Man Group plc Has $102.17 Million Position in Veeva Systems Inc. (NYSE:VEEV)

Man Group plc lifted its holdings in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 89.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 485,951 shares of the technology company's stock after purchasing an additional 230,015 shares during the quarter. Man Group plc owned 0.30% of Veeva Systems worth $102,171,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Smith Group Asset Management LLC lifted its position in shares of Veeva Systems by 2.2% in the fourth quarter. Smith Group Asset Management LLC now owns 82,567 shares of the technology company's stock worth $17,360,000 after purchasing an additional 1,749 shares in the last quarter. Venturi Wealth Management LLC raised its position in Veeva Systems by 2,716.7% during the fourth quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company's stock worth $36,000 after acquiring an additional 163 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new stake in Veeva Systems in the fourth quarter valued at $3,525,000. AEGON ASSET MANAGEMENT UK Plc lifted its stake in Veeva Systems by 10.1% in the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 117,757 shares of the technology company's stock valued at $24,755,000 after acquiring an additional 10,836 shares during the last quarter. Finally, SYM FINANCIAL Corp acquired a new stake in Veeva Systems in the fourth quarter valued at $729,000. Institutional investors own 88.20% of the company's stock.

Insiders Place Their Bets

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,200 shares of the stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $220.97, for a total transaction of $265,164.00. Following the sale, the insider now directly owns 25,889 shares in the company, valued at $5,720,692.33. This represents a 4.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 transaction of $178,019.40. Following the completion of the sale, the senior vice president now 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. Insiders have sold 5,869 shares of company stock worth $1,284,917 over the last ninety days. Corporate insiders own 10.30% of the company's stock.

Veeva Systems Stock Performance

Shares of VEEV stock traded up $0.88 on Friday, hitting $242.48. The company's stock had a trading volume of 1,743,658 shares, compared to its average volume of 1,100,163. The stock's 50 day moving average is $228.63 and its 200-day moving average is $226.21. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93. The company has a market capitalization of $39.45 billion, a PE ratio of 59.87, a PEG ratio of 1.89 and a beta of 0.96.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on VEEV shares. JPMorgan Chase & Co. raised their target price on shares of Veeva Systems from $218.00 to $249.00 and gave the company a "neutral" rating in a research note on Thursday, March 20th. Piper Sandler reduced their price target on Veeva Systems from $290.00 to $255.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. KeyCorp reduced their price target on Veeva Systems from $260.00 to $250.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. StockNews.com upgraded Veeva Systems from a "hold" rating to a "buy" rating in a report on Monday, February 17th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $270.00 price objective on shares of Veeva Systems in a research report on Thursday, March 6th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus 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.