BNP Paribas Financial Markets Purchases 75,830 Shares of Veeva Systems Inc. (NYSE:VEEV)

BNP Paribas Financial Markets raised its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 112.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 143,094 shares of the technology company's stock after buying an additional 75,830 shares during the period. BNP Paribas Financial Markets owned about 0.09% of Veeva Systems worth $30,086,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Cardinal Capital Management grew its stake in Veeva Systems by 0.3% during the fourth quarter. Cardinal Capital Management now owns 15,727 shares of the technology company's stock valued at $3,307,000 after acquiring an additional 44 shares in the last quarter. Johnson Financial Group Inc. grew its stake in Veeva Systems by 22.7% during the fourth quarter. Johnson Financial Group Inc. now owns 238 shares of the technology company's stock valued at $56,000 after acquiring an additional 44 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in Veeva Systems by 72.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company's stock valued at $25,000 after acquiring an additional 50 shares in the last quarter. Patriot Financial Group Insurance Agency LLC grew its stake in Veeva Systems by 0.7% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 6,975 shares of the technology company's stock valued at $1,467,000 after acquiring an additional 51 shares in the last quarter. Finally, CHICAGO TRUST Co NA grew its stake in Veeva Systems by 2.9% during the fourth quarter. CHICAGO TRUST Co NA now owns 1,880 shares of the technology company's stock valued at $395,000 after acquiring an additional 53 shares in the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems Price Performance

NYSE VEEV traded up $4.42 during trading on Monday, reaching $241.47. 2,260,375 shares of the company's stock traded hands, compared to its average volume of 1,089,888. Veeva Systems Inc. has a 12-month low of $170.25 and a 12-month high of $258.93. The firm has a market cap of $39.29 billion, a price-to-earnings ratio of 59.62, a price-to-earnings-growth ratio of 1.89 and a beta of 0.96. The company's 50 day simple moving average is $227.98 and its two-hundred day simple moving average is $225.39.

Analysts Set New Price Targets

Several equities analysts recently weighed in on VEEV shares. Scotiabank raised their target price on shares of Veeva Systems from $240.00 to $245.00 and gave the company a "sector perform" rating in a research note on Thursday, March 6th. Morgan Stanley raised their target price on shares of Veeva Systems from $195.00 to $201.00 and gave the company an "underweight" rating in a research note on Thursday, March 6th. JPMorgan Chase & Co. increased their price objective on shares of Veeva Systems from $218.00 to $249.00 and gave the company a "neutral" rating in a research report on Thursday, March 20th. Truist Financial increased their price objective on shares of Veeva Systems from $210.00 to $217.00 and gave the company a "hold" rating in a research report on Thursday, March 6th. Finally, The Goldman Sachs Group lowered shares of Veeva Systems from a "buy" rating to a "sell" rating and lowered their price objective for the company from $261.00 to $200.00 in a research report on Thursday, January 23rd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $254.92.

Insider Activity at Veeva Systems

In other news, Director Timothy S. Cabral sold 3,882 shares of Veeva Systems stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $216.83, for a total value of $841,734.06. Following the transaction, the director now owns 5,500 shares of the company's stock, valued at $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 link. Also, SVP Jonathan Faddis sold 787 shares of the business'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 transaction of $178,019.40. Following the transaction, the senior vice president now owns 8,668 shares of the company's stock, valued at approximately $1,960,701.60. This trade represents a 8.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,869 shares of company stock valued at $1,284,917 over the last ninety days. 10.50% of the stock is owned by company 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.