Azimuth Capital Investment Management LLC Boosts Holdings in Veeva Systems Inc. (NYSE:VEEV)

Azimuth Capital Investment Management LLC lifted its stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 28.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 44,644 shares of the technology company's stock after purchasing an additional 9,914 shares during the period. Azimuth Capital Investment Management LLC's holdings in Veeva Systems were worth $9,386,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Faithward Advisors LLC lifted its holdings in Veeva Systems by 2.0% during the fourth quarter. Faithward Advisors LLC now owns 19,349 shares of the technology company's stock worth $4,068,000 after acquiring an additional 372 shares in the last quarter. APG Asset Management N.V. grew its position in shares of Veeva Systems by 483.4% in the 4th quarter. APG Asset Management N.V. now owns 90,382 shares of the technology company's stock valued at $18,351,000 after purchasing an additional 74,891 shares during the period. Advisory Services Network LLC increased its stake in Veeva Systems by 30.4% during the 4th quarter. Advisory Services Network LLC now owns 4,673 shares of the technology company's stock worth $982,000 after purchasing an additional 1,090 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Veeva Systems by 154.0% during the 4th quarter. Renaissance Technologies LLC now owns 201,200 shares of the technology company's stock worth $42,302,000 after buying an additional 122,000 shares during the period. Finally, FIL Ltd increased its position in shares of Veeva Systems by 3.9% during the fourth quarter. FIL Ltd now owns 170,465 shares of the technology company's stock worth $35,840,000 after acquiring an additional 6,424 shares in the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

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Insider Activity

In other Veeva Systems news, Director Timothy S. Cabral sold 3,882 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $216.83, for a total transaction of $841,734.06. Following the sale, the director now owns 5,500 shares in the company, valued at approximately $1,192,565. This trade represents a 41.38 % decrease in their position. 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 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 approximately $1,960,701.60. This trade represents a 8.32 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 10.50% of the company's stock.

Veeva Systems Trading Up 1.6 %

NYSE:VEEV traded up $3.58 during trading hours on Monday, reaching $221.58. 253,353 shares of the company traded hands, compared to its average volume of 1,065,167. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93. The stock has a market capitalization of $36.05 billion, a P/E ratio of 54.71, a P/E/G ratio of 1.89 and a beta of 1.05. The business's 50-day moving average price is $229.08 and its two-hundred day moving average price is $223.18.

Wall Street Analysts Forecast Growth

VEEV has been the subject of a number of research reports. JPMorgan Chase & Co. increased their target price on Veeva Systems from $218.00 to $249.00 and gave the stock a "neutral" rating in a report on Thursday, March 20th. Stephens reaffirmed an "overweight" rating and issued a $280.00 price objective on shares of Veeva Systems in a research report on Thursday, March 6th. KeyCorp cut their price objective 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 raised their price target on shares of Veeva Systems from $283.00 to $285.00 and gave the stock an "outperform" rating in a research report on Thursday, March 6th. Finally, Morgan Stanley upped their target price on Veeva Systems from $195.00 to $201.00 and gave the company an "underweight" rating in a research report on Thursday, March 6th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus 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.