Fjarde AP Fonden Fourth Swedish National Pension Fund Raises Holdings in Veeva Systems Inc. (NYSE:VEEV)

Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 4.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 42,769 shares of the technology company’s stock after purchasing an additional 2,000 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Veeva Systems were worth $8,992,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB boosted its stake in Veeva Systems by 72.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock valued at $25,000 after purchasing an additional 50 shares during the last quarter. Centricity Wealth Management LLC purchased a new stake in Veeva Systems during the 4th quarter valued at $25,000. True Wealth Design LLC lifted its holdings in shares of Veeva Systems by 3,375.0% during the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock valued at $29,000 after buying an additional 135 shares during the period. Avion Wealth lifted its holdings in shares of Veeva Systems by 635.0% during the 4th quarter. Avion Wealth now owns 147 shares of the technology company’s stock valued at $30,000 after buying an additional 127 shares during the period. Finally, Retirement Wealth Solutions LLC bought a new position in shares of Veeva Systems during the 4th quarter valued at $31,000. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Bank of America increased their price target on Veeva Systems from $280.00 to $290.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Citigroup increased their price target on Veeva Systems from $281.00 to $307.00 and gave the company a “buy” rating in a report on Monday, December 9th. Morgan Stanley increased their price target on Veeva Systems from $183.00 to $195.00 and gave the company an “underweight” rating in a report on Tuesday, December 17th. Stifel Nicolaus increased their price target on Veeva Systems from $240.00 to $272.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, StockNews.com raised Veeva Systems from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $255.08.

Veeva Systems Stock Down 1.2 %

NYSE:VEEV opened at $226.10 on Monday. The business’s 50-day simple moving average is $223.76 and its two-hundred day simple moving average is $217.86. The stock has a market cap of $36.71 billion, a PE ratio of 55.83, a P/E/G ratio of 1.89 and a beta of 0.85. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems 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 sale, the senior vice president now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 10.50% of the company’s stock.

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.