Veeva Systems Inc. (NYSE:VEEV) Shares Purchased by Capital Fund Management S.A.

Capital Fund Management S.A. grew its stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 67.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 59,316 shares of the technology company's stock after buying an additional 23,805 shares during the period. Capital Fund Management S.A.'s holdings in Veeva Systems were worth $12,471,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of VEEV. Scotia Capital Inc. increased its holdings in shares of Veeva Systems by 1.3% in the 4th quarter. Scotia Capital Inc. now owns 13,919 shares of the technology company's stock valued at $2,929,000 after acquiring an additional 182 shares during the period. Bessemer Group Inc. grew its position in Veeva Systems by 27.6% during the 4th quarter. Bessemer Group Inc. now owns 2,268 shares of the technology company's stock worth $477,000 after purchasing an additional 491 shares during the last quarter. Martingale Asset Management L P increased its stake in Veeva Systems by 11.9% in the fourth quarter. Martingale Asset Management L P now owns 4,840 shares of the technology company's stock valued at $1,018,000 after purchasing an additional 515 shares during the period. Azimuth Capital Investment Management LLC raised its holdings in shares of Veeva Systems by 28.5% in the fourth quarter. Azimuth Capital Investment Management LLC now owns 44,644 shares of the technology company's stock valued at $9,386,000 after buying an additional 9,914 shares during the last quarter. Finally, Faithward Advisors LLC boosted its stake in shares of 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 buying an additional 372 shares during the period. 88.20% of the stock is owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

Several brokerages recently issued reports on VEEV. JPMorgan Chase & Co. boosted their price target on Veeva Systems from $218.00 to $249.00 and gave the company a "neutral" rating in a research report on Thursday, March 20th. Stephens reissued an "overweight" rating and issued a $280.00 target price on shares of Veeva Systems in a report on Thursday, March 6th. Scotiabank lifted their price objective on shares of Veeva Systems from $240.00 to $245.00 and gave the company a "sector perform" rating in a research report on Thursday, March 6th. Needham & Company LLC restated a "buy" rating and set a $270.00 price objective on shares of Veeva Systems in a research report on Thursday, March 6th. Finally, Robert W. Baird raised their target price on shares of Veeva Systems from $283.00 to $285.00 and gave the stock an "outperform" rating in a research note on Thursday, March 6th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $256.32.

Veeva Systems Stock Down 0.8 %

Shares of NYSE:VEEV traded down $1.71 during trading on Wednesday, reaching $221.01. The stock had a trading volume of 634,239 shares, compared to its average volume of 1,064,683. The stock has a market cap of $35.96 billion, a P/E ratio of 54.57, a PEG ratio of 1.89 and a beta of 1.05. The business has a fifty day moving average price of $228.44 and a 200-day moving average price of $223.27. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93.

Insider Buying and Selling at Veeva Systems

In related news, Director Timothy S. Cabral sold 3,882 shares of the business'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 value of $841,734.06. Following the completion of the sale, the director now directly owns 5,500 shares in the company, 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 company's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total transaction of $178,019.40. Following the transaction, the senior vice president now directly owns 8,668 shares of the company's stock, valued at $1,960,701.60. This trade represents a 8.32 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 5,869 shares of company stock worth $1,284,917. Insiders own 10.50% of the company's stock.

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.