KBC Group NV boosted its stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 21.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,790 shares of the technology company's stock after acquiring an additional 9,161 shares during the period. KBC Group NV's holdings in Veeva Systems were worth $11,099,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of VEEV. MassMutual Private Wealth & Trust FSB lifted its position in shares of Veeva Systems by 72.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company's stock valued at $25,000 after acquiring an additional 50 shares during the period. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of Veeva Systems during the third quarter valued at about $26,000. True Wealth Design LLC boosted its position in shares of Veeva Systems by 3,375.0% during the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company's stock worth $29,000 after purchasing an additional 135 shares in the last quarter. Retirement Wealth Solutions LLC acquired a new stake in shares of Veeva Systems in the 4th quarter valued at about $31,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in Veeva Systems during the 3rd quarter worth approximately $49,000. Institutional investors and hedge funds own 88.20% of the company's stock.
Analyst Ratings Changes
Several analysts recently issued reports on the stock. Needham & Company LLC reissued a "buy" rating and issued a $270.00 price target on shares of Veeva Systems in a research report on Friday, January 17th. Canaccord Genuity Group raised their target price on Veeva Systems from $210.00 to $270.00 and gave the company a "hold" rating in a report on Friday, December 6th. Evercore ISI increased their price target 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. Bank of America lifted their price objective on shares of Veeva Systems from $280.00 to $290.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. Finally, StockNews.com downgraded shares of Veeva Systems from a "buy" rating to a "hold" rating in a report on Thursday, January 23rd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $253.96.
Read Our Latest Stock Report on Veeva Systems
Veeva Systems Stock Up 1.6 %
VEEV traded up $3.72 during trading on Thursday, reaching $236.02. 1,009,375 shares of the company were exchanged, compared to its average volume of 1,061,929. The company's 50-day moving average is $222.75 and its two-hundred day moving average is $212.03. The company has a market cap of $38.32 billion, a price-to-earnings ratio of 58.42, a P/E/G ratio of 2.01 and a beta of 0.84. Veeva Systems Inc. has a 12-month low of $170.25 and a 12-month high of $258.93.
Insider Buying and Selling
In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of the business's stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total value of $390,128.20. Following the transaction, the senior vice president now owns 8,061 shares in the company, valued at approximately $1,856,448.30. The trade was a 17.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas D. Schwenger sold 1,126 shares of the company's stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $240.01, for a total value 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. The trade was a 4.00 % decrease in their position. The disclosure for this sale can be found here. 10.50% of the stock is currently owned by company insiders.
About Veeva Systems
(
Free Report)
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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