Assenagon Asset Management S.A. Has $12.63 Million Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Assenagon Asset Management S.A. grew its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 182.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 60,072 shares of the technology company’s stock after acquiring an additional 38,793 shares during the period. Assenagon Asset Management S.A.’s holdings in Veeva Systems were worth $12,630,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. General American Investors Co. Inc. acquired a new position in shares of Veeva Systems in the third quarter valued at about $5,133,000. Toronto Dominion Bank grew its position in shares of Veeva Systems by 39.1% during the 3rd quarter. Toronto Dominion Bank now owns 20,180 shares of the technology company’s stock worth $4,235,000 after purchasing an additional 5,673 shares in the last quarter. Procyon Advisors LLC bought a new position in shares of Veeva Systems during the third quarter worth approximately $712,000. Principal Financial Group Inc. raised its position 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 in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its stake in shares of Veeva Systems by 3.6% in the third quarter. Oppenheimer Asset Management Inc. now owns 78,000 shares of the technology company’s stock valued at $16,370,000 after buying an additional 2,733 shares during the period. Institutional investors own 88.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Canaccord Genuity Group raised their price objective on Veeva Systems from $210.00 to $270.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Citigroup raised their price target on Veeva Systems from $281.00 to $307.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Stephens assumed coverage on shares of Veeva Systems in a research report on Friday, December 20th. They set an “overweight” rating and a $280.00 price objective for the company. Piper Sandler raised their target price on shares of Veeva Systems from $280.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Finally, KeyCorp cut their price target on shares of Veeva Systems from $285.00 to $255.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat, Veeva Systems presently has an average rating of “Moderate Buy” and an average target price of $255.74.

Insider Buying and Selling

In other news, insider Thomas D. Schwenger sold 1,126 shares of the business’s 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 of the company’s stock, valued at $6,483,390.13. The trade was a 4.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Jonathan Faddis sold 1,694 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total value of $390,128.20. Following the sale, the senior vice president now directly owns 8,061 shares of the company’s stock, valued at $1,856,448.30. This represents a 17.37 % decrease in their position. The disclosure for this sale can be found here. 10.50% of the stock is owned by insiders.

Veeva Systems Trading Up 0.9 %

NYSE VEEV opened at $216.67 on Friday. The firm has a market capitalization of $35.18 billion, a PE ratio of 53.50, a price-to-earnings-growth ratio of 1.91 and a beta of 0.84. The business’s 50-day moving average price is $222.31 and its two-hundred day moving average price is $209.47. Veeva Systems Inc. has a 12 month low of $170.25 and a 12 month high of $258.93.

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.