Price T Rowe Associates Inc. MD Boosts Stake in Veeva Systems Inc. (NYSE:VEEV)

Price T Rowe Associates Inc. MD grew its stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 0.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,302,672 shares of the technology company's stock after acquiring an additional 4,541 shares during the period. Price T Rowe Associates Inc. MD owned about 2.03% of Veeva Systems worth $694,388,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB raised its position in Veeva Systems by 72.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company's stock valued at $25,000 after purchasing an additional 50 shares in the last quarter. Centricity Wealth Management LLC bought a new stake in shares of Veeva Systems in the fourth quarter valued at about $25,000. Smithfield Trust Co lifted 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 worth $27,000 after acquiring an additional 80 shares during the period. Avion Wealth grew its holdings in Veeva Systems by 635.0% during the 4th quarter. Avion Wealth now owns 147 shares of the technology company's stock worth $30,000 after acquiring an additional 127 shares in the last quarter. Finally, Retirement Wealth Solutions LLC purchased a new position in Veeva Systems during the 4th quarter valued at about $31,000. Hedge funds and other 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 that occurred 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 transaction, the insider now owns 25,889 shares of the company's stock, valued at $5,720,692.33. This represents a 4.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Timothy S. Cabral sold 3,882 shares of Veeva Systems stock in a transaction that occurred on 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 sale, the director now directly owns 5,500 shares in the company, valued at $1,192,565. This represents a 41.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,869 shares of company stock worth $1,284,917. Corporate insiders own 10.50% of the company's stock.

Veeva Systems Stock Down 0.8 %

Shares of VEEV traded down $1.90 during mid-day trading on Wednesday, reaching $229.74. The company had a trading volume of 239,561 shares, compared to its average volume of 1,071,167. The stock has a 50 day moving average of $225.96 and a two-hundred day moving average of $224.26. The stock has a market capitalization of $37.38 billion, a P/E ratio of 56.63, 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.

Analyst Ratings Changes

VEEV has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their price objective 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. Truist Financial boosted their price target on Veeva Systems from $210.00 to $217.00 and gave the stock a "hold" rating in a research report on Thursday, March 6th. Needham & Company LLC reaffirmed a "buy" rating and set a $270.00 price objective on shares of Veeva Systems in a research report on Thursday, March 6th. Piper Sandler reduced their target price on shares of Veeva Systems from $290.00 to $255.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Finally, Morgan Stanley lifted their price objective on shares of Veeva Systems from $195.00 to $201.00 and gave the stock an "underweight" rating in a research report on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, Veeva Systems presently has an average rating of "Moderate Buy" and an average target price of $254.92.

About Veeva Systems

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.