Veeva Systems Inc. (NYSE:VEEV) Stock Holdings Increased by Centiva Capital LP

Centiva Capital LP raised its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 24.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,428 shares of the technology company's stock after acquiring an additional 2,464 shares during the quarter. Centiva Capital LP's holdings in Veeva Systems were worth $2,613,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Cardinal Capital Management raised its stake in Veeva Systems by 0.3% in 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 during the period. Johnson Financial Group Inc. boosted its holdings in Veeva Systems by 22.7% in the fourth quarter. Johnson Financial Group Inc. now owns 238 shares of the technology company's stock valued at $56,000 after acquiring an additional 44 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Veeva Systems by 72.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company's stock valued at $25,000 after acquiring an additional 50 shares in the last quarter. Patriot Financial Group Insurance Agency LLC boosted its position in 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 worth $1,467,000 after purchasing an additional 51 shares during the last quarter. Finally, 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 in the last quarter. 88.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on VEEV shares. Piper Sandler lowered their price target on Veeva Systems from $290.00 to $255.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Stephens reissued an "overweight" rating and set a $280.00 target price on shares of Veeva Systems in a research note on Thursday, March 6th. KeyCorp decreased their price objective on Veeva Systems from $260.00 to $250.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Truist Financial upped their target price on shares of Veeva Systems from $210.00 to $217.00 and gave the stock a "hold" rating in a research note on Thursday, March 6th. Finally, Robert W. Baird increased their price target on shares of Veeva Systems from $283.00 to $285.00 and gave the stock an "outperform" rating in a report on Thursday, March 6th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, Veeva Systems currently has an average rating of "Moderate Buy" and a consensus price target of $254.92.

Insider Activity

In related news, insider Thomas D. Schwenger sold 1,200 shares of the firm's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $220.97, for a total value 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 trade represents a 4.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 sale, the senior vice president now directly owns 8,668 shares of the company's stock, valued at $1,960,701.60. This represents a 8.32 % 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 currently owned by corporate insiders.

Veeva Systems Stock Performance

NYSE:VEEV opened at $236.93 on Tuesday. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93. The firm has a market cap of $38.55 billion, a PE ratio of 58.50, a price-to-earnings-growth ratio of 1.89 and a beta of 1.05. The business has a 50 day moving average price of $226.72 and a 200-day moving average price of $224.87.

Veeva Systems Company 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.

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