168,389 Shares in Veeva Systems Inc. (NYSE:VEEV) Purchased by Aware Super Pty Ltd as trustee of Aware Super

Aware Super Pty Ltd as trustee of Aware Super bought a new stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 168,389 shares of the technology company's stock, valued at approximately $35,404,000. Aware Super Pty Ltd as trustee of Aware Super owned 0.10% of Veeva Systems at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. FMR LLC raised its holdings in shares of Veeva Systems by 7.8% during the 4th quarter. FMR LLC now owns 3,213,360 shares of the technology company's stock valued at $675,609,000 after purchasing an additional 232,116 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Veeva Systems by 17.5% during the 4th quarter. JPMorgan Chase & Co. now owns 3,005,633 shares of the technology company's stock worth $631,935,000 after acquiring an additional 447,041 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Veeva Systems by 36.0% during the 4th quarter. Principal Financial Group Inc. now owns 2,964,025 shares of the technology company's stock valued at $623,186,000 after acquiring an additional 784,741 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Veeva Systems by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 2,803,344 shares of the technology company's stock valued at $589,208,000 after acquiring an additional 38,108 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in Veeva Systems by 6.8% in the 4th quarter. Van ECK Associates Corp now owns 2,130,498 shares of the technology company's stock worth $447,937,000 after purchasing an additional 135,492 shares during the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems Trading Down 2.2 %

VEEV stock traded down $4.93 on Friday, hitting $215.73. The company had a trading volume of 1,195,499 shares, compared to its average volume of 1,063,925. The stock has a market cap of $35.10 billion, a price-to-earnings ratio of 53.27, a P/E/G ratio of 1.89 and a beta of 1.05. Veeva Systems Inc. has a 12-month low of $170.25 and a 12-month high of $258.93. The stock's 50-day simple moving average is $227.68 and its 200 day simple moving average is $223.29.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. lifted their price objective on Veeva Systems from $218.00 to $249.00 and gave the stock a "neutral" rating in a research note on Thursday, March 20th. Truist Financial increased their price objective on Veeva Systems from $210.00 to $217.00 and gave the company a "hold" rating in a research report on Thursday, March 6th. Needham & Company LLC reiterated a "buy" rating and set a $270.00 target price on shares of Veeva Systems in a research note on Thursday, March 6th. Scotiabank raised their price target on shares of Veeva Systems from $240.00 to $245.00 and gave the stock a "sector perform" rating in a research report on Thursday, March 6th. Finally, The Goldman Sachs Group downgraded Veeva Systems from a "buy" rating to a "sell" rating and reduced their price objective for the stock from $261.00 to $200.00 in a research report on Thursday, January 23rd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $256.32.

Insider Buying and Selling

In other Veeva Systems news, SVP Jonathan Faddis sold 787 shares of the business's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total transaction of $178,019.40. Following the transaction, the senior vice president now owns 8,668 shares in the company, valued at $1,960,701.60. The trade was a 8.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Thomas D. Schwenger sold 1,200 shares of the stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $220.97, for a total transaction of $265,164.00. Following the completion of the sale, the insider now directly owns 25,889 shares in the company, valued at $5,720,692.33. This trade represents a 4.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,869 shares of company stock valued at $1,284,917. 10.50% of the stock is owned by corporate 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.