LPL Financial LLC lifted its stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 13.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 131,341 shares of the technology company's stock after purchasing an additional 15,727 shares during the period. LPL Financial LLC owned 0.08% of Veeva Systems worth $27,614,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of VEEV. State Street Corp boosted its position in shares of Veeva Systems by 1.5% in the third quarter. State Street Corp now owns 3,293,141 shares of the technology company's stock worth $691,132,000 after purchasing an additional 47,872 shares during the period. Principal Financial Group Inc. lifted its position in shares of Veeva Systems by 36.0% in the fourth quarter. Principal Financial Group Inc. now owns 2,964,025 shares of the technology company's stock valued at $623,186,000 after acquiring an additional 784,741 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Veeva Systems by 5.7% in the third quarter. Geode Capital Management LLC now owns 2,765,236 shares of the technology company's stock valued at $579,630,000 after acquiring an additional 149,807 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Veeva Systems by 73.2% during the third quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company's stock worth $536,972,000 after purchasing an additional 1,081,501 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in Veeva Systems by 6.8% during the 4th quarter. Van ECK Associates Corp now owns 2,130,498 shares of the technology company's stock valued at $447,937,000 after purchasing an additional 135,492 shares during the period. 88.20% of the stock is owned by institutional investors.
Insider Buying and Selling at Veeva Systems
In related news, SVP Jonathan Faddis sold 787 shares of the firm's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total value of $178,019.40. Following the completion of the transaction, the senior vice president now owns 8,668 shares in the company, valued at $1,960,701.60. This trade represents a 8.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 10.50% of the stock is currently owned by company insiders.
Veeva Systems Price Performance
NYSE VEEV traded down $9.04 on Thursday, hitting $217.50. The stock had a trading volume of 370,281 shares, compared to its average volume of 1,167,601. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93. The business's fifty day moving average price is $231.96 and its 200 day moving average price is $223.04. The stock has a market cap of $35.39 billion, a price-to-earnings ratio of 53.70, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on VEEV shares. Evercore ISI lifted their price objective on shares of Veeva Systems from $220.00 to $245.00 and gave the company an "in-line" rating in a research report on Friday, December 6th. Stephens restated an "overweight" rating and set a $280.00 price objective on shares of Veeva Systems in a research report on Thursday, March 6th. Robert W. Baird boosted their target price on Veeva Systems from $283.00 to $285.00 and gave the stock an "outperform" rating in a research report on Thursday, March 6th. KeyCorp cut their price target on Veeva Systems from $285.00 to $255.00 and set an "overweight" rating for the company in a report on Wednesday, January 8th. Finally, Morgan Stanley upped their price objective on Veeva Systems from $195.00 to $201.00 and gave the stock an "underweight" rating in a report on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $256.52.
Check Out Our Latest 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.
Featured Articles
Before you consider Veeva Systems, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Veeva Systems wasn't on the list.
While Veeva Systems currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Options trading isn’t just for the Wall Street elite; it’s an accessible strategy for anyone armed with the proper knowledge. Think of options as a strategic toolkit, with each tool designed for a specific financial task. Get this report to learn how options trading can help you use the market’s volatility to your advantage.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
