Axa S.A. Has $81.38 Million Stake in Veeva Systems Inc. (NYSE:VEEV)

Axa S.A. lessened its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 11.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 387,055 shares of the technology company’s stock after selling 51,822 shares during the period. Axa S.A. owned about 0.24% of Veeva Systems worth $81,378,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. T. Rowe Price Investment Management Inc. increased its stake in Veeva Systems by 3.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,169,698 shares of the technology company’s stock worth $1,086,930,000 after acquiring an additional 177,201 shares during the period. FMR LLC grew its holdings in shares of Veeva Systems by 7.8% during the 4th quarter. FMR LLC now owns 3,213,360 shares of the technology company’s stock worth $675,609,000 after purchasing an additional 232,116 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Veeva Systems by 17.5% in the fourth quarter. JPMorgan Chase & Co. now owns 3,005,633 shares of the technology company’s stock worth $631,935,000 after purchasing an additional 447,041 shares during the period. Principal Financial Group Inc. raised its stake in Veeva Systems by 36.0% in the fourth quarter. Principal Financial Group Inc. now owns 2,964,025 shares of the technology company’s stock valued at $623,186,000 after purchasing an additional 784,741 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Veeva Systems by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 2,803,344 shares of the technology company’s stock worth $589,208,000 after purchasing an additional 38,108 shares during the period. 88.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on VEEV. JPMorgan Chase & Co. boosted their target price on shares of Veeva Systems from $218.00 to $249.00 and gave the company a “neutral” rating in a research report on Thursday, March 20th. Stephens restated an “overweight” rating and set a $280.00 price objective on shares of Veeva Systems in a research report on Thursday, March 6th. Piper Sandler reduced their target price on Veeva Systems from $290.00 to $255.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. KeyCorp lowered their price target on Veeva Systems from $260.00 to $250.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Finally, Morgan Stanley raised their price objective on Veeva Systems from $195.00 to $201.00 and gave the company an “underweight” rating in a research note on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $254.92.

Veeva Systems Trading Up 2.0 %

Shares of Veeva Systems stock opened at $236.63 on Friday. The business has a 50-day moving average price of $226.53 and a two-hundred day moving average price of $224.66. Veeva Systems Inc. has a 1-year low of $170.25 and a 1-year high of $258.93. The company has a market cap of $38.50 billion, a P/E ratio of 58.43, a PEG ratio of 1.89 and a beta of 1.05.

Insider Activity at Veeva Systems

In related news, Director Timothy S. Cabral sold 3,882 shares of the company’s stock in a transaction on Friday, April 4th. The stock was sold at an average price of $216.83, for a total transaction of $841,734.06. Following the completion of the sale, the director now owns 5,500 shares in the company, valued at approximately $1,192,565. This represents a 41.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Jonathan Faddis sold 787 shares of the stock in a transaction 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 sale, the senior vice president now directly owns 8,668 shares of the company’s stock, valued at $1,960,701.60. The trade was a 8.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,869 shares of company stock worth $1,284,917 in the last 90 days. Corporate 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.