Price T Rowe Associates Inc. MD Increases Holdings in Veeva Systems Inc. (NYSE:VEEV)

Price T Rowe Associates Inc. MD raised its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 0.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,302,672 shares of the technology company’s stock after acquiring an additional 4,541 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Veeva Systems were worth $694,388,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in VEEV. FMR LLC grew its position in Veeva Systems by 7.8% during the 4th quarter. FMR LLC now owns 3,213,360 shares of the technology company’s stock worth $675,609,000 after acquiring an additional 232,116 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Veeva Systems by 17.5% in the fourth quarter. JPMorgan Chase & Co. now owns 3,005,633 shares of the technology company’s stock worth $631,935,000 after purchasing an additional 447,041 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Veeva Systems by 36.0% in the fourth quarter. Principal Financial Group Inc. now owns 2,964,025 shares of the technology company’s stock worth $623,186,000 after buying an additional 784,741 shares during the period. Geode Capital Management LLC raised its holdings in Veeva Systems by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 2,803,344 shares of the technology company’s stock valued at $589,208,000 after buying an additional 38,108 shares during the last quarter. Finally, Van ECK Associates Corp boosted its position in Veeva Systems by 6.8% during the 4th quarter. Van ECK Associates Corp now owns 2,130,498 shares of the technology company’s stock valued at $447,937,000 after buying an additional 135,492 shares during the period. 88.20% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems Price Performance

VEEV stock opened at $227.68 on Friday. Veeva Systems Inc. has a 1-year low of $170.25 and a 1-year high of $258.93. The stock has a market capitalization of $37.04 billion, a P/E ratio of 56.22, a P/E/G ratio of 1.89 and a beta of 1.05. The business has a fifty day moving average price of $226.08 and a 200-day moving average price of $223.73.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on VEEV shares. KeyCorp decreased their price objective on shares of Veeva Systems from $260.00 to $250.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. JPMorgan Chase & Co. upped their price target on Veeva Systems from $218.00 to $249.00 and gave the company a “neutral” rating in a research report on Thursday, March 20th. Piper Sandler dropped their price objective on Veeva Systems from $290.00 to $255.00 and set an “overweight” rating for the company in a report on Wednesday. StockNews.com raised Veeva Systems from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Finally, Robert W. Baird lifted their price target on shares of Veeva Systems from $283.00 to $285.00 and gave the company an “outperform” rating in a report on Thursday, March 6th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, Veeva Systems has a consensus rating of “Moderate Buy” and an average target price of $254.92.

Insiders Place Their Bets

In other Veeva Systems news, Director Timothy S. Cabral sold 3,882 shares of the business’s stock in a transaction on Friday, April 4th. The shares were sold at an average price of $216.83, for a total transaction of $841,734.06. Following the completion of the sale, the director now directly owns 5,500 shares in the company, valued at approximately $1,192,565. The trade was a 41.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jonathan Faddis sold 787 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total value of $178,019.40. Following the completion of the transaction, the senior vice president now owns 8,668 shares in the company, valued at approximately $1,960,701.60. This trade represents a 8.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,869 shares of company stock valued at $1,284,917. 10.50% of the stock is owned by insiders.

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.