Teza Capital Management LLC Boosts Holdings in Veeva Systems Inc. (NYSE:VEEV)

Teza Capital Management LLC increased its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 17.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,371 shares of the technology company's stock after purchasing an additional 2,570 shares during the period. Teza Capital Management LLC's holdings in Veeva Systems were worth $3,652,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of VEEV. Barclays PLC lifted its stake in shares of Veeva Systems by 18.2% in the third quarter. Barclays PLC now owns 185,206 shares of the technology company's stock valued at $38,870,000 after buying an additional 28,497 shares in the last quarter. JPMorgan Chase & Co. lifted 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 valued at $536,972,000 after acquiring an additional 1,081,501 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in Veeva Systems by 182.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 60,072 shares of the technology company's stock valued at $12,630,000 after acquiring an additional 38,793 shares in the last quarter. Park Avenue Securities LLC boosted its stake in Veeva Systems by 1.9% during the 4th quarter. Park Avenue Securities LLC now owns 12,228 shares of the technology company's stock valued at $2,571,000 after purchasing an additional 233 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in Veeva Systems by 71.5% during the 4th 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. Institutional investors and hedge funds own 88.20% of the company's stock.

Insiders Place Their Bets

In related news, SVP Jonathan Faddis sold 787 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was 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. This represents a 8.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Timothy S. Cabral sold 3,882 shares of the firm'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 transaction, the director now owns 5,500 shares of the company's stock, valued at approximately $1,192,565. This represents a 41.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,869 shares of company stock worth $1,284,917 over the last quarter. 10.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently commented on VEEV shares. KeyCorp lowered their price objective on Veeva Systems from $260.00 to $250.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Stephens reissued an "overweight" rating and issued a $280.00 price target on shares of Veeva Systems in a research report on Thursday, March 6th. Scotiabank raised their price objective on Veeva Systems from $240.00 to $245.00 and gave the company a "sector perform" rating in a research note on Thursday, March 6th. The Goldman Sachs Group downgraded shares of Veeva Systems from a "buy" rating to a "sell" rating and cut their price objective for the stock from $261.00 to $200.00 in a report on Thursday, January 23rd. Finally, Truist Financial increased their target price on shares of Veeva Systems from $210.00 to $217.00 and gave the company a "hold" rating in a report on Thursday, March 6th. Two investment 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 stock currently has a consensus rating of "Moderate Buy" and an average target price of $254.92.

Veeva Systems Stock Performance

NYSE:VEEV traded down $2.00 during trading hours on Friday, reaching $233.53. The stock had a trading volume of 340,568 shares, compared to its average volume of 1,109,211. The stock has a market cap of $37.99 billion, a P/E ratio of 57.71, a price-to-earnings-growth ratio of 1.89 and a beta of 0.96. The stock has a 50 day simple moving average of $229.00 and a 200 day simple moving average of $226.91. Veeva Systems Inc. has a 12-month low of $170.25 and a 12-month high of $258.93.

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.