Quantinno Capital Management LP Has $1.76 Million Stake in Veeva Systems Inc. (NYSE:VEEV)

Quantinno Capital Management LP grew its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 56.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,356 shares of the technology company's stock after purchasing an additional 3,004 shares during the period. Quantinno Capital Management LP's holdings in Veeva Systems were worth $1,757,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of VEEV. Barclays PLC increased its position in Veeva Systems by 18.2% in the 3rd quarter. Barclays PLC now owns 185,206 shares of the technology company's stock worth $38,870,000 after purchasing an additional 28,497 shares during the last quarter. JPMorgan Chase & Co. increased its position in Veeva Systems by 73.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company's stock worth $536,972,000 after purchasing an additional 1,081,501 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its position in Veeva Systems by 72.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company's stock worth $25,000 after purchasing an additional 50 shares during the last quarter. Dakota Wealth Management acquired a new position in shares of Veeva Systems during the 4th quarter valued at about $1,471,000. Finally, SG Americas Securities LLC increased its holdings in shares of Veeva Systems by 146.5% during the 4th quarter. SG Americas Securities LLC now owns 13,792 shares of the technology company's stock valued at $2,900,000 after acquiring an additional 8,198 shares during the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

VEEV has been the topic of a number of analyst reports. KeyCorp lowered their price objective on Veeva Systems from $260.00 to $250.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. JPMorgan Chase & Co. increased their price objective on Veeva Systems from $218.00 to $249.00 and gave the company a "neutral" rating in a report on Thursday, March 20th. Truist Financial increased their price objective on Veeva Systems from $210.00 to $217.00 and gave the company a "hold" rating in a report on Thursday, March 6th. Piper Sandler lowered their price objective on Veeva Systems from $290.00 to $255.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Finally, Robert W. Baird increased their price objective on Veeva Systems from $283.00 to $285.00 and gave the company an "outperform" rating in a report on Thursday, March 6th. Two 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's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $254.92.

Insider Activity at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 787 shares of the business's stock in a transaction dated 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 in the company, valued at $1,960,701.60. The trade was a 8.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Timothy S. Cabral sold 3,882 shares of the business's stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $216.83, for a total transaction of $841,734.06. Following the completion of the transaction, the director now owns 5,500 shares in the company, valued at approximately $1,192,565. This trade represents a 41.38% decrease in their ownership of the stock. 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 in the last 90 days. 10.30% of the stock is owned by corporate insiders.

Veeva Systems Stock Down 0.9%

Shares of VEEV stock traded down $2.12 during mid-day trading on Friday, reaching $233.41. The stock had a trading volume of 858,455 shares, compared to its average volume of 1,114,486. The firm's 50 day simple moving average is $228.95 and its 200 day simple moving average is $227.05. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93. The firm has a market cap of $37.97 billion, a PE ratio of 57.63, a P/E/G ratio of 1.89 and a beta of 0.96.

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.