Ensign Peak Advisors Inc Purchases 40,073 Shares of Veeva Systems Inc. (NYSE:VEEV)

Ensign Peak Advisors Inc lifted its stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 63.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 103,335 shares of the technology company's stock after acquiring an additional 40,073 shares during the period. Ensign Peak Advisors Inc owned approximately 0.06% of Veeva Systems worth $21,726,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Ethic Inc. lifted its stake in Veeva Systems by 11.5% in the fourth quarter. Ethic Inc. now owns 13,829 shares of the technology company's stock valued at $2,908,000 after acquiring an additional 1,426 shares during the last quarter. Fiduciary Trust Co increased its position in Veeva Systems by 8.5% during the fourth quarter. Fiduciary Trust Co now owns 8,995 shares of the technology company's stock worth $1,891,000 after acquiring an additional 706 shares during the period. Colonial Trust Co SC increased its holdings in Veeva Systems by 30.3% in the 4th quarter. Colonial Trust Co SC now owns 241 shares of the technology company's stock valued at $51,000 after buying an additional 56 shares during the period. CoreCap Advisors LLC increased its holdings in Veeva Systems by 31.7% in the 4th quarter. CoreCap Advisors LLC now owns 249 shares of the technology company's stock valued at $52,000 after buying an additional 60 shares during the period. Finally, Crestline Management LP bought a new position in Veeva Systems in the 4th quarter valued at about $2,303,000. Institutional investors and hedge funds own 88.20% of the company's stock.

Insider Buying and Selling

In related news, insider Thomas D. Schwenger sold 1,200 shares of Veeva Systems stock in a transaction 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 owns 25,889 shares in the company, valued at $5,720,692.33. The trade was a 4.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 value of $178,019.40. Following the transaction, the senior vice president now directly owns 8,668 shares of the company's stock, valued at $1,960,701.60. This represents a 8.32% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,869 shares of company stock worth $1,284,917. Insiders own 10.50% of the company's stock.

Veeva Systems Stock Down 0.1%

Shares of VEEV stock traded down $0.33 during trading on Tuesday, hitting $241.11. The company had a trading volume of 1,396,614 shares, compared to its average volume of 1,093,941. The stock's 50-day moving average is $228.50 and its two-hundred day moving average is $225.71. The stock has a market capitalization of $39.23 billion, a price-to-earnings ratio of 59.53, a price-to-earnings-growth 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.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on VEEV. StockNews.com upgraded shares of Veeva Systems from a "hold" rating to a "buy" rating in a research note on Monday, February 17th. Truist Financial boosted their target price 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. Needham & Company LLC restated a "buy" rating and set a $270.00 price target on shares of Veeva Systems in a research note on Thursday, March 6th. Scotiabank upped their target price on shares of Veeva Systems from $240.00 to $245.00 and gave the stock a "sector perform" rating in a research note on Thursday, March 6th. Finally, KeyCorp reduced their target price on shares of Veeva Systems from $260.00 to $250.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Two equities 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. According to data from MarketBeat, Veeva Systems currently has an average rating of "Moderate Buy" and an average price target of $254.92.

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.