Fiera Capital Corp increased its stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 11.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 357,767 shares of the technology company's stock after purchasing an additional 38,037 shares during the quarter. Fiera Capital Corp owned approximately 0.22% of Veeva Systems worth $75,221,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA grew its holdings in Veeva Systems by 64.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company's stock valued at $744,084,000 after buying an additional 1,392,256 shares during the period. State Street Corp grew its holdings in Veeva Systems by 1.5% in the 3rd quarter. State Street Corp now owns 3,293,141 shares of the technology company's stock valued at $691,132,000 after buying an additional 47,872 shares during the period. FMR LLC grew its holdings in Veeva Systems by 25.7% in the 3rd quarter. FMR LLC now owns 2,981,244 shares of the technology company's stock valued at $625,674,000 after buying an additional 610,021 shares during the period. Geode Capital Management LLC grew its holdings in Veeva Systems by 5.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,765,236 shares of the technology company's stock valued at $579,630,000 after buying an additional 149,807 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in Veeva Systems by 73.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company's stock valued at $536,972,000 after buying an additional 1,081,501 shares during the period. Hedge funds and other institutional investors own 88.20% of the company's stock.
Analyst Ratings Changes
Several analysts have commented on VEEV shares. The Goldman Sachs Group cut Veeva Systems from a "buy" rating to a "sell" rating and lowered their price target for the company from $261.00 to $200.00 in a report on Thursday, January 23rd. Robert W. Baird lifted their price target on Veeva Systems from $275.00 to $283.00 and gave the company an "outperform" rating in a report on Friday, December 6th. Needham & Company LLC reiterated a "buy" rating and set a $270.00 target price on shares of Veeva Systems in a report on Friday, January 17th. Mizuho initiated coverage on Veeva Systems in a report on Wednesday, December 4th. They set an "outperform" rating and a $275.00 target price for the company. Finally, Piper Sandler boosted their target price on Veeva Systems from $280.00 to $290.00 and gave the stock an "overweight" rating in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $253.96.
Check Out Our Latest Stock Report on VEEV
Veeva Systems Stock Down 0.0 %
Shares of VEEV traded down $0.06 during trading on Friday, reaching $234.09. The company's stock had a trading volume of 853,426 shares, compared to its average volume of 1,002,875. The company has a fifty day moving average of $224.48 and a two-hundred day moving average of $216.12. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93. The company has a market cap of $38.00 billion, a price-to-earnings ratio of 57.80, a P/E/G ratio of 1.97 and a beta of 0.85.
Insider Buying and Selling at Veeva Systems
In related news, SVP Jonathan Faddis sold 1,694 shares of the company's stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total transaction of $390,128.20. Following the completion of the transaction, the senior vice president now directly owns 8,061 shares in the company, valued at $1,856,448.30. This represents a 17.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 10.50% of the stock is currently owned by corporate insiders.
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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