Veeva Systems Inc. (NYSE:VEEV) Shares Bought by Fmr LLC

FMR LLC grew its position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 7.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 3,213,360 shares of the technology company's stock after acquiring an additional 232,116 shares during the quarter. FMR LLC owned about 1.98% of Veeva Systems worth $675,609,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Federated Hermes Inc. increased its position in shares of Veeva Systems by 16.4% during the 4th quarter. Federated Hermes Inc. now owns 366,490 shares of the technology company's stock valued at $77,055,000 after purchasing an additional 51,692 shares during the last quarter. Peapack Gladstone Financial Corp increased its position in Veeva Systems by 0.6% during the fourth quarter. Peapack Gladstone Financial Corp now owns 70,547 shares of the technology company's stock valued at $14,833,000 after acquiring an additional 400 shares during the last quarter. Himension Capital Singapore PTE. LTD. raised its stake in shares of Veeva Systems by 28.8% in the fourth quarter. Himension Capital Singapore PTE. LTD. now owns 17,281 shares of the technology company's stock valued at $3,633,000 after acquiring an additional 3,864 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Veeva Systems by 32.1% in the fourth quarter. Russell Investments Group Ltd. now owns 201,252 shares of the technology company's stock valued at $42,358,000 after acquiring an additional 48,915 shares during the period. Finally, Aviva PLC boosted its stake in shares of Veeva Systems by 485.3% during the 4th quarter. Aviva PLC now owns 95,190 shares of the technology company's stock worth $20,014,000 after purchasing an additional 78,927 shares during the period. Institutional investors own 88.20% of the company's stock.

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Veeva Systems Stock Up 2.2 %

Shares of NYSE:VEEV traded up $4.77 during midday trading on Monday, reaching $222.77. The company's stock had a trading volume of 181,557 shares, compared to its average volume of 1,064,922. The firm has a market capitalization of $36.24 billion, a PE ratio of 55.00, a P/E/G ratio of 1.89 and a beta of 1.05. The stock has a fifty day moving average of $229.08 and a 200 day moving average of $223.18. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on VEEV shares. 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 report on Wednesday, January 8th. 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. Robert W. Baird upped their price objective on Veeva Systems from $283.00 to $285.00 and gave the company an "outperform" rating in a research report on Thursday, March 6th. Scotiabank increased their target price on Veeva Systems from $240.00 to $245.00 and gave the stock a "sector perform" rating in a research note on Thursday, March 6th. Finally, JPMorgan Chase & Co. upped their price target on shares of Veeva Systems from $218.00 to $249.00 and gave the stock a "neutral" rating in a report on Thursday, March 20th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $256.52.

Insiders Place Their Bets

In related news, SVP Jonathan Faddis sold 787 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total transaction of $178,019.40. Following the sale, the senior vice president now directly owns 8,668 shares of the company's stock, valued at approximately $1,960,701.60. This represents a 8.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Timothy S. Cabral sold 3,882 shares of Veeva Systems stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $216.83, for a total value of $841,734.06. Following the completion of the transaction, the director now owns 5,500 shares of the company's stock, valued at approximately $1,192,565. This represents a 41.38 % decrease in their position. The disclosure for this sale can be found here. 10.50% of the stock is owned by insiders.

Veeva Systems 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.