Avanza Fonder AB Invests $2.30 Million in Veeva Systems Inc. (NYSE:VEEV)

Avanza Fonder AB acquired a new stake in shares of Veeva Systems Inc. (NYSE:VEEV) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 10,935 shares of the technology company’s stock, valued at approximately $2,299,000.

A number of other hedge funds also recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its position in shares of Veeva Systems by 26.2% in the second quarter. Dimensional Fund Advisors LP now owns 378,380 shares of the technology company’s stock valued at $69,259,000 after purchasing an additional 78,654 shares in the last quarter. Amalgamated Bank grew its holdings in Veeva Systems by 2.1% in the 2nd quarter. Amalgamated Bank now owns 9,968 shares of the technology company’s stock valued at $1,824,000 after buying an additional 201 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in shares of Veeva Systems by 8.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,388 shares of the technology company’s stock worth $1,901,000 after acquiring an additional 819 shares during the last quarter. Hsbc Holdings PLC raised its holdings in shares of Veeva Systems by 30.7% during the 2nd quarter. Hsbc Holdings PLC now owns 148,502 shares of the technology company’s stock worth $27,202,000 after acquiring an additional 34,896 shares during the period. Finally, GM Advisory Group LLC grew its holdings in shares of Veeva Systems by 20.8% in the second quarter. GM Advisory Group LLC now owns 1,219 shares of the technology company’s stock valued at $223,000 after purchasing an additional 210 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Trading Up 0.9 %

Shares of NYSE:VEEV opened at $216.67 on Friday. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93. The company’s 50 day moving average is $222.31 and its two-hundred day moving average is $209.47. The company has a market cap of $35.18 billion, a PE ratio of 53.50, a P/E/G ratio of 1.91 and a beta of 0.84.

Insider Activity at Veeva Systems

In other news, SVP Jonathan Faddis sold 1,694 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total value of $390,128.20. Following the completion of the transaction, the senior vice president now owns 8,061 shares in the company, valued at approximately $1,856,448.30. This represents a 17.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Thomas D. Schwenger sold 1,126 shares of Veeva Systems stock in a transaction on Friday, November 8th. The stock was sold at an average price of $240.01, for a total transaction of $270,251.26. Following the sale, the insider now owns 27,013 shares in the company, valued at $6,483,390.13. This represents a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on VEEV. Needham & Company LLC reaffirmed a “buy” rating and set a $270.00 target price on shares of Veeva Systems in a research note on Friday. Guggenheim upped their price objective on Veeva Systems from $233.00 to $249.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Royal Bank of Canada raised their target price on Veeva Systems from $275.00 to $285.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Piper Sandler lifted their target price on Veeva Systems from $280.00 to $290.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Finally, Robert W. Baird increased their price target on Veeva Systems from $275.00 to $283.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $255.74.

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.