Vontobel Holding Ltd. Has $5.67 Million Position in Veeva Systems Inc. (NYSE:VEEV)

Vontobel Holding Ltd. grew its holdings in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 13.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,984 shares of the technology company's stock after purchasing an additional 3,155 shares during the period. Vontobel Holding Ltd.'s holdings in Veeva Systems were worth $5,673,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Massachusetts Financial Services Co. MA raised its holdings in shares of Veeva Systems by 64.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company's stock valued at $744,084,000 after purchasing an additional 1,392,256 shares during the last quarter. State Street Corp increased its holdings in Veeva Systems by 1.5% during the third quarter. State Street Corp now owns 3,293,141 shares of the technology company's stock worth $691,132,000 after buying an additional 47,872 shares during the last quarter. FMR LLC lifted its stake in Veeva Systems by 25.7% in the 3rd quarter. FMR LLC now owns 2,981,244 shares of the technology company's stock valued at $625,674,000 after purchasing an additional 610,021 shares during the last quarter. Geode Capital Management LLC raised its stake in Veeva Systems by 5.7% in the third quarter. Geode Capital Management LLC now owns 2,765,236 shares of the technology company's stock valued at $579,630,000 after buying an additional 149,807 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Veeva Systems by 73.2% in the third quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company's stock valued at $536,972,000 after buying an additional 1,081,501 shares during the period. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Stock Performance

Shares of VEEV traded down $3.58 during trading hours on Wednesday, reaching $229.25. The stock had a trading volume of 1,065,298 shares, compared to its average volume of 983,840. Veeva Systems Inc. has a 12 month low of $170.25 and a 12 month high of $258.93. The stock has a market capitalization of $37.22 billion, a PE ratio of 56.61, a PEG ratio of 1.93 and a beta of 0.85. The company's 50-day moving average is $223.98 and its two-hundred day moving average is $216.94.

Insider Buying and Selling

In related news, SVP Jonathan Faddis sold 1,694 shares of the firm's stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total transaction of $390,128.20. Following the completion of the transaction, the senior vice president now directly owns 8,061 shares of the company's stock, valued at $1,856,448.30. This trade represents a 17.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 10.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports on VEEV shares. Scotiabank upped their price objective on Veeva Systems from $235.00 to $240.00 and gave the company a "sector perform" rating in a research note on Friday, December 6th. Robert W. Baird upped their target price on Veeva Systems from $275.00 to $283.00 and gave the company an "outperform" rating in a research report on Friday, December 6th. KeyCorp decreased their target price on Veeva Systems from $285.00 to $255.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. Piper Sandler upped their target price on Veeva Systems from $280.00 to $290.00 and gave the company an "overweight" rating in a research report on Friday, December 6th. Finally, Needham & Company LLC reissued a "buy" rating and set a $270.00 price target on shares of Veeva Systems in a research report on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have assigned a buy rating to the company's stock. According to MarketBeat.com, Veeva Systems has a consensus rating of "Moderate Buy" and an average target price of $253.96.

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.