Sterling Capital Management LLC raised its stake in shares of Veeva Systems Inc (NYSE:VEEV) by 6.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 88,859 shares of the technology company’s stock after acquiring an additional 5,324 shares during the period. Sterling Capital Management LLC owned about 0.06% of Veeva Systems worth $4,912,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Cerebellum GP LLC bought a new position in Veeva Systems during the 4th quarter valued at $129,000. American International Group Inc. bought a new position in Veeva Systems during the 4th quarter valued at $142,000. Northwestern Mutual Wealth Management Co. lifted its stake in Veeva Systems by 154.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,176 shares of the technology company’s stock valued at $176,000 after acquiring an additional 1,927 shares in the last quarter. Van Hulzen Asset Management LLC bought a new position in Veeva Systems during the 3rd quarter valued at $204,000. Finally, HL Financial Services LLC bought a new position in Veeva Systems during the 4th quarter valued at $210,000. Institutional investors and hedge funds own 73.09% of the company’s stock.
Veeva Systems Inc (NYSE VEEV) opened at $75.08 on Friday. The firm has a market capitalization of $10,784.47, a PE ratio of 80.73, a price-to-earnings-growth ratio of 4.59 and a beta of 1.46. Veeva Systems Inc has a twelve month low of $48.56 and a twelve month high of $78.28.
VEEV has been the topic of a number of recent analyst reports. Canaccord Genuity reiterated a “buy” rating and set a $70.00 target price on shares of Veeva Systems in a research note on Wednesday, December 6th. DA Davidson initiated coverage on Veeva Systems in a research note on Friday, February 2nd. They set a “buy” rating and a $75.00 target price on the stock. Stifel Nicolaus lifted their target price on Veeva Systems from $67.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Vetr cut Veeva Systems from a “buy” rating to a “hold” rating and set a $61.05 target price on the stock. in a research note on Thursday, February 15th. Finally, JPMorgan Chase & Co. cut Veeva Systems from an “overweight” rating to a “neutral” rating in a research note on Friday, March 9th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $72.23.
In other Veeva Systems news, Director Timothy C. Barabe sold 1,993 shares of Veeva Systems stock in a transaction dated Thursday, March 8th. The stock was sold at an average price of $78.16, for a total transaction of $155,772.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Frederic Lequient sold 15,000 shares of Veeva Systems stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $62.00, for a total value of $930,000.00. Following the transaction, the senior vice president now directly owns 15,000 shares of the company’s stock, valued at approximately $930,000. The disclosure for this sale can be found here. Insiders have sold a total of 209,723 shares of company stock valued at $14,864,133 in the last ninety days. Insiders own 19.17% of the company’s stock.
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Veeva Systems Company Profile
Veeva Systems Inc (Veeva) is a provider of cloud-based software solutions for the global life sciences industry. The Company offers solutions for a range of requirements within life sciences companies, including multichannel customer relationship management, regulated content and information management, master data management and customer data.
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