North Star Asset Management Inc. Raises Position in Veeva Systems Inc. (NYSE:VEEV)

North Star Asset Management Inc. grew its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 4.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 114,108 shares of the technology company’s stock after purchasing an additional 5,170 shares during the period. North Star Asset Management Inc. owned approximately 0.07% of Veeva Systems worth $23,991,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. T. Rowe Price Investment Management Inc. lifted its holdings in shares of 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 valued at $1,086,930,000 after purchasing an additional 177,201 shares during the last quarter. Leigh Baldwin & CO. LLC purchased a new position in Veeva Systems in the 4th quarter worth $685,355,000. FMR LLC raised its stake in Veeva Systems by 7.8% in the 4th quarter. FMR LLC now owns 3,213,360 shares of the technology company’s stock worth $675,609,000 after acquiring an additional 232,116 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Veeva Systems by 17.5% in the 4th quarter. JPMorgan Chase & Co. now owns 3,005,633 shares of the technology company’s stock worth $631,935,000 after acquiring an additional 447,041 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in Veeva Systems by 36.0% in the 4th quarter. Principal Financial Group Inc. now owns 2,964,025 shares of the technology company’s stock worth $623,186,000 after acquiring an additional 784,741 shares during the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Down 0.9%

NYSE:VEEV opened at $233.41 on Friday. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93. The stock has a market capitalization of $37.97 billion, a PE ratio of 57.63, a price-to-earnings-growth ratio of 1.89 and a beta of 0.96. The stock’s 50-day moving average price is $228.95 and its 200-day moving average price is $227.05.

Insider Buying and Selling

In other Veeva Systems news, Director Timothy S. Cabral sold 3,882 shares of the firm’s stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $216.83, for a total value of $841,734.06. Following the transaction, the director now directly owns 5,500 shares of the company’s stock, 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 stock was sold at an average price of $226.20, for a total transaction of $178,019.40. Following the completion of the transaction, the senior vice president now directly owns 8,668 shares in the company, valued at $1,960,701.60. This trade represents a 8.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,869 shares of company stock worth $1,284,917. Insiders own 10.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on VEEV. Scotiabank raised their target price on Veeva Systems from $240.00 to $245.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 6th. Morgan Stanley raised their target price on Veeva Systems from $195.00 to $201.00 and gave the stock an “underweight” rating in a research note on Thursday, March 6th. Piper Sandler reduced their target price on Veeva Systems from $290.00 to $255.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. KeyCorp cut their price target on Veeva Systems from $260.00 to $250.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Finally, Robert W. Baird increased their price target on Veeva Systems from $283.00 to $285.00 and gave the stock an “outperform” rating in a research report on Thursday, March 6th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $254.92.

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.