Fjarde AP Fonden Fourth Swedish National Pension Fund Raises Holdings in Veeva Systems Inc. (NYSE:VEEV)

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 4.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,769 shares of the technology company’s stock after purchasing an additional 2,000 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Veeva Systems were worth $8,992,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Howard Capital Management Inc. grew its position in Veeva Systems by 7.5% in the fourth quarter. Howard Capital Management Inc. now owns 1,177 shares of the technology company’s stock worth $247,000 after acquiring an additional 82 shares in the last quarter. Turning Point Benefit Group Inc. purchased a new position in Veeva Systems in the fourth quarter worth about $393,000. Allianz Asset Management GmbH grew its position in Veeva Systems by 31.9% in the fourth quarter. Allianz Asset Management GmbH now owns 548,493 shares of the technology company’s stock worth $115,321,000 after acquiring an additional 132,633 shares in the last quarter. Centricity Wealth Management LLC purchased a new position in Veeva Systems in the fourth quarter worth about $25,000. Finally, Suncoast Equity Management grew its position in Veeva Systems by 8.9% in the fourth quarter. Suncoast Equity Management now owns 3,715 shares of the technology company’s stock worth $781,000 after acquiring an additional 305 shares in the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Down 1.2 %

Shares of NYSE:VEEV opened at $226.10 on Monday. The company has a market capitalization of $36.71 billion, a price-to-earnings ratio of 55.83, a price-to-earnings-growth ratio of 1.89 and a beta of 0.85. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93. The firm has a 50 day moving average of $223.76 and a 200 day moving average of $217.86.

Insider Buying and Selling

In related news, SVP Jonathan Faddis sold 1,694 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total value of $390,128.20. Following the completion of the transaction, 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. 10.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Bank of America lifted their price target on Veeva Systems from $280.00 to $290.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Citigroup boosted 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. KeyCorp dropped their target price on Veeva Systems from $285.00 to $255.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Needham & Company LLC restated a “buy” rating and set a $270.00 target price on shares of Veeva Systems in a research report on Friday, January 17th. Finally, JPMorgan Chase & Co. boosted their target price on Veeva Systems from $208.00 to $218.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, Veeva Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $255.08.

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.