Veeva Systems Inc. (NYSE:VEEV) Shares Bought by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S grew its holdings in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 78.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,985 shares of the technology company's stock after acquiring an additional 3,070 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Veeva Systems were worth $1,469,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of VEEV. FMR LLC grew its holdings in Veeva Systems by 7.8% during the 4th quarter. FMR LLC now owns 3,213,360 shares of the technology company's stock worth $675,609,000 after acquiring an additional 232,116 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Veeva Systems by 17.5% during the fourth quarter. JPMorgan Chase & Co. now owns 3,005,633 shares of the technology company's stock worth $631,935,000 after purchasing an additional 447,041 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Veeva Systems by 36.0% in the fourth quarter. Principal Financial Group Inc. now owns 2,964,025 shares of the technology company's stock valued at $623,186,000 after buying an additional 784,741 shares during the last quarter. Geode Capital Management LLC increased its holdings in Veeva Systems by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 2,803,344 shares of the technology company's stock valued at $589,208,000 after buying an additional 38,108 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in Veeva Systems by 6.8% in the fourth quarter. Van ECK Associates Corp now owns 2,130,498 shares of the technology company's stock valued at $447,937,000 after buying an additional 135,492 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on VEEV. KeyCorp dropped their price objective on Veeva Systems from $260.00 to $250.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Needham & Company LLC reissued a "buy" rating and set a $270.00 price objective on shares of Veeva Systems in a report on Thursday, March 6th. StockNews.com upgraded shares of Veeva Systems from a "hold" rating to a "buy" rating in a research report on Monday, February 17th. The Goldman Sachs Group downgraded shares of 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 research report on Thursday, January 23rd. Finally, Truist Financial boosted their price target on shares of Veeva Systems from $210.00 to $217.00 and gave the company a "hold" rating in a research report on Thursday, March 6th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat, Veeva Systems currently has an average rating of "Moderate Buy" and a consensus target price of $256.32.

Insider Activity

In other Veeva Systems 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 directly owns 8,668 shares of the company's stock, valued at approximately $1,960,701.60. This trade represents a 8.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Timothy S. Cabral sold 3,882 shares of the business's stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $216.83, for a total value of $841,734.06. Following the sale, the director now directly owns 5,500 shares in the company, valued at $1,192,565. This trade represents a 41.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,869 shares of company stock valued at $1,284,917 in the last three months. 10.50% of the stock is currently owned by company insiders.

Veeva Systems Stock Up 2.7 %

Shares of NYSE:VEEV opened at $215.85 on Wednesday. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93. The company has a 50-day moving average price of $226.48 and a 200 day moving average price of $223.57. The company has a market cap of $35.12 billion, a P/E ratio of 53.30, a PEG ratio of 1.89 and a beta of 1.05.

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.

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