Veeva Systems Inc. (NYSE:VEEV) Shares Bought by US Bancorp DE

US Bancorp DE boosted its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 35.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 151,414 shares of the technology company’s stock after buying an additional 39,258 shares during the period. US Bancorp DE owned approximately 0.09% of Veeva Systems worth $31,835,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in VEEV. Massachusetts Financial Services Co. MA increased its position in Veeva Systems by 64.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company’s stock valued at $744,084,000 after buying an additional 1,392,256 shares in the last quarter. Principal Financial Group Inc. increased its position in Veeva Systems by 138.9% during the 3rd 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 in the last quarter. JPMorgan Chase & Co. increased its holdings 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 purchasing an additional 1,081,501 shares during the period. FMR LLC increased 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 valued at $625,674,000 after purchasing an additional 610,021 shares during the period. Finally, Seilern Investment Management Ltd acquired a new position in shares of Veeva Systems in the fourth quarter valued at about $94,957,000. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Trading Up 1.5 %

VEEV stock opened at $224.33 on Monday. The company has a market capitalization of $36.42 billion, a PE ratio of 55.39, a P/E/G ratio of 1.89 and a beta of 0.85. Veeva Systems Inc. has a 12-month low of $170.25 and a 12-month high of $258.93. The business’s fifty day moving average price is $223.85 and its 200 day moving average price is $219.17.

Analysts Set New Price Targets

VEEV has been the topic of a number of research reports. Truist Financial cut their price objective on Veeva Systems from $261.00 to $210.00 and set a “hold” rating on the stock in a report on Monday, January 13th. Stephens assumed coverage on Veeva Systems in a report on Friday, December 20th. They set an “overweight” rating and a $280.00 target price for the company. Robert W. Baird increased their target price on Veeva Systems from $275.00 to $283.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Evercore ISI increased their target price on Veeva Systems from $220.00 to $245.00 and gave the company an “in-line” rating in a report on Friday, December 6th. Finally, StockNews.com raised Veeva Systems from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $255.08.

Insider Activity at Veeva Systems

In related news, SVP Jonathan Faddis sold 1,694 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total value of $390,128.20. Following the sale, the senior vice president now owns 8,061 shares in the company, valued at approximately $1,856,448.30. The trade was a 17.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 10.50% of the company’s stock.

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.