Ontario Teachers Pension Plan Board Has $1.93 Million Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Ontario Teachers Pension Plan Board lifted its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 148.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,162 shares of the technology company's stock after purchasing an additional 5,470 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Veeva Systems were worth $1,926,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in VEEV. MassMutual Private Wealth & Trust FSB increased its position in Veeva Systems by 72.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company's stock valued at $25,000 after acquiring an additional 50 shares during the period. Centricity Wealth Management LLC bought a new stake in shares of Veeva Systems in the 4th quarter valued at $25,000. Smithfield Trust Co boosted its stake in Veeva Systems by 145.5% during the fourth quarter. Smithfield Trust Co now owns 135 shares of the technology company's stock worth $27,000 after acquiring an additional 80 shares in the last quarter. Retirement Wealth Solutions LLC bought a new position in shares of Veeva Systems in the 4th quarter worth $31,000. Finally, Avion Wealth lifted its position in shares of Veeva Systems by 635.0% during the fourth quarter. Avion Wealth now owns 147 shares of the technology company's stock valued at $30,000 after purchasing an additional 127 shares in the last quarter. 88.20% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Veeva Systems news, SVP Jonathan Faddis sold 787 shares of the business'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 directly owns 8,668 shares in the company, valued at approximately $1,960,701.60. The trade was a 8.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Timothy S. Cabral sold 3,882 shares of Veeva Systems stock in a transaction on 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 sale, the director now directly 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. In the last ninety days, insiders have sold 5,869 shares of company stock worth $1,284,917. Corporate insiders own 10.50% of the company's stock.

Veeva Systems Trading Down 2.2 %

Shares of VEEV traded down $4.93 during mid-day trading on Friday, hitting $215.73. The company's stock had a trading volume of 1,195,499 shares, compared to its average volume of 1,064,779. The firm has a 50-day simple moving average of $227.31 and a 200 day simple moving average of $223.35. The firm has a market capitalization of $35.10 billion, a P/E ratio of 53.27, a P/E/G ratio of 1.89 and a beta of 1.05. Veeva Systems Inc. has a 1-year low of $170.25 and a 1-year high of $258.93.

Analyst Ratings Changes

A number of equities analysts have recently commented on VEEV shares. The Goldman Sachs Group lowered Veeva Systems from a "buy" rating to a "sell" rating and cut their price target for the stock from $261.00 to $200.00 in a report on Thursday, January 23rd. Morgan Stanley upped their price objective on shares of Veeva Systems from $195.00 to $201.00 and gave the stock an "underweight" rating in a report on Thursday, March 6th. Scotiabank upped their target price on shares of Veeva Systems from $240.00 to $245.00 and gave the company a "sector perform" rating in a research note on Thursday, March 6th. Truist Financial upped their price objective on Veeva Systems from $210.00 to $217.00 and gave the company a "hold" rating in a research report on Thursday, March 6th. Finally, JPMorgan Chase & Co. increased their price target on shares of Veeva Systems from $218.00 to $249.00 and gave the stock a "neutral" rating in a research report on Thursday, March 20th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $256.32.

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.