Forsta AP Fonden Increases Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Forsta AP Fonden boosted its stake in Veeva Systems Inc. (NYSE:VEEV) by 0.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,100 shares of the technology company’s stock after acquiring an additional 300 shares during the quarter. Forsta AP Fonden’s holdings in Veeva Systems were worth $6,749,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of VEEV. MassMutual Private Wealth & Trust FSB boosted its stake 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 valued at $25,000 after purchasing an additional 50 shares during the period. Mowery & Schoenfeld Wealth Management LLC purchased a new position in Veeva Systems in the 3rd quarter valued at about $26,000. True Wealth Design LLC grew its stake in shares of Veeva Systems by 3,375.0% during the third quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock valued at $29,000 after acquiring an additional 135 shares in the last quarter. Retirement Wealth Solutions LLC purchased a new stake in shares of Veeva Systems during the fourth quarter worth about $31,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of Veeva Systems in the third quarter worth about $49,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insider Activity at Veeva Systems

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $240.01, for a total value of $270,251.26. Following the completion of the sale, the insider now directly owns 27,013 shares in the company, valued at $6,483,390.13. This represents a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Jonathan Faddis sold 1,694 shares of Veeva Systems 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 transaction, the senior vice president now owns 8,061 shares in the company, valued at approximately $1,856,448.30. This trade represents 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 insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. raised their price objective on Veeva Systems from $208.00 to $218.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. Bank of America lifted their price target on shares of Veeva Systems from $280.00 to $290.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Needham & Company LLC reissued a “buy” rating and set a $270.00 price objective on shares of Veeva Systems in a report on Friday, January 17th. Royal Bank of Canada upped their target price on shares of Veeva Systems from $275.00 to $285.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Finally, Stifel Nicolaus lifted their price target on Veeva Systems from $240.00 to $272.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $253.96.

Veeva Systems Stock Performance

NYSE:VEEV opened at $233.25 on Friday. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93. The business has a fifty day moving average of $223.22 and a 200-day moving average of $212.20. The stock has a market cap of $37.87 billion, a price-to-earnings ratio of 57.59, a PEG ratio of 2.04 and a beta of 0.84.

About Veeva Systems

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.