Versor Investments LP Grows Holdings in Veeva Systems Inc. (NYSE:VEEV)

Versor Investments LP grew its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 149.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,484 shares of the technology company’s stock after purchasing an additional 3,883 shares during the period. Versor Investments LP’s holdings in Veeva Systems were worth $1,363,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its position in Veeva Systems by 64.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company’s stock worth $744,084,000 after acquiring an additional 1,392,256 shares during the last quarter. State Street Corp boosted its holdings in shares of Veeva Systems by 1.5% during the third quarter. State Street Corp now owns 3,293,141 shares of the technology company’s stock worth $691,132,000 after purchasing an additional 47,872 shares during the last quarter. FMR LLC boosted its holdings in shares of Veeva Systems by 25.7% during the third quarter. FMR LLC now owns 2,981,244 shares of the technology company’s stock worth $625,674,000 after purchasing an additional 610,021 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Veeva Systems by 36.0% in the fourth quarter. Principal Financial Group Inc. now owns 2,964,025 shares of the technology company’s stock valued at $623,186,000 after purchasing an additional 784,741 shares during the period. Finally, Geode Capital Management LLC lifted its position in Veeva Systems by 5.7% during the third quarter. Geode Capital Management LLC now owns 2,765,236 shares of the technology company’s stock worth $579,630,000 after buying an additional 149,807 shares during the period. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Veeva Systems

In related news, SVP Jonathan Faddis sold 1,694 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total transaction of $390,128.20. Following the completion of the transaction, the senior vice president now owns 8,061 shares of the company’s stock, valued at $1,856,448.30. This trade represents a 17.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 10.50% of the company’s stock.

Veeva Systems Stock Up 2.8 %

VEEV stock opened at $227.64 on Thursday. The company has a market capitalization of $36.96 billion, a P/E ratio of 56.21, a PEG ratio of 1.89 and a beta of 0.85. The company has a 50-day simple moving average of $223.82 and a 200 day simple moving average of $218.46. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Stifel Nicolaus raised their target price on shares of Veeva Systems from $240.00 to $272.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Stephens began coverage on Veeva Systems in a report on Friday, December 20th. They set an “overweight” rating and a $280.00 target price for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $270.00 price target on shares of Veeva Systems in a research note on Friday, January 17th. Canaccord Genuity Group raised their target price on Veeva Systems from $210.00 to $270.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Finally, JPMorgan Chase & Co. boosted their price target on Veeva Systems from $208.00 to $218.00 and gave the stock a “neutral” rating in a research note on Monday, December 16th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, Veeva Systems currently has an average rating of “Moderate Buy” and an average target price of $255.08.

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.