Allianz Asset Management GmbH grew its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 31.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 548,493 shares of the technology company's stock after purchasing an additional 132,633 shares during the period. Allianz Asset Management GmbH owned about 0.34% of Veeva Systems worth $115,321,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Cardinal Capital Management raised its holdings in shares of Veeva Systems by 0.3% in the fourth quarter. Cardinal Capital Management now owns 15,727 shares of the technology company's stock valued at $3,307,000 after purchasing an additional 44 shares during the last quarter. Patriot Financial Group Insurance Agency LLC increased its holdings in Veeva Systems by 0.7% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 6,924 shares of the technology company's stock worth $1,453,000 after buying an additional 48 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. increased its holdings in Veeva Systems by 1.2% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,307 shares of the technology company's stock worth $904,000 after buying an additional 50 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in Veeva Systems by 72.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company's stock worth $25,000 after buying an additional 50 shares during the last quarter. Finally, CHICAGO TRUST Co NA increased its holdings in Veeva Systems by 2.9% during the fourth quarter. CHICAGO TRUST Co NA now owns 1,880 shares of the technology company's stock worth $395,000 after buying an additional 53 shares during the last quarter. Hedge funds and other institutional investors own 88.20% of the company's stock.
In related news, SVP Jonathan Faddis sold 1,694 shares of the business'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 sale, the senior vice president now owns 8,061 shares of the company's stock, valued at approximately $1,856,448.30. The trade was a 17.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.50% of the stock is owned by company insiders.
A number of research firms recently issued reports on VEEV. Scotiabank raised their price objective on shares of Veeva Systems from $235.00 to $240.00 and gave the stock a "sector perform" rating in a report on Friday, December 6th. Stephens began coverage on shares of Veeva Systems in a report on Friday, December 20th. They set an "overweight" rating and a $280.00 price objective for the company. KeyCorp decreased their price objective on shares of Veeva Systems from $285.00 to $255.00 and set an "overweight" rating for the company in a report on Wednesday, January 8th. Barclays lifted their target price on shares of Veeva Systems from $260.00 to $275.00 and gave the stock an "overweight" rating in a research note on Friday, December 6th. Finally, Royal Bank of Canada lifted their target price on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an "outperform" rating in a research note on Friday, December 6th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Veeva Systems has a consensus rating of "Moderate Buy" and a consensus target price of $253.96.
View Our Latest Report on VEEV
Shares of Veeva Systems stock traded down $2.64 on Friday, reaching $226.10. 940,179 shares of the stock were exchanged, compared to its average volume of 828,883. The business has a 50 day moving average price of $223.76 and a two-hundred day moving average price of $217.39. The firm has a market capitalization of $36.71 billion, a price-to-earnings ratio of 55.83, a PEG ratio of 1.89 and a beta of 0.85. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93.
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.
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