Shaker Investments LLC OH Takes $2 Million Position in Veeva Systems Inc. (NYSE:VEEV)

Shaker Investments LLC OH bought a new position in Veeva Systems Inc. (NYSE:VEEV - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 9,518 shares of the technology company's stock, valued at approximately $2,001,000.

Other large investors have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its position in shares of Veeva Systems by 64.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company's stock valued at $744,084,000 after purchasing an additional 1,392,256 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Veeva Systems by 138.9% in the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company's stock valued at $457,366,000 after buying an additional 1,267,061 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Veeva Systems by 73.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company's stock valued at $536,972,000 after buying an additional 1,081,501 shares during the last quarter. FMR LLC increased its position in Veeva Systems by 25.7% in the 3rd quarter. FMR LLC now owns 2,981,244 shares of the technology company's stock worth $625,674,000 after buying an additional 610,021 shares during the period. Finally, Seilern Investment Management Ltd acquired a new position in shares of Veeva Systems during the fourth quarter worth approximately $94,957,000. Institutional investors own 88.20% of the company's stock.

Veeva Systems Stock Down 0.1 %

NYSE VEEV traded down $0.26 during trading hours on Friday, hitting $233.89. The company's stock had a trading volume of 526,458 shares, compared to its average volume of 971,825. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93. The firm has a market capitalization of $37.97 billion, a P/E ratio of 57.89, a PEG ratio of 1.97 and a beta of 0.85. The stock has a fifty day moving average of $224.80 and a 200 day moving average of $215.67.

Analyst Ratings Changes

A number of equities analysts recently issued reports on VEEV shares. Barclays boosted their target price on shares of Veeva Systems from $260.00 to $275.00 and gave the stock an "overweight" rating in a research report on Friday, December 6th. Needham & Company LLC reaffirmed a "buy" rating and set a $270.00 price objective on shares of Veeva Systems in a research report on Friday, January 17th. Evercore ISI increased their target price on shares of Veeva Systems from $220.00 to $245.00 and gave the company an "in-line" rating in a research note on Friday, December 6th. Truist Financial lowered their price target on Veeva Systems from $261.00 to $210.00 and set a "hold" rating on the stock in a research note on Monday, January 13th. Finally, Scotiabank raised their price objective on Veeva Systems from $235.00 to $240.00 and gave the stock a "sector perform" rating in a research report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $253.96.

Insider Buying and Selling at Veeva Systems

In related news, SVP Jonathan Faddis sold 1,694 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total value of $390,128.20. Following the sale, the senior vice president now directly owns 8,061 shares in the company, valued at $1,856,448.30. This trade represents a 17.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 10.50% of the company's stock.

Veeva Systems Company 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.