Fiera Capital Corp Buys 38,037 Shares of Veeva Systems Inc. (NYSE:VEEV)

Fiera Capital Corp lifted its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 11.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 357,767 shares of the technology company’s stock after purchasing an additional 38,037 shares during the quarter. Fiera Capital Corp’s holdings in Veeva Systems were worth $75,221,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of VEEV. General American Investors Co. Inc. bought a new position in Veeva Systems in the 3rd quarter valued at about $5,133,000. Toronto Dominion Bank increased its stake in Veeva Systems by 39.1% in the third quarter. Toronto Dominion Bank now owns 20,180 shares of the technology company’s stock valued at $4,235,000 after acquiring an additional 5,673 shares during the last quarter. Procyon Advisors LLC acquired a new position in Veeva Systems during the third quarter valued at approximately $712,000. Principal Financial Group Inc. raised its position in Veeva Systems by 138.9% during the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock valued at $457,366,000 after purchasing an additional 1,267,061 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its holdings in shares of Veeva Systems by 3.6% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 78,000 shares of the technology company’s stock worth $16,370,000 after buying an additional 2,733 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on VEEV. The Goldman Sachs Group cut Veeva Systems from a “buy” rating to a “sell” rating and decreased their target price for the company from $261.00 to $200.00 in a research report on Thursday, January 23rd. Truist Financial dropped their price objective on shares of Veeva Systems from $261.00 to $210.00 and set a “hold” rating for the company in a research note on Monday, January 13th. Barclays raised 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. Evercore ISI upped their price target on shares of Veeva Systems from $220.00 to $245.00 and gave the stock an “in-line” rating in a report on Friday, December 6th. Finally, Royal Bank of Canada raised their price objective on Veeva Systems from $275.00 to $285.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, Veeva Systems has an average rating of “Moderate Buy” and an average target price of $253.96.

Veeva Systems Stock Performance

Shares of VEEV stock opened at $233.26 on Thursday. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93. The stock has a 50 day simple moving average of $224.84 and a two-hundred day simple moving average of $215.41. The company has a market cap of $37.87 billion, a P/E ratio of 57.60, a PEG ratio of 1.97 and a beta of 0.85.

Insider Activity

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

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.