O Shaughnessy Asset Management LLC Grows Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

O Shaughnessy Asset Management LLC increased its holdings in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 23.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,079 shares of the technology company's stock after acquiring an additional 1,537 shares during the period. O Shaughnessy Asset Management LLC's holdings in Veeva Systems were worth $1,699,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB increased its stake in Veeva Systems by 72.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company's stock valued at $25,000 after buying an additional 50 shares during the last quarter. Centricity Wealth Management LLC purchased a new stake in Veeva Systems in the 4th quarter valued at about $25,000. Smithfield Trust Co increased its stake in Veeva Systems by 145.5% in the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company's stock valued at $27,000 after buying an additional 80 shares during the last quarter. Avion Wealth increased its stake in Veeva Systems by 635.0% in the 4th quarter. Avion Wealth now owns 147 shares of the technology company's stock valued at $30,000 after buying an additional 127 shares during the last quarter. Finally, Retirement Wealth Solutions LLC purchased a new stake in Veeva Systems in the 4th quarter valued at about $31,000. Institutional investors and hedge funds own 88.20% of the company's stock.

Wall Street Analysts Forecast Growth

VEEV has been the subject of several analyst reports. Morgan Stanley increased their price objective on shares of Veeva Systems from $195.00 to $201.00 and gave the company an "underweight" rating in a research note on Thursday, March 6th. The Goldman Sachs Group downgraded shares of Veeva Systems from a "buy" rating to a "sell" rating and reduced their target price for the company from $261.00 to $200.00 in a research report on Thursday, January 23rd. Scotiabank increased their target price on shares of 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 reissued a "buy" rating and set a $270.00 target price on shares of Veeva Systems in a research report on Thursday, March 6th. Finally, JPMorgan Chase & Co. increased their target price on shares of Veeva Systems from $218.00 to $249.00 and gave the company a "neutral" rating in a research report on Thursday, March 20th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $256.52.

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Insider Activity

In other news, Director Timothy S. Cabral sold 3,882 shares of the firm's stock in a transaction on Friday, April 4th. The shares were sold at an average price of $216.83, for a total transaction of $841,734.06. Following the sale, the director now owns 5,500 shares in the company, valued at approximately $1,192,565. This trade represents a 41.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Jonathan Faddis sold 787 shares of Veeva Systems stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total transaction of $178,019.40. Following the completion of the transaction, the senior vice president now owns 8,668 shares in the company, valued at approximately $1,960,701.60. The trade was a 8.32 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 10.50% of the company's stock.

Veeva Systems Trading Down 3.5 %

Shares of Veeva Systems stock traded down $7.64 on Thursday, hitting $209.41. 378,500 shares of the company traded hands, compared to its average volume of 1,058,061. The firm's 50-day simple moving average is $229.83 and its 200 day simple moving average is $222.97. The company has a market cap of $34.07 billion, a P/E ratio of 51.87, a P/E/G ratio of 1.89 and a beta of 1.05. Veeva Systems Inc. has a 12-month low of $170.25 and a 12-month high of $258.93.

Veeva Systems 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.