ExodusPoint Capital Management LP lifted its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 623.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,557 shares of the technology company's stock after purchasing an additional 114,227 shares during the period. ExodusPoint Capital Management LP owned about 0.08% of Veeva Systems worth $27,870,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. World Investment Advisors raised its holdings in shares of Veeva Systems by 9.5% in the fourth quarter. World Investment Advisors now owns 11,122 shares of the technology company's stock worth $2,338,000 after acquiring an additional 967 shares during the last quarter. Bryce Point Capital LLC acquired a new position in Veeva Systems in the 4th quarter valued at about $495,000. Huntington National Bank raised its stake in Veeva Systems by 13.3% in the 4th quarter. Huntington National Bank now owns 1,766 shares of the technology company's stock valued at $371,000 after purchasing an additional 207 shares during the last quarter. Meeder Advisory Services Inc. lifted its holdings in Veeva Systems by 32.5% in the 4th quarter. Meeder Advisory Services Inc. now owns 3,439 shares of the technology company's stock valued at $723,000 after purchasing an additional 843 shares in the last quarter. Finally, Groupama Asset Managment boosted its stake in shares of Veeva Systems by 20.9% during the 4th quarter. Groupama Asset Managment now owns 2,989 shares of the technology company's stock worth $632,000 after purchasing an additional 517 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.
Veeva Systems Stock Down 0.1 %
Shares of Veeva Systems stock traded down $0.15 on Tuesday, hitting $214.59. 324,691 shares of the company's stock traded hands, compared to its average volume of 1,048,738. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93. The stock has a market cap of $34.91 billion, a P/E ratio of 53.18, a PEG ratio of 1.89 and a beta of 1.05. The firm's 50-day moving average is $231.52 and its 200 day moving average is $223.12.
Insider Activity at Veeva Systems
In other news, SVP Jonathan Faddis sold 787 shares of the business'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 value of $178,019.40. Following the completion of the sale, the senior vice president now directly owns 8,668 shares in the company, valued at approximately $1,960,701.60. The trade was a 8.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.50% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
VEEV has been the subject of a number of analyst reports. KeyCorp reduced their price objective on shares of Veeva Systems from $285.00 to $255.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 8th. Morgan Stanley increased their price target on Veeva Systems from $195.00 to $201.00 and gave the stock an "underweight" rating in a research note on Thursday, March 6th. Stephens reaffirmed an "overweight" rating and issued a $280.00 price objective on shares of Veeva Systems in a research report on Thursday, March 6th. JPMorgan Chase & Co. increased their target price on Veeva Systems from $218.00 to $249.00 and gave the stock a "neutral" rating in a research report on Thursday, March 20th. Finally, The Goldman Sachs Group lowered Veeva Systems from a "buy" rating to a "sell" rating and decreased their price target for the stock from $261.00 to $200.00 in a research note on Thursday, January 23rd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $256.52.
Check Out Our Latest Stock Report on VEEV
About Veeva Systems
(
Free Report)
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.
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