Hancock Whitney Corp Acquires 16,682 Shares of Veeva Systems Inc. (NYSE:VEEV)

Hancock Whitney Corp lifted its position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 29.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 72,806 shares of the technology company's stock after purchasing an additional 16,682 shares during the period. Hancock Whitney Corp's holdings in Veeva Systems were worth $13,324,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Linscomb & Williams Inc. bought a new stake in shares of Veeva Systems during the fourth quarter valued at approximately $1,479,000. Robeco Institutional Asset Management B.V. grew its position in shares of Veeva Systems by 32.7% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 206,220 shares of the technology company's stock worth $365,000 after buying an additional 50,868 shares during the period. APG Asset Management US Inc. bought a new position in shares of Veeva Systems in the 4th quarter worth about $5,756,000. Quantum Capital Management LLC NJ lifted its position in Veeva Systems by 9.8% during the 4th quarter. Quantum Capital Management LLC NJ now owns 329,867 shares of the technology company's stock valued at $63,506,000 after acquiring an additional 29,525 shares during the period. Finally, Eisler Capital UK Ltd. bought a new stake in Veeva Systems during the fourth quarter worth about $1,408,000. Hedge funds and other institutional investors own 88.20% of the company's stock.

Veeva Systems Stock Performance

Shares of NYSE VEEV traded up $0.49 during midday trading on Friday, hitting $214.88. 1,336,601 shares of the company's stock traded hands, compared to its average volume of 973,861. The stock has a market capitalization of $34.74 billion, a price-to-earnings ratio of 63.39, a price-to-earnings-growth ratio of 2.12 and a beta of 0.81. The firm has a fifty day moving average of $199.25 and a 200 day moving average of $201.58. Veeva Systems Inc. has a 1 year low of $162.72 and a 1 year high of $236.90.

Insider Buying and Selling at Veeva Systems

In related news, SVP Jonathan Faddis sold 2,353 shares of Veeva Systems stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total transaction of $470,600.00. Following the transaction, the senior vice president now directly owns 9,035 shares in the company, valued at $1,807,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 10.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on VEEV shares. Barclays lifted their target price on shares of Veeva Systems from $220.00 to $240.00 and gave the company an "overweight" rating in a report on Thursday, August 29th. Guggenheim boosted their target price on Veeva Systems from $211.00 to $233.00 and gave the stock a "buy" rating in a report on Thursday, July 18th. BTIG Research initiated coverage on Veeva Systems in a research note on Tuesday, July 9th. They issued a "buy" rating and a $240.00 target price on the stock. Robert W. Baird lifted their price target on Veeva Systems from $245.00 to $251.00 and gave the stock an "outperform" rating in a research report on Thursday, August 29th. Finally, Morgan Stanley dropped their price target on shares of Veeva Systems from $210.00 to $173.00 and set an "underweight" rating on the stock in a research note on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $229.96.

About Veeva Systems

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.