BLI Banque de Luxembourg Investments Invests $5.68 Million in Veeva Systems Inc. (NYSE:VEEV)

BLI Banque de Luxembourg Investments bought a new stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 26,900 shares of the technology company's stock, valued at approximately $5,684,000.

A number of other large investors have also made changes to their positions in VEEV. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Veeva Systems by 72.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company's stock worth $25,000 after acquiring an additional 50 shares during the period. Centricity Wealth Management LLC bought a new position in Veeva Systems in the 4th quarter worth approximately $25,000. Smithfield Trust Co grew its holdings in Veeva Systems by 145.5% during the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company's stock valued at $27,000 after buying an additional 80 shares in the last quarter. Retirement Wealth Solutions LLC bought a new stake in shares of Veeva Systems during the fourth quarter valued at approximately $31,000. Finally, Avion Wealth lifted its holdings in shares of Veeva Systems by 635.0% in the fourth quarter. Avion Wealth now owns 147 shares of the technology company's stock worth $30,000 after buying an additional 127 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on VEEV shares. Morgan Stanley lifted their price target on shares of Veeva Systems from $195.00 to $201.00 and gave the company an "underweight" rating in a report on Thursday, March 6th. JPMorgan Chase & Co. boosted their target price on Veeva Systems from $218.00 to $249.00 and gave the stock a "neutral" rating in a research report on Thursday, March 20th. Robert W. Baird upped their price objective on Veeva Systems from $283.00 to $285.00 and gave the stock an "outperform" rating in a report on Thursday, March 6th. StockNews.com raised shares of Veeva Systems from a "hold" rating to a "buy" rating in a report on Monday, February 17th. Finally, The Goldman Sachs Group downgraded shares of Veeva Systems from a "buy" rating to a "sell" rating and decreased their price target for the company from $261.00 to $200.00 in a research note on Thursday, January 23rd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $254.92.

Insider Buying and Selling

In related news, SVP Jonathan Faddis sold 787 shares of the company's stock in a transaction that occurred 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thomas D. Schwenger sold 1,200 shares of the stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $220.97, for a total transaction of $265,164.00. Following the completion of the transaction, the insider now owns 25,889 shares in the company, valued at approximately $5,720,692.33. This trade represents a 4.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,869 shares of company stock worth $1,284,917 in the last three months. Corporate insiders own 10.50% of the company's stock.

Veeva Systems Trading Down 1.7 %

Shares of VEEV traded down $4.03 during midday trading on Tuesday, hitting $232.96. 734,191 shares of the company's stock traded hands, compared to its average volume of 1,078,398. The stock has a market capitalization of $37.90 billion, a price-to-earnings ratio of 57.52, a price-to-earnings-growth ratio of 1.89 and a beta of 0.96. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93. The firm's fifty day moving average is $226.95 and its 200-day moving average is $224.92.

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.