Veeva Systems Inc. (NYSE:VEEV) Shares Acquired by Pacer Advisors Inc.

Pacer Advisors Inc. boosted its position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 442.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,902 shares of the technology company's stock after purchasing an additional 21,128 shares during the period. Pacer Advisors Inc.'s holdings in Veeva Systems were worth $5,446,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VEEV. MassMutual Private Wealth & Trust FSB grew its stake in shares of Veeva Systems by 72.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company's stock valued at $25,000 after buying an additional 50 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC bought a new position in Veeva Systems in the 3rd quarter valued at $26,000. True Wealth Design LLC increased its stake in Veeva Systems by 3,375.0% in the third quarter. True Wealth Design LLC now owns 139 shares of the technology company's stock worth $29,000 after purchasing an additional 135 shares during the period. Retirement Wealth Solutions LLC bought a new stake in shares of Veeva Systems during the fourth quarter worth $31,000. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Veeva Systems in the third quarter worth about $49,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Veeva Systems

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.01, for a total transaction of $270,251.26. Following the transaction, the insider now directly owns 27,013 shares of the company's stock, valued at $6,483,390.13. This trade represents a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Jonathan Faddis sold 1,694 shares of the company's stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total transaction of $390,128.20. Following the transaction, the senior vice president now owns 8,061 shares of the company's stock, valued at approximately $1,856,448.30. This trade represents a 17.37 % decrease in their position. The disclosure for this sale can be found here. 10.50% of the stock is owned by company insiders.

Veeva Systems Stock Performance

NYSE VEEV traded up $5.01 during mid-day trading on Thursday, reaching $237.31. 1,464,477 shares of the stock were exchanged, compared to its average volume of 1,088,698. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93. The business's 50 day moving average is $222.75 and its 200-day moving average is $212.03. The company has a market capitalization of $38.53 billion, a P/E ratio of 58.60, a P/E/G ratio of 2.01 and a beta of 0.84.

Analysts Set New Price Targets

A number of brokerages have weighed in on VEEV. Evercore ISI lifted their target price on Veeva Systems from $220.00 to $245.00 and gave the company an "in-line" rating in a research report on Friday, December 6th. JPMorgan Chase & Co. raised their target price on shares of Veeva Systems from $208.00 to $218.00 and gave the company a "neutral" rating in a research report on Monday, December 16th. Mizuho started coverage on shares of Veeva Systems in a research report on Wednesday, December 4th. They issued an "outperform" rating and a $275.00 price target for the company. KeyCorp cut their price objective on shares of Veeva Systems from $285.00 to $255.00 and set an "overweight" rating on the stock in a report on Wednesday, January 8th. Finally, The Goldman Sachs Group lowered Veeva Systems from a "buy" rating to a "sell" rating and lowered their target price for the stock from $261.00 to $200.00 in a report on Thursday, January 23rd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Veeva Systems has a consensus rating of "Moderate Buy" and a consensus target price of $253.96.

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.