Vontobel Holding Ltd. Grows Position in Veeva Systems Inc. (NYSE:VEEV)

Vontobel Holding Ltd. raised its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 13.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 26,984 shares of the technology company’s stock after acquiring an additional 3,155 shares during the quarter. Vontobel Holding Ltd.’s holdings in Veeva Systems were worth $5,673,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA lifted its holdings in 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 valued at $744,084,000 after purchasing an additional 1,392,256 shares during the last quarter. State Street Corp lifted 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 valued at $691,132,000 after purchasing an additional 47,872 shares during the last quarter. FMR LLC lifted its holdings in shares of Veeva Systems by 25.7% in the third quarter. FMR LLC now owns 2,981,244 shares of the technology company’s stock worth $625,674,000 after buying an additional 610,021 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of 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 acquiring an additional 149,807 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of 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 acquiring an additional 1,081,501 shares during the period. 88.20% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems Stock Performance

VEEV stock opened at $234.09 on Friday. The company has a market capitalization of $38.00 billion, a PE ratio of 57.80, a price-to-earnings-growth ratio of 1.97 and a beta of 0.85. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93. The company’s 50 day moving average price is $224.48 and its two-hundred day moving average price is $215.96.

Insider Buying and Selling

In related news, SVP Jonathan Faddis sold 1,694 shares of Veeva Systems stock in a transaction 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 transaction, the senior vice president now directly 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 Securities & Exchange Commission, which is available through this link. 10.50% of the stock is owned by insiders.

Analyst Ratings Changes

VEEV has been the subject of a number of analyst reports. Piper Sandler raised their price objective on shares of Veeva Systems from $280.00 to $290.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. 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 for the company. Wells Fargo & Company raised their price objective on shares of Veeva Systems from $275.00 to $285.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Royal Bank of Canada raised their price objective on shares of Veeva Systems from $275.00 to $285.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Finally, StockNews.com lowered shares of Veeva Systems from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, Veeva Systems has an average rating of “Moderate Buy” and an average price target of $253.96.

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.