Bank of America Corp DE Has $187.46 Million Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Bank of America Corp DE cut its stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 0.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 891,589 shares of the technology company's stock after selling 7,524 shares during the period. Bank of America Corp DE owned 0.55% of Veeva Systems worth $187,457,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Veeva Systems by 3.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,169,698 shares of the technology company's stock valued at $1,086,930,000 after acquiring an additional 177,201 shares in the last quarter. FMR LLC grew its position in Veeva Systems by 7.8% in the fourth quarter. FMR LLC now owns 3,213,360 shares of the technology company's stock valued at $675,609,000 after acquiring an additional 232,116 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Veeva Systems by 17.5% in the fourth quarter. JPMorgan Chase & Co. now owns 3,005,633 shares of the technology company's stock valued at $631,935,000 after purchasing an additional 447,041 shares during the period. Principal Financial Group Inc. increased its stake in Veeva Systems by 36.0% during the 4th quarter. Principal Financial Group Inc. now owns 2,964,025 shares of the technology company's stock worth $623,186,000 after buying an additional 784,741 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Veeva Systems by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 2,803,344 shares of the technology company's stock worth $589,208,000 after buying an additional 38,108 shares in the last quarter. Hedge funds and other institutional investors own 88.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Morgan Stanley lifted their target price on Veeva Systems from $195.00 to $201.00 and gave the stock an "underweight" rating in a research report on Thursday, March 6th. Scotiabank lifted their price objective on Veeva Systems from $240.00 to $245.00 and gave the stock a "sector perform" rating in a report on Thursday, March 6th. StockNews.com upgraded Veeva Systems from a "hold" rating to a "buy" rating in a research note on Monday, February 17th. Piper Sandler dropped their price target on shares of Veeva Systems from $290.00 to $255.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Finally, 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. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $254.92.

Insider Buying and Selling at Veeva Systems

In related news, SVP Jonathan Faddis sold 787 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total transaction of $178,019.40. Following the completion of the sale, the senior vice president now directly owns 8,668 shares in the company, valued at approximately $1,960,701.60. This trade represents a 8.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas D. Schwenger sold 1,200 shares of the business'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 transaction, 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,869 shares of company stock valued at $1,284,917. Corporate insiders own 10.50% of the company's stock.

Veeva Systems Trading Down 1.2 %

Shares of NYSE VEEV traded down $2.93 during midday trading on Friday, reaching $236.60. The company's stock had a trading volume of 977,455 shares, compared to its average volume of 1,085,187. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93. The company has a market cap of $38.49 billion, a price-to-earnings ratio of 58.42, a price-to-earnings-growth ratio of 1.89 and a beta of 0.96. The company has a 50 day moving average price of $227.98 and a 200 day moving average price of $225.39.

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.