Dnca Finance Grows Stake in Veeva Systems Inc. (NYSE:VEEV)

Dnca Finance boosted its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 120.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 35,300 shares of the technology company's stock after purchasing an additional 19,300 shares during the period. Dnca Finance's holdings in Veeva Systems were worth $7,422,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Principal Financial Group Inc. grew its holdings in Veeva Systems by 138.9% during the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company's stock valued at $457,366,000 after purchasing an additional 1,267,061 shares during the period. Smith Group Asset Management LLC increased its holdings 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 acquiring an additional 1,749 shares in the last quarter. Everence Capital Management Inc. purchased a new position in Veeva Systems during the fourth quarter valued at approximately $816,000. Venturi Wealth Management LLC increased its stake in shares of Veeva Systems by 2,716.7% in the fourth quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company's stock worth $36,000 after purchasing an additional 163 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in shares of Veeva Systems by 21.6% during the 4th quarter. Nordea Investment Management AB now owns 261,131 shares of the technology company's stock valued at $55,073,000 after purchasing an additional 46,440 shares during the period. Hedge funds and other institutional investors own 88.20% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on VEEV. Scotiabank boosted their price objective on Veeva Systems from $240.00 to $245.00 and gave the company a "sector perform" rating in a research report on Thursday, March 6th. The Goldman Sachs Group cut Veeva Systems from a "buy" rating to a "sell" rating and lowered their price target for the stock from $261.00 to $200.00 in a report on Thursday, January 23rd. StockNews.com raised shares of Veeva Systems from a "hold" rating to a "buy" rating in a report on Monday, February 17th. JPMorgan Chase & Co. lifted their price objective on shares of Veeva Systems from $218.00 to $249.00 and gave the company a "neutral" rating in a research report on Thursday, March 20th. Finally, Piper Sandler dropped their target price on shares of Veeva Systems from $290.00 to $255.00 and set an "overweight" rating for the company in a research report on Wednesday. Two equities research 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. According to data from MarketBeat, Veeva Systems has a consensus rating of "Moderate Buy" and a consensus price target of $254.92.

Veeva Systems Stock Up 2.2 %

VEEV traded up $4.69 on Wednesday, reaching $220.47. 1,117,307 shares of the company traded hands, compared to its average volume of 1,070,485. The company has a market cap of $35.87 billion, a P/E ratio of 54.44, a price-to-earnings-growth ratio of 1.89 and a beta of 1.05. The firm has a fifty day simple moving average of $226.48 and a two-hundred day simple moving average of $223.57. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93.

Insider Activity at Veeva Systems

In other Veeva Systems news, Director Timothy S. Cabral sold 3,882 shares of the stock in a transaction on Friday, April 4th. The stock was 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 of the company's stock, valued at approximately $1,192,565. This trade represents a 41.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 value of $178,019.40. Following the completion of the transaction, the senior vice president now owns 8,668 shares in the company, 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. Over the last quarter, insiders sold 5,869 shares of company stock worth $1,284,917. Company insiders own 10.50% of the company's stock.

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.