Ontario Teachers Pension Plan Board Raises Holdings in Veeva Systems Inc. (NYSE:VEEV)

Ontario Teachers Pension Plan Board increased its stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 148.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,162 shares of the technology company's stock after acquiring an additional 5,470 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Veeva Systems were worth $1,926,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of VEEV. Cardinal Capital Management lifted its stake in Veeva Systems by 0.3% during the 4th quarter. Cardinal Capital Management now owns 15,727 shares of the technology company's stock valued at $3,307,000 after acquiring an additional 44 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in shares of Veeva Systems by 72.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company's stock worth $25,000 after purchasing an additional 50 shares during the last quarter. Patriot Financial Group Insurance Agency LLC raised its stake in shares of Veeva Systems by 0.7% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 6,975 shares of the technology company's stock valued at $1,467,000 after buying an additional 51 shares during the period. CHICAGO TRUST Co NA lifted its holdings in Veeva Systems by 2.9% during the fourth quarter. CHICAGO TRUST Co NA now owns 1,880 shares of the technology company's stock valued at $395,000 after purchasing an additional 53 shares during the last quarter. Finally, Old North State Wealth Management LLC lifted its stake in shares of Veeva Systems by 0.4% during the 4th quarter. Old North State Wealth Management LLC now owns 15,351 shares of the technology company's stock valued at $3,228,000 after buying an additional 55 shares in the last quarter. 88.20% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Timothy S. Cabral sold 3,882 shares of the stock in a transaction on Friday, April 4th. The shares were sold at an average price of $216.83, for a total value of $841,734.06. Following the completion of the sale, the director now directly owns 5,500 shares of the company's stock, valued at $1,192,565. This represents a 41.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Jonathan Faddis sold 787 shares of Veeva Systems 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 in the company, valued at approximately $1,960,701.60. This trade represents a 8.32 % decrease in their position. 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. 10.50% of the stock is owned by company insiders.

Veeva Systems Trading Down 1.5 %

VEEV stock traded down $3.20 during midday trading on Monday, reaching $212.76. 197,863 shares of the company's stock traded hands, compared to its average volume of 1,062,695. The stock's 50-day moving average is $227.31 and its 200 day moving average is $223.59. The stock has a market cap of $34.61 billion, a P/E ratio of 52.53, a PEG ratio of 1.89 and a beta of 1.05. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93.

Wall Street Analyst Weigh In

VEEV has been the subject of a number of recent analyst reports. Needham & Company LLC reaffirmed a "buy" rating and set a $270.00 target price on shares of Veeva Systems in a report on Thursday, March 6th. StockNews.com raised Veeva Systems from a "hold" rating to a "buy" rating in a research note on Monday, February 17th. Robert W. Baird upped their target price on Veeva Systems from $283.00 to $285.00 and gave the stock an "outperform" rating in a research note on Thursday, March 6th. Stephens reiterated an "overweight" rating and set a $280.00 price target on shares of Veeva Systems in a research report on Thursday, March 6th. Finally, Truist Financial raised their target price on shares of Veeva Systems from $210.00 to $217.00 and gave the company a "hold" rating in a research note on Thursday, March 6th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $256.32.

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.