Veeva Systems Inc. (NYSE:VEEV) Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP raised its holdings in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 8.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 473,154 shares of the technology company's stock after buying an additional 35,348 shares during the quarter. Dimensional Fund Advisors LP owned about 0.29% of Veeva Systems worth $99,490,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Norges Bank acquired a new stake in Veeva Systems in the 4th quarter worth approximately $294,785,000. Principal Financial Group Inc. increased its position in shares of 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 acquiring an additional 1,267,061 shares during the period. JPMorgan Chase & Co. raised its stake 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 worth $536,972,000 after acquiring an additional 1,081,501 shares during the last quarter. Wealthfront Advisers LLC lifted its position in Veeva Systems by 29,760.5% during the 4th quarter. Wealthfront Advisers LLC now owns 1,048,700 shares of the technology company's stock worth $220,489,000 after acquiring an additional 1,045,188 shares during the period. Finally, Marshall Wace LLP grew its stake in Veeva Systems by 413.3% during the 4th quarter. Marshall Wace LLP now owns 638,380 shares of the technology company's stock valued at $134,219,000 after purchasing an additional 514,004 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company's stock.

Veeva Systems Trading Down 0.1 %

NYSE:VEEV opened at $227.50 on Monday. The firm has a market cap of $37.01 billion, a PE ratio of 56.17, a price-to-earnings-growth ratio of 1.89 and a beta of 1.05. The stock has a fifty day moving average price of $225.97 and a 200 day moving average price of $224.10. Veeva Systems Inc. has a 12-month low of $170.25 and a 12-month high of $258.93.

Insider Buying and Selling

In related news, Director Timothy S. Cabral sold 3,882 shares of the firm'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 transaction of $841,734.06. Following the transaction, the director now owns 5,500 shares in the company, valued at $1,192,565. This trade represents a 41.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Thomas D. Schwenger sold 1,200 shares of Veeva Systems stock in a transaction on Monday, April 14th. The shares were sold at an average price of $220.97, for a total transaction of $265,164.00. Following the completion of the transaction, 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. Over the last ninety days, insiders have sold 5,869 shares of company stock worth $1,284,917. Company insiders own 10.50% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on VEEV. Truist Financial increased their price objective on shares of Veeva Systems from $210.00 to $217.00 and gave the stock a "hold" rating in a research note on Thursday, March 6th. Scotiabank increased their target price on Veeva Systems from $240.00 to $245.00 and gave the company a "sector perform" rating in a research report on Thursday, March 6th. Needham & Company LLC reiterated a "buy" rating and issued a $270.00 price objective on shares of Veeva Systems in a report on Thursday, March 6th. KeyCorp dropped their target price on shares of Veeva Systems from $260.00 to $250.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Finally, Piper Sandler dropped their price target on Veeva Systems from $290.00 to $255.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $254.92.

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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