E. Ohman J or Asset Management AB Purchases 9,800 Shares of Veeva Systems Inc. (NYSE:VEEV)

E. Ohman J or Asset Management AB boosted its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 5.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 185,987 shares of the technology company's stock after buying an additional 9,800 shares during the quarter. Veeva Systems makes up approximately 0.9% of E. Ohman J or Asset Management AB's investment portfolio, making the stock its 28th largest position. E. Ohman J or Asset Management AB owned approximately 0.11% of Veeva Systems worth $39,104,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Patriot Financial Group Insurance Agency LLC raised its holdings in Veeva Systems by 0.7% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 6,924 shares of the technology company's stock valued at $1,453,000 after acquiring an additional 48 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its holdings in Veeva Systems by 1.2% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,307 shares of the technology company's stock valued at $904,000 after buying an additional 50 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Veeva Systems by 72.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company's stock worth $25,000 after buying an additional 50 shares in the last quarter. CHICAGO TRUST Co NA boosted its position in shares of Veeva Systems by 2.9% in the fourth quarter. CHICAGO TRUST Co NA now owns 1,880 shares of the technology company's stock valued at $395,000 after acquiring an additional 53 shares during the period. Finally, Arkadios Wealth Advisors grew its stake in shares of Veeva Systems by 1.9% in the fourth quarter. Arkadios Wealth Advisors now owns 3,112 shares of the technology company's stock valued at $654,000 after acquiring an additional 58 shares in the last quarter. Institutional investors own 88.20% of the company's stock.

Veeva Systems Stock Down 0.9 %

VEEV traded down $2.27 during midday trading on Friday, hitting $237.16. 620,091 shares of the company were exchanged, compared to its average volume of 1,018,972. The firm's 50 day moving average price is $224.30 and its 200-day moving average price is $214.01. Veeva Systems Inc. has a 1-year low of $170.25 and a 1-year high of $258.93. The firm has a market capitalization of $38.50 billion, a P/E ratio of 58.56, a P/E/G ratio of 2.05 and a beta of 0.85.

Insider Activity at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of Veeva Systems stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total value of $390,128.20. Following the completion of the sale, the senior vice president now directly owns 8,061 shares in the company, valued at approximately $1,856,448.30. The trade was a 17.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 10.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on VEEV shares. Piper Sandler increased their target price on shares of Veeva Systems from $280.00 to $290.00 and gave the stock an "overweight" rating in a research report on Friday, December 6th. JPMorgan Chase & Co. increased their price target on Veeva Systems from $208.00 to $218.00 and gave the stock a "neutral" rating in a research report on Monday, December 16th. Barclays lifted their price objective on Veeva Systems from $260.00 to $275.00 and gave the company an "overweight" rating in a report on Friday, December 6th. Citigroup increased their target price on Veeva Systems from $281.00 to $307.00 and gave the stock a "buy" rating in a report on Monday, December 9th. Finally, Truist Financial dropped their price target on Veeva Systems from $261.00 to $210.00 and set a "hold" rating for the company in a research note on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $253.96.

About Veeva Systems

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.