Aviva PLC Acquires 78,927 Shares of Veeva Systems Inc. (NYSE:VEEV)

Aviva PLC raised its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 485.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 95,190 shares of the technology company’s stock after acquiring an additional 78,927 shares during the period. Aviva PLC owned approximately 0.06% of Veeva Systems worth $20,014,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in VEEV. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Veeva Systems by 72.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock worth $25,000 after acquiring an additional 50 shares during the period. Centricity Wealth Management LLC purchased a new position in Veeva Systems in the fourth quarter worth about $25,000. Smithfield Trust Co grew its stake in shares of Veeva Systems by 145.5% during the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock valued at $27,000 after purchasing an additional 80 shares during the period. Avion Wealth increased its position 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 purchasing an additional 127 shares during the last quarter. Finally, Retirement Wealth Solutions LLC bought a new position in shares of Veeva Systems in the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Up 0.5 %

Veeva Systems stock opened at $214.71 on Tuesday. The company’s 50-day moving average price is $231.52 and its 200-day moving average price is $223.12. The company has a market cap of $34.93 billion, a PE ratio of 53.01, a price-to-earnings-growth ratio of 1.89 and a beta of 1.05. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93.

Insider Buying and Selling

In related news, SVP Jonathan Faddis sold 787 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total value 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 $1,960,701.60. This trade represents a 8.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 10.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on VEEV shares. Scotiabank boosted their target price on shares of Veeva Systems from $240.00 to $245.00 and gave the company a “sector perform” rating in a research report on Thursday, March 6th. Robert W. Baird upped their price objective on Veeva Systems from $283.00 to $285.00 and gave the stock an “outperform” rating in a research note on Thursday, March 6th. Citigroup lifted their target price on Veeva Systems from $281.00 to $307.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Morgan Stanley boosted their price target on Veeva Systems from $195.00 to $201.00 and gave the company an “underweight” rating in a report on Thursday, March 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $270.00 price objective on shares of Veeva Systems in a research report on Thursday, March 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $256.52.

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.