R Squared Ltd Takes $119,000 Position in Veeva Systems Inc. (NYSE:VEEV)

R Squared Ltd bought a new position in shares of Veeva Systems Inc. (NYSE:VEEV) in the 4th quarter, Holdings Channel.com reports. The fund bought 566 shares of the technology company’s stock, valued at approximately $119,000.

Several other large investors also recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA grew its stake in shares of Veeva Systems by 64.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company’s stock worth $744,084,000 after purchasing an additional 1,392,256 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Veeva Systems by 138.9% during the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock worth $457,366,000 after buying an additional 1,267,061 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Veeva Systems by 73.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company’s stock worth $536,972,000 after acquiring an additional 1,081,501 shares in the last quarter. FMR LLC increased its holdings in shares of Veeva Systems by 25.7% in the 3rd quarter. FMR LLC now owns 2,981,244 shares of the technology company’s stock valued at $625,674,000 after acquiring an additional 610,021 shares during the last quarter. Finally, Seilern Investment Management Ltd acquired a new stake in shares of Veeva Systems during the 4th quarter worth about $94,957,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Trading Up 2.2 %

Shares of VEEV opened at $237.31 on Friday. The stock’s 50 day moving average is $222.75 and its two-hundred day moving average is $212.03. The firm has a market capitalization of $38.53 billion, a PE ratio of 58.60, a P/E/G ratio of 2.01 and a beta of 0.84. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93.

Wall Street Analysts Forecast Growth

Several brokerages have commented on VEEV. Canaccord Genuity Group increased their price target on shares of Veeva Systems from $210.00 to $270.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Mizuho began coverage on shares of Veeva Systems in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $275.00 target price on the stock. StockNews.com cut shares of Veeva Systems from a “buy” rating to a “hold” rating in a research report on Thursday, January 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $270.00 price objective on shares of Veeva Systems in a report on Friday, January 17th. Finally, The Goldman Sachs Group downgraded Veeva Systems from a “buy” rating to a “sell” rating and reduced their target price for the company from $261.00 to $200.00 in a report on Thursday, January 23rd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $253.96.

Insider Buying and Selling

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.01, for a total transaction of $270,251.26. Following the transaction, the insider now directly owns 27,013 shares in the company, valued at approximately $6,483,390.13. This represents a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Jonathan Faddis sold 1,694 shares of Veeva Systems stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total transaction of $390,128.20. Following 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 ownership of the stock. The disclosure for this sale can be found here. 10.50% of the stock is currently owned by corporate insiders.

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.