Veeva Systems Inc. (NYSE:VEEV) is Linonia Partnership LP's 4th Largest Position

Linonia Partnership LP boosted its stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 42.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,202,972 shares of the technology company's stock after purchasing an additional 356,300 shares during the period. Veeva Systems makes up about 13.3% of Linonia Partnership LP's portfolio, making the stock its 4th biggest position. Linonia Partnership LP owned approximately 0.74% of Veeva Systems worth $252,925,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of VEEV. Norges Bank acquired a new stake in Veeva Systems during the 4th quarter valued at approximately $294,785,000. Principal Financial Group Inc. raised its holdings in shares of Veeva Systems by 138.9% during the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company's stock worth $457,366,000 after purchasing an additional 1,267,061 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Veeva Systems by 73.2% during the third quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company's stock valued at $536,972,000 after purchasing an additional 1,081,501 shares during the period. Wealthfront Advisers LLC boosted its holdings in Veeva Systems by 29,760.5% in the fourth quarter. Wealthfront Advisers LLC now owns 1,048,700 shares of the technology company's stock valued at $220,489,000 after purchasing an additional 1,045,188 shares during the last quarter. Finally, Marshall Wace LLP grew its position in Veeva Systems by 413.3% during the 4th quarter. Marshall Wace LLP now owns 638,380 shares of the technology company's stock worth $134,219,000 after purchasing an additional 514,004 shares during the period. Institutional investors and hedge funds own 88.20% of the company's stock.

Insider Transactions at Veeva Systems

In related news, insider Thomas D. Schwenger sold 1,200 shares of the business's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $220.97, for a total value of $265,164.00. Following the completion of the transaction, the insider now owns 25,889 shares of the company's stock, valued at approximately $5,720,692.33. The trade was a 4.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Jonathan Faddis sold 787 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total transaction of $178,019.40. Following the sale, the senior vice president now directly owns 8,668 shares in the company, valued at $1,960,701.60. This represents a 8.32 % decrease in their ownership of the stock. 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 90 days. 10.50% of the stock is currently owned by insiders.

Veeva Systems Stock Up 2.4 %

VEEV stock traded up $4.96 on Tuesday, reaching $215.04. 329,432 shares of the company's stock were exchanged, compared to its average volume of 1,065,741. The stock has a fifty day moving average of $226.85 and a 200-day moving average of $223.63. The firm has a market cap of $34.99 billion, a PE ratio of 53.10, a P/E/G ratio of 1.89 and a beta of 1.05. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93.

Analysts Set New Price Targets

VEEV has been the topic of a number of recent research reports. Morgan Stanley upped their target price on Veeva Systems from $195.00 to $201.00 and gave the stock an "underweight" rating in a research note on Thursday, March 6th. Scotiabank boosted 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 note on Thursday, March 6th. Stephens restated an "overweight" rating and set a $280.00 price target on shares of Veeva Systems in a research report on Thursday, March 6th. JPMorgan Chase & Co. increased their target price on shares of Veeva Systems from $218.00 to $249.00 and gave the stock a "neutral" rating in a research note on Thursday, March 20th. Finally, Robert W. Baird upped their target price on Veeva Systems from $283.00 to $285.00 and gave the stock an "outperform" rating in a research note on Thursday, March 6th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Veeva Systems has a consensus rating of "Moderate Buy" and an average target price of $256.32.

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.