Schroder Investment Management Group Sells 848 Shares of Veeva Systems Inc. (NYSE:VEEV)

Schroder Investment Management Group cut its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 90,285 shares of the technology company’s stock after selling 848 shares during the period. Schroder Investment Management Group owned 0.06% of Veeva Systems worth $18,982,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of VEEV. State Street Corp increased its holdings in Veeva Systems by 1.5% during the 3rd quarter. State Street Corp now owns 3,293,141 shares of the technology company’s stock worth $691,132,000 after acquiring an additional 47,872 shares during the period. JPMorgan Chase & Co. increased its holdings 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 position in shares of 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 worth $623,186,000 after buying an additional 784,741 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Veeva Systems by 5.7% in the third quarter. Geode Capital Management LLC now owns 2,765,236 shares of the technology company’s stock worth $579,630,000 after buying an additional 149,807 shares in the last quarter. Finally, Van ECK Associates Corp boosted its stake in Veeva Systems by 6.8% during the fourth quarter. Van ECK Associates Corp now owns 2,130,498 shares of the technology company’s stock valued at $447,937,000 after buying an additional 135,492 shares during the period. 88.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Jonathan Faddis sold 787 shares of the stock in a transaction dated 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 directly owns 8,668 shares of the company’s stock, valued at $1,960,701.60. This represents a 8.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 10.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on VEEV. Wells Fargo & Company raised their price target on Veeva Systems from $275.00 to $285.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Barclays lifted their target price on shares of Veeva Systems from $260.00 to $275.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Scotiabank increased their price target on shares of Veeva Systems from $240.00 to $245.00 and gave the stock a “sector perform” rating in a report on Thursday, March 6th. Truist Financial lifted their price objective on shares of Veeva Systems from $210.00 to $217.00 and gave the stock a “hold” rating in a report on Thursday, March 6th. Finally, Stephens reissued an “overweight” rating and issued a $280.00 target price on shares of Veeva Systems in a research note on Thursday, March 6th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $256.52.

Veeva Systems Stock Performance

Shares of VEEV stock opened at $226.51 on Thursday. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93. The firm has a market cap of $36.85 billion, a P/E ratio of 55.93, a P/E/G ratio of 1.89 and a beta of 0.88. The business’s 50 day moving average price is $231.96 and its 200-day moving average price is $223.04.

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.