Sphera Management Technology Funds Ltd Invests $631,000 in Veeva Systems Inc. (NYSE:VEEV)

Sphera Management Technology Funds Ltd acquired a new position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,000 shares of the technology company's stock, valued at approximately $631,000.

A number of other large investors have also modified their holdings of the stock. Barclays PLC grew its stake in shares of Veeva Systems by 18.2% during the third 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 in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Veeva Systems by 73.2% during the third 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 in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Veeva Systems by 182.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 60,072 shares of the technology company's stock worth $12,630,000 after purchasing an additional 38,793 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in shares of Veeva Systems by 71.5% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 2,507 shares of the technology company's stock worth $527,000 after purchasing an additional 1,045 shares in the last quarter. Finally, Procyon Advisors LLC grew its stake in shares of Veeva Systems by 11.9% during the fourth quarter. Procyon Advisors LLC now owns 3,796 shares of the technology company's stock worth $798,000 after purchasing an additional 405 shares in the last quarter. Hedge funds and other institutional investors own 88.20% of the company's stock.

Veeva Systems Stock Performance

NYSE:VEEV traded up $0.44 during mid-day trading on Thursday, reaching $235.44. The stock had a trading volume of 1,068,020 shares, compared to its average volume of 1,112,166. The firm has a market capitalization of $38.31 billion, a price-to-earnings ratio of 58.13, a PEG ratio of 1.89 and a beta of 0.96. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93. The business has a 50 day simple moving average of $229.03 and a 200 day simple moving average of $226.75.

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 transaction of $265,164.00. Following the completion of the sale, the insider now directly owns 25,889 shares in the company, valued at approximately $5,720,692.33. This trade represents a 4.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jonathan Faddis sold 787 shares of Veeva Systems stock in a transaction that occurred 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 sale, the senior vice president now owns 8,668 shares of the company's stock, valued at approximately $1,960,701.60. The trade was a 8.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,869 shares of company stock worth $1,284,917 over the last 90 days. Company insiders own 10.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Needham & Company LLC reiterated a "buy" rating and set a $270.00 target price on shares of Veeva Systems in a research note on Thursday, March 6th. Stephens reaffirmed an "overweight" rating and set a $280.00 price objective on shares of Veeva Systems in a report on Thursday, March 6th. KeyCorp dropped 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. Robert W. Baird raised their price objective on Veeva Systems from $283.00 to $285.00 and gave the stock an "outperform" rating in a report on Thursday, March 6th. Finally, Truist Financial raised their price objective on Veeva Systems from $210.00 to $217.00 and gave the stock a "hold" rating in a report on Thursday, March 6th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price 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.