Price T Rowe Associates Inc. MD Acquires 4,541 Shares of Veeva Systems Inc. (NYSE:VEEV)

Price T Rowe Associates Inc. MD grew its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 0.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,302,672 shares of the technology company's stock after purchasing an additional 4,541 shares during the period. Price T Rowe Associates Inc. MD owned approximately 2.03% of Veeva Systems worth $694,388,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. boosted its holdings in shares of Veeva Systems by 138.9% in the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company's stock worth $457,366,000 after buying an additional 1,267,061 shares during the period. Barclays PLC boosted its stake in Veeva Systems by 18.2% in the 3rd quarter. Barclays PLC now owns 185,206 shares of the technology company's stock worth $38,870,000 after purchasing an additional 28,497 shares during the period. Tudor Financial Inc. purchased a new position in Veeva Systems during the 3rd quarter worth approximately $265,000. World Investment Advisors LLC acquired a new stake in Veeva Systems during the 3rd quarter valued at $2,131,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Veeva Systems in the third quarter valued at $168,000. 88.20% of the stock is currently owned by institutional investors.

Veeva Systems Price Performance

Shares of NYSE VEEV traded down $1.92 during mid-day trading on Monday, hitting $225.62. The company had a trading volume of 1,122,036 shares, compared to its average volume of 1,073,585. Veeva Systems Inc. has a 12 month low of $170.25 and a 12 month high of $258.93. The firm has a market cap of $36.71 billion, a P/E ratio of 55.71, a PEG ratio of 1.89 and a beta of 1.05. The business's 50-day simple moving average is $225.97 and its 200-day simple moving average is $224.10.

Insider Transactions at Veeva Systems

In related news, SVP Jonathan Faddis sold 787 shares of the stock in a transaction dated 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 transaction, the senior vice president now 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Thomas D. Schwenger sold 1,200 shares of Veeva Systems stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $220.97, for a total value of $265,164.00. Following the sale, the insider now directly owns 25,889 shares in the company, valued at $5,720,692.33. The trade was a 4.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,869 shares of company stock valued at $1,284,917. 10.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on VEEV. Piper Sandler lowered their price target on Veeva Systems from $290.00 to $255.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. The Goldman Sachs Group downgraded Veeva Systems from a "buy" rating to a "sell" rating and dropped their target price for the company from $261.00 to $200.00 in a report on Thursday, January 23rd. Stephens restated an "overweight" rating and set a $280.00 price target on shares of Veeva Systems in a report on Thursday, March 6th. Morgan Stanley upped their price objective on shares of Veeva Systems from $195.00 to $201.00 and gave the company an "underweight" rating in a research note on Thursday, March 6th. Finally, StockNews.com upgraded shares of Veeva Systems from a "hold" rating to a "buy" rating in a research report on Monday, February 17th. Two equities research 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 data from MarketBeat.com, Veeva Systems currently has a consensus rating of "Moderate Buy" and a consensus target price of $254.92.

Veeva Systems 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.