Veeva Systems Inc. (NYSE:VEEV) Shares Purchased by Nordea Investment Management AB

Nordea Investment Management AB raised its holdings in Veeva Systems Inc. (NYSE:VEEV) by 21.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 261,131 shares of the technology company’s stock after purchasing an additional 46,440 shares during the quarter. Nordea Investment Management AB owned about 0.16% of Veeva Systems worth $55,073,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of VEEV. Patriot Financial Group Insurance Agency LLC lifted its holdings in shares of Veeva Systems by 0.7% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 6,924 shares of the technology company’s stock valued at $1,453,000 after buying an additional 48 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Veeva Systems by 1.2% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,307 shares of the technology company’s stock valued at $904,000 after acquiring an additional 50 shares during the period. Clearbridge Investments LLC boosted its stake in shares of Veeva Systems by 0.4% during the 2nd quarter. Clearbridge Investments LLC now owns 11,682 shares of the technology company’s stock worth $2,138,000 after acquiring an additional 52 shares in the last quarter. Park Place Capital Corp grew its holdings in shares of Veeva Systems by 11.5% in the 3rd quarter. Park Place Capital Corp now owns 574 shares of the technology company’s stock worth $120,000 after acquiring an additional 59 shares during the period. Finally, Quintet Private Bank Europe S.A. increased its stake in Veeva Systems by 13.4% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 516 shares of the technology company’s stock valued at $108,000 after purchasing an additional 61 shares in the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Wall Street Analysts Forecast Growth

VEEV has been the topic of several research reports. Wells Fargo & Company upped their target price on Veeva Systems from $275.00 to $285.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Canaccord Genuity Group increased their price objective 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. Citigroup lifted their target price on shares of Veeva Systems from $281.00 to $307.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Evercore ISI increased their price target on shares of Veeva Systems from $220.00 to $245.00 and gave the company an “in-line” rating in a research report on Friday, December 6th. Finally, BNP Paribas began coverage on Veeva Systems in a research report on Tuesday, October 8th. They set an “outperform” rating and a $286.00 price objective for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Veeva Systems currently has a consensus rating of “Moderate Buy” and an average price target of $257.44.

Veeva Systems Price Performance

Shares of Veeva Systems stock opened at $211.52 on Wednesday. Veeva Systems Inc. has a 1-year low of $170.25 and a 1-year high of $258.93. The company has a market capitalization of $34.34 billion, a P/E ratio of 52.23, a PEG ratio of 2.03 and a beta of 0.84. The business’s fifty day moving average price is $222.63 and its two-hundred day moving average price is $208.10.

Insider Activity at Veeva Systems

In related news, SVP Jonathan Faddis sold 1,694 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total transaction of $390,128.20. Following the completion of the transaction, the senior vice president now owns 8,061 shares of the company’s stock, valued at $1,856,448.30. This trade represents a 17.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Thomas D. Schwenger sold 1,126 shares of Veeva Systems stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $240.01, for a total value 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. The trade was a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 10.50% of the company’s stock.

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.