Northern Trust Corp Has $211.13 Million Position in Veeva Systems Inc. (NYSE:VEEV)

Northern Trust Corp increased its holdings in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 12.6% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,004,186 shares of the technology company's stock after acquiring an additional 112,758 shares during the period. Northern Trust Corp owned approximately 0.62% of Veeva Systems worth $211,130,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Veeva Systems by 72.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company's stock valued at $25,000 after buying an additional 50 shares in the last quarter. Centricity Wealth Management LLC acquired a new stake in Veeva Systems during the 4th quarter worth $25,000. Smithfield Trust Co increased its stake in Veeva Systems by 145.5% in the fourth quarter. Smithfield Trust Co now owns 135 shares of the technology company's stock valued at $27,000 after purchasing an additional 80 shares during the period. Avion Wealth raised its holdings in shares of Veeva Systems by 635.0% in the fourth quarter. Avion Wealth now owns 147 shares of the technology company's stock valued at $30,000 after buying an additional 127 shares during the last quarter. Finally, Retirement Wealth Solutions LLC purchased a new stake in shares of Veeva Systems in the fourth quarter valued at about $31,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Veeva Systems

In related news, SVP Jonathan Faddis sold 787 shares of the business's stock in a transaction 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 transaction, 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Thomas D. Schwenger sold 1,200 shares of the firm's stock in a transaction on Monday, April 14th. The stock was 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 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 disclosure for this sale can be found here. In the last three months, insiders have sold 5,869 shares of company stock worth $1,284,917. 10.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Piper Sandler lowered their target price on shares of Veeva Systems from $290.00 to $255.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. KeyCorp decreased their price target on Veeva Systems from $260.00 to $250.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. StockNews.com upgraded shares of Veeva Systems from a "hold" rating to a "buy" rating in a research report on Monday, February 17th. Robert W. Baird raised their price objective on shares of Veeva Systems from $283.00 to $285.00 and gave the company an "outperform" rating in a research note on Thursday, March 6th. Finally, Scotiabank upped their target price on shares of Veeva Systems from $240.00 to $245.00 and gave the stock a "sector perform" rating in a research report on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $254.92.

Veeva Systems Trading Down 1.5 %

Veeva Systems stock traded down $3.56 during trading hours on Tuesday, reaching $233.43. 414,290 shares of the company were exchanged, compared to its average volume of 1,075,021. Veeva Systems Inc. has a 12 month low of $170.25 and a 12 month high of $258.93. The stock has a 50-day moving average of $226.72 and a 200 day moving average of $224.87. The firm has a market cap of $37.98 billion, a price-to-earnings ratio of 57.72, a PEG ratio of 1.89 and a beta of 1.05.

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.