Marshall Wace LLP Increases Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Marshall Wace LLP boosted its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 413.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 638,380 shares of the technology company’s stock after purchasing an additional 514,004 shares during the period. Marshall Wace LLP’s holdings in Veeva Systems were worth $134,219,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Evergreen Capital Management LLC grew its position in shares of Veeva Systems by 2.5% during the 4th quarter. Evergreen Capital Management LLC now owns 23,563 shares of the technology company’s stock valued at $4,954,000 after purchasing an additional 579 shares in the last quarter. Ontario Teachers Pension Plan Board boosted its stake in Veeva Systems by 148.2% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 9,162 shares of the technology company’s stock valued at $1,926,000 after buying an additional 5,470 shares during the period. Guggenheim Capital LLC grew its position in Veeva Systems by 9.8% during the fourth quarter. Guggenheim Capital LLC now owns 27,633 shares of the technology company’s stock worth $5,810,000 after buying an additional 2,465 shares in the last quarter. Aware Super Pty Ltd as trustee of Aware Super bought a new position in Veeva Systems in the 4th quarter worth about $35,404,000. Finally, Canada Post Corp Registered Pension Plan purchased a new stake in shares of Veeva Systems in the 4th quarter valued at about $845,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Trading Down 0.6 %

Veeva Systems stock opened at $222.30 on Wednesday. Veeva Systems Inc. has a 1-year low of $170.25 and a 1-year high of $258.93. The firm has a market cap of $36.17 billion, a P/E ratio of 54.89, a P/E/G ratio of 1.89 and a beta of 1.05. The firm has a 50-day moving average of $228.44 and a 200-day moving average of $223.27.

Insiders Place Their Bets

In related news, Director Timothy S. Cabral sold 3,882 shares of the company’s stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $216.83, for a total transaction of $841,734.06. Following the completion of the transaction, the director now owns 5,500 shares in the company, valued at $1,192,565. This represents a 41.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas D. Schwenger sold 1,200 shares of Veeva Systems stock in a transaction on Monday, April 14th. The shares were sold at an average price of $220.97, for a total transaction of $265,164.00. Following the completion of the sale, the insider now owns 25,889 shares in the company, valued at approximately $5,720,692.33. This trade represents a 4.43 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,869 shares of company stock worth $1,284,917. 10.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

VEEV has been the subject of several recent analyst reports. Morgan Stanley boosted their price objective on Veeva Systems from $195.00 to $201.00 and gave the stock an “underweight” rating in a report on Thursday, March 6th. The Goldman Sachs Group lowered shares of Veeva Systems from a “buy” rating to a “sell” rating and decreased their price target for the stock from $261.00 to $200.00 in a report on Thursday, January 23rd. Robert W. Baird lifted their price objective on shares of Veeva Systems from $283.00 to $285.00 and gave the stock an “outperform” rating in a report on Thursday, March 6th. StockNews.com raised Veeva Systems from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Finally, Truist Financial lifted their price target on Veeva Systems from $210.00 to $217.00 and gave the stock a “hold” rating in a research note on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, Veeva Systems has a consensus rating of “Moderate Buy” and an average target price of $256.52.

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.