3,259,716 Shares in Veeva Systems Inc. (NYSE:VEEV) Acquired by Leigh Baldwin & CO. LLC

Leigh Baldwin & CO. LLC bought a new position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,259,716 shares of the technology company's stock, valued at approximately $685,355,000. Veeva Systems comprises about 3.6% of Leigh Baldwin & CO. LLC's investment portfolio, making the stock its 7th largest holding. Leigh Baldwin & CO. LLC owned approximately 2.01% of Veeva Systems at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in Veeva Systems during the fourth quarter worth $294,785,000. JPMorgan Chase & Co. lifted its holdings in Veeva Systems by 73.2% during 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 in the last quarter. Wealthfront Advisers LLC lifted its holdings in Veeva Systems by 29,760.5% during the fourth quarter. Wealthfront Advisers LLC now owns 1,048,700 shares of the technology company's stock valued at $220,489,000 after purchasing an additional 1,045,188 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Veeva Systems by 36.0% during the fourth quarter. Principal Financial Group Inc. now owns 2,964,025 shares of the technology company's stock valued at $623,186,000 after purchasing an additional 784,741 shares in the last quarter. Finally, Marshall Wace LLP lifted its holdings in Veeva Systems by 413.3% during the fourth quarter. Marshall Wace LLP now owns 638,380 shares of the technology company's stock valued at $134,219,000 after purchasing an additional 514,004 shares in the last quarter. Hedge funds and other institutional investors own 88.20% of the company's stock.

Insiders Place Their Bets

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

Veeva Systems Stock Performance

Shares of NYSE VEEV opened at $236.60 on Monday. The firm has a market capitalization of $38.49 billion, a P/E ratio of 58.42, a PEG ratio of 1.89 and a beta of 0.96. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93. The company's fifty day moving average is $227.98 and its two-hundred day moving average is $225.39.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on VEEV shares. Stephens reiterated an "overweight" rating and issued a $280.00 target price on shares of Veeva Systems in a research report on Thursday, March 6th. KeyCorp cut their price objective on shares of Veeva Systems from $260.00 to $250.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Truist Financial raised their price objective on shares of Veeva Systems from $210.00 to $217.00 and gave the stock a "hold" rating in a research report on Thursday, March 6th. Robert W. Baird raised their price objective on shares of Veeva Systems from $283.00 to $285.00 and gave the stock an "outperform" rating in a research report on Thursday, March 6th. Finally, StockNews.com upgraded shares of Veeva Systems from a "hold" rating to a "buy" rating in a research report on Monday, February 17th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Veeva Systems currently has an average rating of "Moderate Buy" and a consensus target price of $254.92.

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.

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