Veeva Systems Inc. (NYSE:VEEV) Shares Purchased by Himension Capital Singapore PTE. LTD.

Himension Capital Singapore PTE. LTD. boosted its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 28.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,281 shares of the technology company's stock after acquiring an additional 3,864 shares during the period. Veeva Systems comprises 0.3% of Himension Capital Singapore PTE. LTD.'s portfolio, making the stock its 29th largest holding. Himension Capital Singapore PTE. LTD.'s holdings in Veeva Systems were worth $3,633,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its position in shares of Veeva Systems by 138.9% during the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company's stock worth $457,366,000 after purchasing an additional 1,267,061 shares during the last quarter. Captrust Financial Advisors raised its holdings in shares of Veeva Systems by 10.5% in the third quarter. Captrust Financial Advisors now owns 7,865 shares of the technology company's stock worth $1,651,000 after acquiring an additional 745 shares during the last quarter. Hilltop Holdings Inc. purchased a new stake in shares of Veeva Systems in the third quarter valued at $340,000. Janus Henderson Group PLC lifted its position in shares of Veeva Systems by 34.4% in the third quarter. Janus Henderson Group PLC now owns 13,824 shares of the technology company's stock valued at $2,901,000 after acquiring an additional 3,538 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in Veeva Systems during the 3rd quarter worth about $1,386,000. Institutional investors and hedge funds own 88.20% of the company's stock.

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Veeva Systems Stock Performance

Shares of VEEV stock traded up $3.16 during mid-day trading on Friday, reaching $213.80. 418,315 shares of the company were exchanged, compared to its average volume of 1,062,108. The business's 50 day simple moving average is $229.38 and its 200 day simple moving average is $223.00. The company has a market capitalization of $34.79 billion, a P/E ratio of 52.81, a P/E/G ratio of 1.89 and a beta of 1.05. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93.

Analysts Set New Price Targets

A number of research firms have recently weighed in on VEEV. StockNews.com raised shares of Veeva Systems from a "hold" rating to a "buy" rating in a research report on Monday, February 17th. Stephens reiterated an "overweight" rating and issued a $280.00 price target on shares of Veeva Systems in a report on Thursday, March 6th. KeyCorp decreased their price objective on Veeva Systems from $285.00 to $255.00 and set an "overweight" rating on the stock in a report on Wednesday, January 8th. Truist Financial upped their target price on Veeva Systems from $210.00 to $217.00 and gave the company a "hold" rating in a research note on Thursday, March 6th. Finally, JPMorgan Chase & Co. raised their price target on Veeva Systems from $218.00 to $249.00 and gave the stock a "neutral" rating in a research note on Thursday, March 20th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, Veeva Systems has a consensus rating of "Moderate Buy" and an average target price of $256.52.

Insider Activity

In other Veeva Systems news, Director Timothy S. Cabral sold 3,882 shares of the firm's 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 transaction, the director now owns 5,500 shares of the company's stock, valued at $1,192,565. This trade represents a 41.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Jonathan Faddis sold 787 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total value of $178,019.40. Following the transaction, the senior vice president now directly owns 8,668 shares of the company's stock, valued at $1,960,701.60. This trade represents a 8.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 10.50% of the company's stock.

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.