9,518 Shares in Veeva Systems Inc. (NYSE:VEEV) Bought by Shaker Investments LLC OH

Shaker Investments LLC OH acquired a new position in shares of Veeva Systems Inc. (NYSE:VEEV) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 9,518 shares of the technology company’s stock, valued at approximately $2,001,000.

Several other large investors also recently made changes to their positions in VEEV. Massachusetts Financial Services Co. MA raised its position in shares of Veeva Systems by 64.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company’s stock worth $744,084,000 after purchasing an additional 1,392,256 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Veeva Systems by 138.9% in 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 purchasing an additional 1,267,061 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of 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 buying an additional 1,081,501 shares during the last quarter. FMR LLC raised its position 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 buying an additional 610,021 shares during the last quarter. Finally, Seilern Investment Management Ltd bought a new position in Veeva Systems during the 4th quarter valued at $94,957,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Jonathan Faddis sold 1,694 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total transaction of $390,128.20. Following the sale, the senior vice president now owns 8,061 shares of the company’s stock, valued at $1,856,448.30. The trade was a 17.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 10.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on VEEV. Piper Sandler boosted their price target on shares of Veeva Systems from $280.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Mizuho started coverage on Veeva Systems in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $275.00 price objective on the stock. Citigroup raised their target price on Veeva Systems from $281.00 to $307.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Stephens initiated coverage on shares of Veeva Systems in a research report on Friday, December 20th. They issued an “overweight” rating and a $280.00 price objective on the stock. Finally, Evercore ISI raised their price target on shares of Veeva Systems from $220.00 to $245.00 and gave the stock an “in-line” rating in a research note on Friday, December 6th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $253.96.

Veeva Systems Trading Up 0.1 %

Shares of Veeva Systems stock opened at $237.38 on Tuesday. The company’s fifty day simple moving average is $224.48 and its two-hundred day simple moving average is $214.76. Veeva Systems Inc. has a 12-month low of $170.25 and a 12-month high of $258.93. The company has a market cap of $38.54 billion, a P/E ratio of 58.61, a PEG ratio of 1.97 and a beta of 0.85.

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.