Handelsbanken Fonder AB Has $7.83 Million Position in Veeva Systems Inc. (NYSE:VEEV)

Handelsbanken Fonder AB increased its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 4.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,221 shares of the technology company’s stock after purchasing an additional 1,550 shares during the quarter. Handelsbanken Fonder AB’s holdings in Veeva Systems were worth $7,826,000 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 position in Veeva Systems by 72.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock worth $25,000 after purchasing an additional 50 shares in the last quarter. True Wealth Design LLC increased its position in Veeva Systems by 3,375.0% during the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock worth $29,000 after purchasing an additional 135 shares in the last quarter. Avion Wealth increased its position in Veeva Systems by 635.0% during the 4th quarter. Avion Wealth now owns 147 shares of the technology company’s stock worth $30,000 after purchasing an additional 127 shares in the last quarter. Retirement Wealth Solutions LLC acquired a new position in Veeva Systems during the 4th quarter worth approximately $31,000. Finally, Venturi Wealth Management LLC grew its holdings in Veeva Systems by 2,716.7% during the 4th quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company’s stock worth $36,000 after acquiring an additional 163 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Stock Down 1.2 %

Veeva Systems stock opened at $226.10 on Friday. Veeva Systems Inc. has a 12-month low of $170.25 and a 12-month high of $258.93. The firm’s fifty day moving average is $223.76 and its 200 day moving average is $217.39. The company has a market capitalization of $36.71 billion, a PE ratio of 55.83, a PEG ratio of 1.89 and a beta of 0.85.

Insider Activity at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total transaction of $390,128.20. Following the transaction, the senior vice president now owns 8,061 shares in the company, valued at approximately $1,856,448.30. This represents a 17.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 10.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on VEEV. Morgan Stanley boosted their target price on shares of Veeva Systems from $183.00 to $195.00 and gave the stock an “underweight” rating in a report on Tuesday, December 17th. JPMorgan Chase & Co. boosted their target price on shares of Veeva Systems from $208.00 to $218.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. Mizuho began coverage on shares of Veeva Systems in a report on Wednesday, December 4th. They set an “outperform” rating and a $275.00 target price on the stock. Royal Bank of Canada boosted their target price on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Finally, StockNews.com raised shares of Veeva Systems from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $255.08.

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.