Bank now owns 20,180 shares of the technology company's stock valued at $4,235,000 after acquiring an additional 5,673 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Veeva Systems by 138.9% during the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company's stock valued at $457,366,000 after acquiring an additional 1,267,061 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in shares of Veeva Systems by 3.6% during the third quarter. Oppenheimer Asset Management Inc. now owns 78,000 shares of the technology company's stock valued at $16,370,000 after acquiring an additional 2,733 shares in the last quarter. Finally, Assetmark Inc. raised its stake in Veeva Systems by 46.4% in the third quarter. Assetmark Inc. now owns 48,205 shares of the technology company's stock worth $10,117,000 after buying an additional 15,289 shares in the last quarter. Institutional investors own 88.20% of the company's stock.

Insider Activity

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of the company's stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total value of $390,128.20. Following 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 10.50% of the company's stock.

Veeva Systems Stock Down 0.2 %

Shares of VEEV traded down $0.46 during trading hours on Thursday, reaching $228.73. 884,439 shares of the company traded hands, compared to its average volume of 982,107. The stock has a market capitalization of $37.13 billion, a P/E ratio of 56.48, a P/E/G ratio of 1.92 and a beta of 0.85. Veeva Systems Inc. has a 12-month low of $170.25 and a 12-month high of $258.93. The business has a fifty day moving average price of $223.89 and a 200-day moving average price of $217.03.

Wall Street Analyst Weigh In

VEEV has been the subject of a number of recent research reports. Piper Sandler boosted their price objective on shares of Veeva Systems from $280.00 to $290.00 and gave the stock an "overweight" rating in a research note on Friday, December 6th. Royal Bank of Canada boosted their price objective on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an "outperform" rating in a research note on Friday, December 6th. StockNews.com raised shares of Veeva Systems from a "hold" rating to a "buy" rating in a research note on Monday. JPMorgan Chase & Co. boosted their price objective on shares of Veeva Systems from $208.00 to $218.00 and gave the stock a "neutral" rating in a research note on Monday, December 16th. Finally, Truist Financial reduced their price objective on shares of Veeva Systems from $261.00 to $210.00 and set a "hold" rating for the company in a research note on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $253.96.

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.