APG Asset Management N.V. Acquires 74,891 Shares of Veeva Systems Inc. (NYSE:VEEV)

APG Asset Management N.V. boosted its holdings in Veeva Systems Inc. (NYSE:VEEV) by 483.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 90,382 shares of the technology company’s stock after acquiring an additional 74,891 shares during the quarter. APG Asset Management N.V. owned 0.06% of Veeva Systems worth $18,351,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in VEEV. MassMutual Private Wealth & Trust FSB increased its stake in Veeva Systems by 72.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock worth $25,000 after acquiring an additional 50 shares during the last quarter. Centricity Wealth Management LLC bought a new position in shares of Veeva Systems during the 4th quarter valued at about $25,000. Smithfield Trust Co increased its position in shares of Veeva Systems by 145.5% during the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock valued at $27,000 after purchasing an additional 80 shares during the last quarter. Avion Wealth increased its position in shares of Veeva Systems by 635.0% during the 4th quarter. Avion Wealth now owns 147 shares of the technology company’s stock valued at $30,000 after purchasing an additional 127 shares during the last quarter. Finally, Retirement Wealth Solutions LLC bought a new position in shares of Veeva Systems during the 4th quarter valued at about $31,000. 88.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

VEEV has been the topic of several recent research reports. Stephens reiterated an “overweight” rating and set a $280.00 price objective on shares of Veeva Systems in a research report on Thursday, March 6th. Robert W. Baird increased their price objective on Veeva Systems from $283.00 to $285.00 and gave the company an “outperform” rating in a research report on Thursday, March 6th. Scotiabank increased their price objective on Veeva Systems from $240.00 to $245.00 and gave the company a “sector perform” rating in a research report on Thursday, March 6th. JPMorgan Chase & Co. increased their price objective on Veeva Systems from $218.00 to $249.00 and gave the company a “neutral” rating in a research report on Thursday, March 20th. Finally, The Goldman Sachs Group cut Veeva Systems from a “buy” rating to a “sell” rating and dropped their target price for the company from $261.00 to $200.00 in a report on Thursday, January 23rd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Veeva Systems presently has a consensus rating of “Moderate Buy” and an average price target of $256.52.

Veeva Systems Stock Performance

NYSE VEEV opened at $216.33 on Thursday. The stock has a market cap of $35.20 billion, a P/E ratio of 53.41, a price-to-earnings-growth ratio of 1.89 and a beta of 1.05. The stock has a 50 day simple moving average of $229.83 and a two-hundred day simple moving average of $222.97. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93.

Insider Activity

In other news, Director Timothy S. Cabral sold 3,882 shares of the firm’s stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $216.83, for a total value of $841,734.06. Following the completion of the transaction, the director now owns 5,500 shares in the company, valued at $1,192,565. This trade represents a 41.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Jonathan Faddis sold 787 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total value of $178,019.40. Following the completion of the transaction, the senior vice president now owns 8,668 shares of the company’s stock, valued at approximately $1,960,701.60. The trade was a 8.32 % decrease in their position. The disclosure for this sale can be found here. 10.50% of the stock is currently owned by company 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.