FIL Ltd grew its stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 3.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 170,465 shares of the technology company's stock after acquiring an additional 6,424 shares during the period. FIL Ltd owned 0.10% of Veeva Systems worth $35,840,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. MassMutual Private Wealth & Trust FSB lifted its position in shares of Veeva Systems by 72.5% during the 4th 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 during the last quarter. Centricity Wealth Management LLC bought a new stake in shares of Veeva Systems during the 4th quarter valued at approximately $25,000. Smithfield Trust Co increased its position in Veeva Systems by 145.5% during the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company's stock worth $27,000 after purchasing an additional 80 shares in the last quarter. Avion Wealth lifted its stake in Veeva Systems by 635.0% in the 4th quarter. Avion Wealth now owns 147 shares of the technology company's stock valued at $30,000 after purchasing an additional 127 shares during the last quarter. Finally, Retirement Wealth Solutions LLC bought a new stake in shares of Veeva Systems during the fourth quarter worth $31,000. 88.20% of the stock is owned by institutional investors.
Veeva Systems Stock Down 0.0 %
Veeva Systems stock traded down $0.08 during trading on Wednesday, hitting $222.64. The stock had a trading volume of 148,292 shares, compared to its average volume of 1,062,795. The stock's 50 day moving average is $228.44 and its two-hundred day moving average is $223.27. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93. The stock has a market cap of $36.22 billion, a price-to-earnings ratio of 54.97, a price-to-earnings-growth ratio of 1.89 and a beta of 1.05.
Insider Activity
In other news, insider Thomas D. Schwenger sold 1,200 shares of the firm's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $220.97, for a total value of $265,164.00. Following the completion of the transaction, the insider now directly owns 25,889 shares of the company's stock, valued at $5,720,692.33. This trade represents a 4.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jonathan Faddis sold 787 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total value of $178,019.40. Following the sale, the senior vice president now directly owns 8,668 shares in the company, valued at $1,960,701.60. This trade represents a 8.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,869 shares of company stock valued at $1,284,917 in the last 90 days. Insiders own 10.50% of the company's stock.
Analyst Ratings Changes
A number of brokerages recently weighed in on VEEV. Scotiabank lifted their target price on shares of Veeva Systems from $240.00 to $245.00 and gave the stock a "sector perform" rating in a research note on Thursday, March 6th. Needham & Company LLC reissued a "buy" rating and issued a $270.00 price target on shares of Veeva Systems in a research report on Thursday, March 6th. Truist Financial upped their price objective on shares of Veeva Systems from $210.00 to $217.00 and gave the stock a "hold" rating in a report on Thursday, March 6th. 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 report on Thursday, March 20th. Finally, Morgan Stanley upped their target price on shares of Veeva Systems from $195.00 to $201.00 and gave the stock an "underweight" rating in a report on Thursday, March 6th. Two investment 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, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $256.32.
Check Out Our Latest Stock Report on Veeva Systems
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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