Aviva PLC Buys 78,927 Shares of Veeva Systems Inc. (NYSE:VEEV)

Aviva PLC grew its stake in Veeva Systems Inc. (NYSE:VEEV) by 485.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,190 shares of the technology company’s stock after acquiring an additional 78,927 shares during the period. Aviva PLC’s holdings in Veeva Systems were worth $20,014,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. increased its stake 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 valued at $457,366,000 after buying an additional 1,267,061 shares during the period. Janus Henderson Group PLC grew its holdings in Veeva Systems by 34.4% during the 3rd quarter. Janus Henderson Group PLC now owns 13,824 shares of the technology company’s stock worth $2,901,000 after acquiring an additional 3,538 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Veeva Systems during the 3rd quarter valued at about $1,386,000. IHT Wealth Management LLC bought a new stake in shares of Veeva Systems in the 3rd quarter valued at about $229,000. Finally, Point72 DIFC Ltd purchased a new stake in shares of Veeva Systems in the 3rd quarter worth approximately $104,000. 88.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on VEEV shares. Needham & Company LLC reissued a “buy” rating and set a $270.00 price objective on shares of Veeva Systems in a report on Thursday, March 6th. Scotiabank lifted their price target on Veeva Systems from $240.00 to $245.00 and gave the company a “sector perform” rating in a report on Thursday, March 6th. Stephens restated an “overweight” rating and set a $280.00 price objective on shares of Veeva Systems in a research note on Thursday, March 6th. The Goldman Sachs Group downgraded Veeva Systems from a “buy” rating to a “sell” rating and dropped their price objective for the company from $261.00 to $200.00 in a research report on Thursday, January 23rd. Finally, StockNews.com upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $256.52.

Veeva Systems Stock Performance

Shares of VEEV opened at $214.71 on Tuesday. The stock has a 50-day moving average of $231.52 and a two-hundred day moving average of $223.12. The stock has a market cap of $34.93 billion, a P/E ratio of 53.01, a P/E/G ratio of 1.89 and a beta of 1.05. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93.

Insider Buying and Selling

In related news, SVP Jonathan Faddis sold 787 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total value of $178,019.40. Following the transaction, the senior vice president now owns 8,668 shares in the company, valued at approximately $1,960,701.60. This represents a 8.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 10.50% of the company’s stock.

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.