Invesco Ltd. Has $35.55 Million Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Invesco Ltd. raised its stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 1.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 169,065 shares of the technology company's stock after buying an additional 2,377 shares during the period. Invesco Ltd. owned approximately 0.10% of Veeva Systems worth $35,546,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in VEEV. Bank of Montreal Can lifted its position in Veeva Systems by 2.8% in the fourth quarter. Bank of Montreal Can now owns 27,394 shares of the technology company's stock worth $5,760,000 after purchasing an additional 738 shares during the period. Cerity Partners LLC lifted its holdings in shares of Veeva Systems by 2.7% in the fourth quarter. Cerity Partners LLC now owns 75,222 shares of the technology company's stock valued at $15,814,000 after buying an additional 1,980 shares during the period. FMR LLC grew its holdings in Veeva Systems by 7.8% during the fourth quarter. FMR LLC now owns 3,213,360 shares of the technology company's stock worth $675,609,000 after acquiring an additional 232,116 shares during the period. Federated Hermes Inc. raised its position in Veeva Systems by 16.4% in the fourth quarter. Federated Hermes Inc. now owns 366,490 shares of the technology company's stock worth $77,055,000 after acquiring an additional 51,692 shares in the last quarter. Finally, Peapack Gladstone Financial Corp lifted its holdings in Veeva Systems by 0.6% in the 4th 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. 88.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on VEEV. Stephens reiterated an "overweight" rating and issued a $280.00 target price on shares of Veeva Systems in a report on Thursday, March 6th. Truist Financial upped their price target on Veeva Systems from $210.00 to $217.00 and gave the company a "hold" rating in a report on Thursday, March 6th. Robert W. Baird raised their price objective on Veeva Systems from $283.00 to $285.00 and gave the stock an "outperform" rating in a research note on Thursday, March 6th. Morgan Stanley boosted their target price on Veeva Systems from $195.00 to $201.00 and gave the stock an "underweight" rating in a research report on Thursday, March 6th. Finally, KeyCorp cut their price objective on Veeva Systems from $260.00 to $250.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $256.32.

Insider Buying and Selling at Veeva Systems

In other news, Director Timothy S. Cabral sold 3,882 shares of the company's stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $216.83, for a total transaction of $841,734.06. Following the completion of the transaction, the director now directly owns 5,500 shares in the company, valued at $1,192,565. The trade was a 41.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jonathan Faddis sold 787 shares of the 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 completion of the sale, the senior vice president now directly owns 8,668 shares of the company's stock, valued at $1,960,701.60. This represents a 8.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,869 shares of company stock worth $1,284,917 over the last 90 days. Insiders own 10.50% of the company's stock.

Veeva Systems Stock Performance

Shares of VEEV traded up $5.77 during trading hours on Tuesday, hitting $215.85. 1,171,894 shares of the company were exchanged, compared to its average volume of 1,070,298. The company has a market cap of $35.12 billion, a PE ratio of 53.30, a PEG ratio of 1.89 and a beta of 1.05. The firm's 50 day moving average is $226.48 and its 200-day moving average is $223.57. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93.

Veeva Systems Company 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.