7,164 Shares in Veeva Systems Inc. (NYSE:VEEV) Bought by Dark Forest Capital Management LP

Dark Forest Capital Management LP acquired a new position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 7,164 shares of the technology company's stock, valued at approximately $1,506,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its holdings in shares of Veeva Systems by 138.9% in the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company's stock worth $457,366,000 after acquiring an additional 1,267,061 shares during the last quarter. Smith Group Asset Management LLC raised its position in Veeva Systems by 2.2% in the 4th quarter. Smith Group Asset Management LLC now owns 82,567 shares of the technology company's stock worth $17,360,000 after purchasing an additional 1,749 shares during the period. Everence Capital Management Inc. bought a new stake in Veeva Systems in the fourth quarter worth $816,000. Venturi Wealth Management LLC boosted its position in Veeva Systems by 2,716.7% during the fourth quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company's stock valued at $36,000 after buying an additional 163 shares during the period. Finally, Nordea Investment Management AB grew its stake in shares of Veeva Systems by 21.6% during the fourth quarter. Nordea Investment Management AB now owns 261,131 shares of the technology company's stock valued at $55,073,000 after buying an additional 46,440 shares during the last quarter. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

VEEV has been the subject of a number of recent research reports. Truist Financial boosted their target price on Veeva Systems from $210.00 to $217.00 and gave the company a "hold" rating in a research note on Thursday, March 6th. The Goldman Sachs Group lowered shares of Veeva Systems from a "buy" rating to a "sell" rating and cut their price target for the stock from $261.00 to $200.00 in a report on Thursday, January 23rd. StockNews.com upgraded shares of Veeva Systems from a "hold" rating to a "buy" rating in a report on Monday, February 17th. Scotiabank raised their target price 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. Finally, JPMorgan Chase & Co. upped 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. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $254.92.

Veeva Systems Trading Down 0.1 %

Veeva Systems stock traded down $0.21 during mid-day trading on Friday, hitting $227.50. The company had a trading volume of 654,852 shares, compared to its average volume of 1,072,490. Veeva Systems Inc. has a 12 month low of $170.25 and a 12 month high of $258.93. The company has a market capitalization of $37.01 billion, a PE ratio of 56.17, a price-to-earnings-growth ratio of 1.89 and a beta of 1.05. The stock's 50 day moving average price is $225.97 and its two-hundred day moving average price is $223.89.

Insider Buying and Selling

In other news, insider Thomas D. Schwenger sold 1,200 shares of the firm's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $220.97, for a total transaction of $265,164.00. Following the sale, the insider now owns 25,889 shares of the company's stock, valued at $5,720,692.33. This trade represents a 4.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Jonathan Faddis sold 787 shares of Veeva Systems 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 completion of the sale, the senior vice president now owns 8,668 shares of the company's stock, valued at $1,960,701.60. This represents a 8.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,869 shares of company stock worth $1,284,917 in the last quarter. Corporate 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.