Quantinno Capital Management LP Purchases 3,004 Shares of Veeva Systems Inc. (NYSE:VEEV)

Quantinno Capital Management LP increased its position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 56.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,356 shares of the technology company's stock after acquiring 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.

A number of other hedge funds have also recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. increased its holdings in shares of Veeva Systems by 3.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,169,698 shares of the technology company's stock valued at $1,086,930,000 after buying an additional 177,201 shares in the last quarter. Leigh Baldwin & CO. LLC acquired a new position in shares of Veeva Systems in the 4th quarter worth $685,355,000. FMR LLC raised its position in shares of Veeva Systems by 7.8% during the fourth quarter. FMR LLC now owns 3,213,360 shares of the technology company's stock worth $675,609,000 after purchasing an additional 232,116 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Veeva Systems by 17.5% during the fourth quarter. JPMorgan Chase & Co. now owns 3,005,633 shares of the technology company's stock valued at $631,935,000 after purchasing an additional 447,041 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Veeva Systems by 36.0% in the 4th quarter. Principal Financial Group Inc. now owns 2,964,025 shares of the technology company's stock valued at $623,186,000 after purchasing an additional 784,741 shares during the period. 88.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,200 shares of the stock in a transaction on Monday, April 14th. The shares were sold at an average price of $220.97, for a total transaction of $265,164.00. Following the transaction, the insider now directly owns 25,889 shares of the company's stock, valued at $5,720,692.33. This represents a 4.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Timothy S. Cabral sold 3,882 shares of the business's stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $216.83, for a total value of $841,734.06. Following the completion of the sale, the director now directly owns 5,500 shares of the company's stock, valued at $1,192,565. This represents a 41.38% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,869 shares of company stock worth $1,284,917. 10.30% of the stock is owned by corporate insiders.

Veeva Systems Trading Up 2.8%

NYSE VEEV traded up $6.61 during trading on Tuesday, reaching $239.61. The company's stock had a trading volume of 215,769 shares, compared to its average volume of 1,111,040. The stock has a market capitalization of $38.98 billion, a PE ratio of 59.11, a PEG ratio of 1.89 and a beta of 0.96. Veeva Systems Inc. has a 1-year low of $170.25 and a 1-year high of $258.93. The business has a 50-day moving average price of $228.88 and a 200-day moving average price of $227.14.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on VEEV shares. Truist Financial lifted their price target on Veeva Systems from $210.00 to $217.00 and gave the stock a "hold" rating in a research note on Thursday, March 6th. Wall Street Zen upgraded shares of Veeva Systems from a "hold" rating to a "buy" rating in a report on Monday, February 17th. Scotiabank upped their price target on shares of Veeva Systems from $240.00 to $245.00 and gave the company a "sector perform" rating in a research report on Thursday, March 6th. Piper Sandler decreased their price objective on shares of Veeva Systems from $290.00 to $255.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Finally, Stephens reissued an "overweight" rating and set a $280.00 target price on shares of Veeva Systems in a research note on Thursday, March 6th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus 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.