Veeva Systems Inc. (NYSE:VEEV) Shares Bought by B. Metzler seel. Sohn & Co. AG

B. Metzler seel. Sohn & Co. AG boosted its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 17.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,006 shares of the technology company’s stock after buying an additional 1,019 shares during the quarter. B. Metzler seel. Sohn & Co. AG’s holdings in Veeva Systems were worth $1,473,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Norges Bank purchased a new position in shares of Veeva Systems during the 4th quarter worth approximately $294,785,000. Principal Financial Group Inc. lifted its stake in Veeva Systems by 138.9% during the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock worth $457,366,000 after purchasing an additional 1,267,061 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Veeva Systems by 73.2% during the third quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company’s stock worth $536,972,000 after buying an additional 1,081,501 shares during the period. Wealthfront Advisers LLC grew its stake in shares of Veeva Systems by 29,760.5% in the fourth quarter. Wealthfront Advisers LLC now owns 1,048,700 shares of the technology company’s stock valued at $220,489,000 after buying an additional 1,045,188 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Veeva Systems in the 4th quarter valued at $95,710,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Stock Performance

Veeva Systems stock opened at $226.51 on Thursday. The company has a market capitalization of $36.85 billion, a P/E ratio of 55.93, a PEG ratio of 1.89 and a beta of 0.88. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93. The stock has a 50-day simple moving average of $231.96 and a 200-day simple moving average of $223.04.

Insiders Place Their Bets

In other Veeva Systems news, SVP Jonathan Faddis sold 787 shares of the firm’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 transaction, the senior vice president now directly owns 8,668 shares of the company’s stock, valued at approximately $1,960,701.60. This trade represents a 8.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 10.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on VEEV shares. Stifel Nicolaus raised their target price on Veeva Systems from $240.00 to $272.00 and gave the company a “buy” rating in a report on Friday, December 6th. Stephens reissued an “overweight” rating and issued a $280.00 price objective on shares of Veeva Systems in a research note on Thursday, March 6th. JPMorgan Chase & Co. upped their target price on shares of Veeva Systems from $218.00 to $249.00 and gave the stock a “neutral” rating in a research note on Thursday, March 20th. Royal Bank of Canada raised their price target on shares of Veeva Systems from $275.00 to $285.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Finally, Morgan Stanley upped their price objective on Veeva Systems from $195.00 to $201.00 and gave the stock an “underweight” rating in a research 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 issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $256.52.

About Veeva Systems

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.