BI Asset Management Fondsmaeglerselskab A S Purchases 3,070 Shares of Veeva Systems Inc. (NYSE:VEEV)

BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 78.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,985 shares of the technology company's stock after buying an additional 3,070 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Veeva Systems were worth $1,469,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. MassMutual Private Wealth & Trust FSB lifted its stake in Veeva Systems by 72.5% during the fourth 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. Centricity Wealth Management LLC purchased a new position in shares of Veeva Systems during the 4th quarter valued at about $25,000. Smithfield Trust Co lifted its position in Veeva Systems by 145.5% in the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company's stock worth $27,000 after buying an additional 80 shares during the last quarter. Retirement Wealth Solutions LLC purchased a new stake in Veeva Systems in the fourth quarter worth approximately $31,000. Finally, Avion Wealth grew its position in Veeva Systems by 635.0% during the fourth quarter. Avion Wealth now owns 147 shares of the technology company's stock valued at $30,000 after acquiring an additional 127 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Truist Financial increased their target price on shares of Veeva Systems from $210.00 to $217.00 and gave the company a "hold" rating in a report on Thursday, March 6th. StockNews.com upgraded Veeva Systems from a "hold" rating to a "buy" rating in a report on Monday, February 17th. Piper Sandler decreased their price target on Veeva Systems from $290.00 to $255.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. KeyCorp cut their target price on shares of Veeva Systems from $260.00 to $250.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $270.00 price target on shares of Veeva Systems in a 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 given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $254.92.

Veeva Systems Price Performance

Veeva Systems stock traded down $1.87 during mid-day trading on Monday, reaching $225.67. The stock had a trading volume of 134,886 shares, compared to its average volume of 1,069,699. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93. The company has a 50-day moving average price of $225.97 and a two-hundred day moving average price of $224.10. The company has a market capitalization of $36.72 billion, a price-to-earnings ratio of 55.70, a PEG ratio of 1.89 and a beta of 1.05.

Insiders Place Their Bets

In other news, SVP Jonathan Faddis sold 787 shares of the business'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 transaction, the senior vice president now directly owns 8,668 shares of the company's stock, valued at $1,960,701.60. The trade was a 8.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Timothy S. Cabral sold 3,882 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $216.83, for a total transaction of $841,734.06. Following the completion of the sale, the director now owns 5,500 shares in the company, valued at $1,192,565. This represents a 41.38 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,869 shares of company stock valued at $1,284,917. Insiders own 10.50% of the company's stock.

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.