CANADA LIFE ASSURANCE Co Increases Holdings in Veeva Systems Inc. (NYSE:VEEV)

CANADA LIFE ASSURANCE Co grew its stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 2.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 148,716 shares of the technology company's stock after acquiring an additional 4,199 shares during the quarter. CANADA LIFE ASSURANCE Co owned about 0.09% of Veeva Systems worth $31,245,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

VEEV has been the subject of several analyst reports. StockNews.com upgraded Veeva Systems from a "hold" rating to a "buy" rating in a research note on Monday, February 17th. Piper Sandler cut their price objective on Veeva Systems from $290.00 to $255.00 and set an "overweight" rating for the company in a research note on Wednesday. Truist Financial raised their price target on Veeva Systems from $210.00 to $217.00 and gave the company a "hold" rating in a report on Thursday, March 6th. Needham & Company LLC reaffirmed a "buy" rating and issued a $270.00 target price on shares of Veeva Systems in a report on Thursday, March 6th. Finally, Scotiabank lifted their price objective on Veeva Systems from $240.00 to $245.00 and gave the stock a "sector perform" rating in a research note 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's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $254.92.

Veeva Systems Stock Up 2.2 %

Shares of NYSE VEEV traded up $4.69 during midday trading on Wednesday, reaching $220.47. 1,110,462 shares of the company's stock traded hands, compared to its average volume of 1,070,458. The company has a market cap of $35.87 billion, a price-to-earnings ratio of 54.44, a P/E/G ratio of 1.89 and a beta of 1.05. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93. The stock's 50 day simple moving average is $226.48 and its 200-day simple moving average is $223.57.

Insiders Place Their Bets

In other Veeva Systems news, Director Timothy S. Cabral sold 3,882 shares of Veeva Systems stock in a transaction on Friday, April 4th. The shares were sold at an average price of $216.83, for a total value of $841,734.06. Following the transaction, the director now directly owns 5,500 shares of the company's stock, valued at approximately $1,192,565. The trade was a 41.38 % 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 the SEC website. Also, SVP Jonathan Faddis sold 787 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total value of $178,019.40. Following the sale, the senior vice president now owns 8,668 shares of the company's stock, valued at approximately $1,960,701.60. This represents a 8.32 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,869 shares of company stock worth $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.