Caisse DE Depot ET Placement DU Quebec Has $69.97 Million Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Caisse DE Depot ET Placement DU Quebec raised its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 11.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 332,784 shares of the technology company's stock after purchasing an additional 35,013 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned approximately 0.20% of Veeva Systems worth $69,968,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Utah Retirement Systems boosted its holdings in Veeva Systems by 0.4% in the fourth quarter. Utah Retirement Systems now owns 24,513 shares of the technology company's stock worth $5,154,000 after purchasing an additional 100 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Veeva Systems by 12.6% during the 4th quarter. Northern Trust Corp now owns 1,004,186 shares of the technology company's stock worth $211,130,000 after buying an additional 112,758 shares during the period. Beacon Pointe Advisors LLC bought a new stake in shares of Veeva Systems during the 4th quarter worth $261,000. Quarry LP grew its stake in Veeva Systems by 316.4% in the 4th quarter. Quarry LP now owns 1,857 shares of the technology company's stock valued at $390,000 after buying an additional 1,411 shares during the last quarter. Finally, Oxford Asset Management LLP acquired a new stake in shares of Veeva Systems in the fourth quarter valued at about $2,215,000. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Price Performance

Shares of VEEV stock traded down $4.03 during trading hours on Tuesday, reaching $232.96. 729,934 shares of the company were exchanged, compared to its average volume of 1,076,121. The company has a market cap of $37.90 billion, a price-to-earnings ratio of 57.52, a P/E/G ratio of 1.89 and a beta of 1.05. The stock's fifty day moving average is $226.72 and its two-hundred day moving average is $224.87. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93.

Wall Street Analyst Weigh In

Several analysts recently weighed in on VEEV shares. JPMorgan Chase & Co. increased their target price on Veeva Systems from $218.00 to $249.00 and gave the company a "neutral" rating in a research note on Thursday, March 20th. 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 note on Thursday, March 6th. StockNews.com raised shares of Veeva Systems from a "hold" rating to a "buy" rating in a research report on Monday, February 17th. The Goldman Sachs Group downgraded shares of Veeva Systems from a "buy" rating to a "sell" rating and reduced their price target for the company from $261.00 to $200.00 in a report on Thursday, January 23rd. Finally, Needham & Company LLC restated a "buy" rating and set a $270.00 price objective on shares of Veeva Systems in a report on Thursday, March 6th. Two research analysts have rated the stock with a sell rating, eight have issued 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 an average target price of $254.92.

Insider Activity at Veeva Systems

In other news, insider Thomas D. Schwenger sold 1,200 shares of Veeva Systems stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $220.97, for a total value of $265,164.00. Following the sale, the insider now directly owns 25,889 shares in the company, valued at $5,720,692.33. This trade represents a 4.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jonathan Faddis sold 787 shares of the firm's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total transaction of $178,019.40. Following the completion of the transaction, the senior vice president now directly 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 worth $1,284,917 over the last 90 days. Insiders own 10.50% of the company's stock.

Veeva Systems 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.