ExodusPoint Capital Management LP Acquires 114,227 Shares of Veeva Systems Inc. (NYSE:VEEV)

ExodusPoint Capital Management LP increased its stake in Veeva Systems Inc. (NYSE:VEEV) by 623.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 132,557 shares of the technology company’s stock after buying an additional 114,227 shares during the period. ExodusPoint Capital Management LP’s holdings in Veeva Systems were worth $27,870,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its stake in shares of Veeva Systems by 138.9% in the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock valued at $457,366,000 after buying an additional 1,267,061 shares during the period. Rockefeller Capital Management L.P. increased its holdings in Veeva Systems by 1.1% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 39,883 shares of the technology company’s stock worth $8,370,000 after acquiring an additional 430 shares during the last quarter. Captrust Financial Advisors raised its stake in Veeva Systems by 10.5% in the 3rd quarter. Captrust Financial Advisors now owns 7,865 shares of the technology company’s stock valued at $1,651,000 after acquiring an additional 745 shares during the period. Edgestream Partners L.P. purchased a new stake in Veeva Systems during the third quarter valued at about $477,000. Finally, Benjamin Edwards Inc. boosted its position in Veeva Systems by 650.6% during the third quarter. Benjamin Edwards Inc. now owns 6,620 shares of the technology company’s stock worth $1,389,000 after purchasing an additional 5,738 shares during the period. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Performance

Shares of VEEV opened at $226.51 on Thursday. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93. The firm has a market cap of $36.85 billion, a price-to-earnings ratio of 55.93, a PEG ratio of 1.89 and a beta of 0.88. The firm has a 50 day moving average price of $231.96 and a 200-day moving average price of $223.04.

Insiders Place Their Bets

In other Veeva Systems news, SVP Jonathan Faddis sold 787 shares of the business’s stock in a transaction that occurred 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 owns 8,668 shares in the company, valued at approximately $1,960,701.60. The trade was a 8.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 10.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

VEEV has been the topic of several research reports. Bank of America boosted their price target on shares of Veeva Systems from $280.00 to $290.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Morgan Stanley increased their target price on Veeva Systems from $195.00 to $201.00 and gave the stock an “underweight” rating in a research report on Thursday, March 6th. Royal Bank of Canada lifted their price target on Veeva Systems from $275.00 to $285.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Wells Fargo & Company increased their price objective on Veeva Systems from $275.00 to $285.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Finally, KeyCorp reduced their target price on Veeva Systems from $285.00 to $255.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus 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.