LGT Group Foundation Raises Holdings in Veeva Systems Inc. (NYSE:VEEV)

LGT Group Foundation lifted its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 40.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 126,228 shares of the technology company’s stock after buying an additional 36,574 shares during the period. LGT Group Foundation owned about 0.08% of Veeva Systems worth $26,539,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Plato Investment Management Ltd grew its holdings in shares of Veeva Systems by 5.2% in the 4th quarter. Plato Investment Management Ltd now owns 6,681 shares of the technology company’s stock worth $1,410,000 after acquiring an additional 332 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Veeva Systems in the 4th quarter worth approximately $1,909,000. Jones Financial Companies Lllp grew its holdings in shares of Veeva Systems by 64.8% in the 4th quarter. Jones Financial Companies Lllp now owns 5,695 shares of the technology company’s stock worth $1,197,000 after acquiring an additional 2,239 shares during the period. SRS Capital Advisors Inc. grew its holdings in shares of Veeva Systems by 7.2% in the 4th quarter. SRS Capital Advisors Inc. now owns 5,748 shares of the technology company’s stock worth $1,209,000 after acquiring an additional 385 shares during the period. Finally, Maia Wealth LLC grew its holdings in shares of Veeva Systems by 11.0% in the 4th quarter. Maia Wealth LLC now owns 3,851 shares of the technology company’s stock worth $869,000 after acquiring an additional 383 shares during the period. 88.20% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems Stock Performance

NYSE:VEEV opened at $224.33 on Monday. The company has a market capitalization of $36.42 billion, a price-to-earnings ratio of 55.39, a price-to-earnings-growth ratio of 1.89 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 stock has a 50-day simple moving average of $223.85 and a 200 day simple moving average of $219.17.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of Veeva Systems stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 8,061 shares in the company, 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 legal filing with the SEC, which is available at this link. 10.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on VEEV shares. StockNews.com upgraded Veeva Systems from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Evercore ISI raised their price objective on Veeva Systems from $220.00 to $245.00 and gave the stock an “in-line” rating in a report on Friday, December 6th. Robert W. Baird increased their target price on Veeva Systems from $275.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Scotiabank increased their target price on Veeva Systems from $235.00 to $240.00 and gave the stock a “sector perform” rating in a research report on Friday, December 6th. Finally, Canaccord Genuity Group increased their target price on Veeva Systems from $210.00 to $270.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. 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, the company has a consensus rating of “Moderate Buy” and a consensus target price of $255.08.

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.