Veeva Systems Inc. (NYSE:VEEV) Shares Purchased by First Trust Advisors LP

First Trust Advisors LP grew its holdings in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 10.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 634,840 shares of the technology company's stock after buying an additional 59,567 shares during the quarter. First Trust Advisors LP owned approximately 0.39% of Veeva Systems worth $133,475,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in VEEV. Norges Bank purchased a new position in shares of Veeva Systems in the 4th quarter valued at approximately $294,785,000. Principal Financial Group Inc. boosted its holdings in shares of Veeva Systems by 138.9% during the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company's stock valued at $457,366,000 after buying an additional 1,267,061 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of 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 buying an additional 1,081,501 shares during the period. Wealthfront Advisers LLC lifted its position in Veeva Systems by 29,760.5% during the 4th quarter. Wealthfront Advisers LLC now owns 1,048,700 shares of the technology company's stock valued at $220,489,000 after acquiring an additional 1,045,188 shares during the period. Finally, Marshall Wace LLP grew its holdings in Veeva Systems by 413.3% in the fourth quarter. Marshall Wace LLP now owns 638,380 shares of the technology company's stock worth $134,219,000 after purchasing an additional 514,004 shares during the period. 88.20% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Timothy S. Cabral sold 3,882 shares of the company'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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Jonathan Faddis sold 787 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total value of $178,019.40. Following the completion of the sale, the senior vice president now directly owns 8,668 shares in the company, 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. In the last three months, insiders have sold 5,869 shares of company stock valued at $1,284,917. Company insiders own 10.50% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on VEEV. JPMorgan Chase & Co. boosted their price target on Veeva Systems from $218.00 to $249.00 and gave the stock a "neutral" rating in a research report on Thursday, March 20th. The Goldman Sachs Group cut Veeva Systems from a "buy" rating to a "sell" rating and cut their target price for the stock from $261.00 to $200.00 in a research note on Thursday, January 23rd. Morgan Stanley lifted their price target on Veeva Systems from $195.00 to $201.00 and gave the stock an "underweight" rating in a research report on Thursday, March 6th. Truist Financial increased their price objective on shares of Veeva Systems from $210.00 to $217.00 and gave the company a "hold" rating in a research report on Thursday, March 6th. Finally, Stephens reaffirmed an "overweight" rating and issued a $280.00 target price on shares of Veeva Systems in a report on Thursday, March 6th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $254.92.

Veeva Systems Stock Down 0.5 %

Shares of NYSE:VEEV traded down $1.24 during midday trading on Friday, reaching $226.47. The company's stock had a trading volume of 248,412 shares, compared to its average volume of 1,069,542. The stock has a fifty day moving average of $226.08 and a 200 day moving average of $223.73. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93. The firm has a market capitalization of $36.85 billion, a PE ratio of 55.92, a P/E/G ratio of 1.89 and a beta of 1.05.

Veeva Systems Company 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.