Nordea Investment Management AB Acquires 46,440 Shares of Veeva Systems Inc. (NYSE:VEEV)

Nordea Investment Management AB grew its position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 21.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 261,131 shares of the technology company's stock after purchasing an additional 46,440 shares during the period. Nordea Investment Management AB owned approximately 0.16% of Veeva Systems worth $55,073,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in VEEV. Mowery & Schoenfeld Wealth Management LLC purchased a new position in Veeva Systems in the 3rd quarter worth approximately $26,000. True Wealth Design LLC lifted its holdings 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 acquiring an additional 135 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in Veeva Systems in the third quarter worth $49,000. Fairscale Capital LLC bought a new position in Veeva Systems in the second quarter valued at $46,000. Finally, Quent Capital LLC raised its position in Veeva Systems by 794.1% during the third quarter. Quent Capital LLC now owns 304 shares of the technology company's stock valued at $64,000 after purchasing an additional 270 shares in the last quarter. Institutional investors own 88.20% of the company's stock.

Insider Transactions at Veeva Systems

In related news, SVP Jonathan Faddis sold 1,694 shares of the company's stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total value of $390,128.20. Following the sale, the senior vice president now owns 8,061 shares in the company, valued at $1,856,448.30. This represents a 17.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Thomas D. Schwenger sold 1,126 shares of Veeva Systems stock in a transaction 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 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. Insiders own 10.50% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on VEEV shares. JPMorgan Chase & Co. increased their price objective on Veeva Systems from $208.00 to $218.00 and gave the company a "neutral" rating in a research report on Monday, December 16th. Morgan Stanley increased their price target on shares of Veeva Systems from $183.00 to $195.00 and gave the company an "underweight" rating in a research report on Tuesday, December 17th. Mizuho assumed coverage on shares of Veeva Systems in a report on Wednesday, December 4th. They issued an "outperform" rating and a $275.00 price objective for the company. Citigroup increased their target price on shares of Veeva Systems from $281.00 to $307.00 and gave the company a "buy" rating in a report on Monday, December 9th. Finally, Royal Bank of Canada lifted their target price on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an "outperform" rating in a research report on Friday, December 6th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have given a buy rating to the company's stock. According to data from MarketBeat, Veeva Systems currently has a consensus rating of "Moderate Buy" and a consensus target price of $257.63.

Veeva Systems Price Performance

VEEV stock traded up $5.81 during midday trading on Wednesday, hitting $217.54. The stock had a trading volume of 1,280,370 shares, compared to its average volume of 981,954. The firm has a market cap of $35.32 billion, a price-to-earnings ratio of 53.71, a price-to-earnings-growth ratio of 2.03 and a beta of 0.84. The business has a 50-day moving average of $222.69 and a two-hundred day moving average of $208.17. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93.

About Veeva Systems

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.