Financiere des Professionnels Fonds d investissement inc. Has $5.84 Million Position in Veeva Systems Inc. $VEEV

Key Points

• Financiere des Professionnels Fonds d investissement inc. increased its holdings in Veeva Systems by 90.2%, owning a total of 20,293 shares valued at approximately $5.84 million as of the latest filing.
• Analysts have set new target prices for Veeva Systems, with estimates ranging from $275 to $340, reflecting a consensus price target of $301.48.
• Insiders sold a total of 1,063 shares of Veeva Systems stock in the last 90 days, with directors and senior vice presidents reducing their stakes by approximately 3.99% and 8.35%, respectively.

Financiere des Professionnels Fonds d investissement inc. raised its stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 90.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,293 shares of the technology company's stock after buying an additional 9,623 shares during the quarter. Financiere des Professionnels Fonds d investissement inc.'s holdings in Veeva Systems were worth $5,844,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in VEEV. Janus Henderson Group PLC raised its position in shares of Veeva Systems by 7.0% in the 4th quarter. Janus Henderson Group PLC now owns 14,788 shares of the technology company's stock worth $3,109,000 after buying an additional 964 shares during the period. Quantinno Capital Management LP boosted its position in shares of Veeva Systems by 56.1% during the fourth quarter. Quantinno Capital Management LP now owns 8,356 shares of the technology company's stock worth $1,757,000 after buying an additional 3,004 shares during the period. Rafferty Asset Management LLC raised its holdings in Veeva Systems by 21.1% during the fourth quarter. Rafferty Asset Management LLC now owns 9,348 shares of the technology company's stock worth $1,965,000 after purchasing an additional 1,627 shares in the last quarter. Two Sigma Investments LP raised its stake in Veeva Systems by 31.2% during the 4th quarter. Two Sigma Investments LP now owns 344,540 shares of the technology company's stock valued at $72,440,000 after purchasing an additional 81,850 shares during the period. Finally, Vident Advisory LLC increased its stake in shares of Veeva Systems by 27.9% in the fourth quarter. Vident Advisory LLC now owns 2,752 shares of the technology company's stock worth $579,000 after acquiring an additional 601 shares during the last quarter. Hedge funds and other institutional investors own 88.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on VEEV shares. Evercore ISI upped their price objective on shares of Veeva Systems from $285.00 to $295.00 and gave the company an "in-line" rating in a research report on Thursday, August 28th. Citigroup lifted their price target on shares of Veeva Systems from $329.00 to $349.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. Oppenheimer restated an "outperform" rating and set a $325.00 price objective on shares of Veeva Systems in a report on Thursday, August 28th. BTIG Research lifted their price target on shares of Veeva Systems from $335.00 to $340.00 and gave the company a "buy" rating in a research note on Thursday, August 28th. Finally, Piper Sandler lifted their price target on shares of Veeva Systems from $325.00 to $355.00 and gave the company an "overweight" rating in a research note on Thursday, August 28th. Seventeen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $301.48.

Veeva Systems Stock Performance

Shares of VEEV stock traded down $2.10 during midday trading on Friday, hitting $276.98. 2,339,568 shares of the company were exchanged, compared to its average volume of 1,332,591. The firm has a market capitalization of $45.40 billion, a P/E ratio of 56.87, a PEG ratio of 2.13 and a beta of 0.95. The firm's 50 day moving average price is $280.63 and its two-hundred day moving average price is $258.58. Veeva Systems Inc. has a 52 week low of $200.30 and a 52 week high of $296.72.

Insider Activity

In related news, Director Priscilla Hung sold 171 shares of Veeva Systems stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $284.40, for a total transaction of $48,632.40. Following the completion of the sale, the director owned 3,966 shares of the company's stock, valued at approximately $1,127,930.40. The trade was a 4.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Jonathan Faddis sold 720 shares of the business's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $285.62, for a total transaction of $205,646.40. Following the completion of the sale, the senior vice president directly owned 7,902 shares of the company's stock, valued at $2,256,969.24. This represents a 8.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,063 shares of company stock valued at $302,955 in the last ninety days. 10.30% of the stock is currently owned by insiders.

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.