Veeva Systems Inc. (NYSE:VEEV) Shares Bought by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd grew its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 11.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,946 shares of the technology company’s stock after purchasing an additional 6,620 shares during the period. Mediolanum International Funds Ltd’s holdings in Veeva Systems were worth $13,911,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Gilbert & Cook Inc. boosted its holdings in Veeva Systems by 11.0% in the fourth quarter. Gilbert & Cook Inc. now owns 2,393 shares of the technology company’s stock valued at $503,000 after purchasing an additional 237 shares during the last quarter. OLD National Bancorp IN boosted its stake in shares of Veeva Systems by 2.4% during the 4th quarter. OLD National Bancorp IN now owns 49,629 shares of the technology company’s stock valued at $10,434,000 after buying an additional 1,158 shares during the last quarter. Strategic Planning Group LLC grew its position in shares of Veeva Systems by 2.0% during the fourth quarter. Strategic Planning Group LLC now owns 21,068 shares of the technology company’s stock worth $4,430,000 after buying an additional 411 shares in the last quarter. Allen Capital Group LLC increased its stake in shares of Veeva Systems by 9.8% in the fourth quarter. Allen Capital Group LLC now owns 12,120 shares of the technology company’s stock worth $2,548,000 after buying an additional 1,077 shares during the last quarter. Finally, Forsta AP Fonden raised its holdings in Veeva Systems by 0.9% in the fourth quarter. Forsta AP Fonden now owns 32,100 shares of the technology company’s stock valued at $6,749,000 after acquiring an additional 300 shares in the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Stock Performance

Shares of VEEV stock opened at $233.25 on Friday. The firm has a market capitalization of $37.87 billion, a PE ratio of 57.59, a price-to-earnings-growth ratio of 2.04 and a beta of 0.84. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93. The stock has a fifty day moving average of $223.22 and a two-hundred day moving average of $212.20.

Insider Buying and Selling

In related news, insider Thomas D. Schwenger sold 1,126 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $240.01, for a total transaction of $270,251.26. Following the completion of the transaction, the insider now owns 27,013 shares of the company’s stock, valued at $6,483,390.13. This trade represents a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Jonathan Faddis sold 1,694 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total transaction of $390,128.20. Following the completion of the sale, the senior vice president now owns 8,061 shares in the company, valued at approximately $1,856,448.30. This trade represents a 17.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 10.50% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on VEEV. Mizuho started coverage on shares of Veeva Systems in a report on Wednesday, December 4th. They set an “outperform” rating and a $275.00 price objective for the company. Stephens began coverage on Veeva Systems in a report on Friday, December 20th. They issued an “overweight” rating and a $280.00 price objective for the company. KeyCorp cut their price objective on Veeva Systems from $285.00 to $255.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Piper Sandler lifted their target price on Veeva Systems from $280.00 to $290.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Finally, Truist Financial dropped their price target on Veeva Systems from $261.00 to $210.00 and set a “hold” rating on the stock in a research report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, Veeva Systems presently has an average rating of “Moderate Buy” and a consensus price target of $253.96.

Veeva Systems 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.