Crestline Management LP Invests $2.30 Million in Veeva Systems Inc. (NYSE:VEEV)

Crestline Management LP acquired a new position in Veeva Systems Inc. (NYSE:VEEV - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 10,956 shares of the technology company's stock, valued at approximately $2,303,000.

Other large investors have also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its holdings in Veeva Systems by 138.9% in the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company's stock valued at $457,366,000 after acquiring an additional 1,267,061 shares in the last quarter. Barclays PLC boosted its stake in shares of Veeva Systems by 18.2% during the 3rd quarter. Barclays PLC now owns 185,206 shares of the technology company's stock valued at $38,870,000 after purchasing an additional 28,497 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Veeva Systems during the third quarter valued at about $168,000. JPMorgan Chase & Co. raised its stake in Veeva Systems by 73.2% in the third quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company's stock worth $536,972,000 after buying an additional 1,081,501 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in Veeva Systems by 21.6% in the fourth quarter. Nordea Investment Management AB now owns 261,131 shares of the technology company's stock worth $55,073,000 after buying an additional 46,440 shares during the period. 88.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

VEEV has been the topic of a number of research analyst reports. Truist Financial upped their target price on Veeva Systems from $210.00 to $217.00 and gave the stock a "hold" rating in a report on Thursday, March 6th. Stephens reissued an "overweight" rating and set a $280.00 price objective on shares of Veeva Systems in a research report on Thursday, March 6th. KeyCorp reduced their target price 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. Needham & Company LLC reissued a "buy" rating and set a $270.00 price target on shares of Veeva Systems 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 report on Monday, February 17th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Veeva Systems currently has a consensus rating of "Moderate Buy" and an average price target of $254.92.

Insider Buying and Selling at Veeva Systems

In other news, SVP Jonathan Faddis sold 787 shares of Veeva Systems 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 transaction, the senior vice president now owns 8,668 shares in the company, valued at $1,960,701.60. This trade represents a 8.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Thomas D. Schwenger sold 1,200 shares of the company's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $220.97, for a total value of $265,164.00. Following the completion of the sale, the insider now owns 25,889 shares of the company's stock, valued at $5,720,692.33. This trade represents a 4.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,869 shares of company stock valued at $1,284,917. 10.50% of the stock is owned by company insiders.

Veeva Systems Stock Down 1.2 %

VEEV traded down $2.93 during mid-day trading on Friday, reaching $236.60. 977,455 shares of the company traded hands, compared to its average volume of 1,085,187. The stock has a market capitalization of $38.49 billion, a P/E ratio of 58.42, a P/E/G ratio of 1.89 and a beta of 0.96. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93. The company's fifty day moving average price is $227.98 and its 200-day moving average price is $225.30.

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.