Barclays PLC Has $28.10 Million Holdings in Veeva Systems Inc. (NYSE:VEEV)

Barclays PLC decreased its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 27.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 133,633 shares of the technology company’s stock after selling 51,573 shares during the quarter. Barclays PLC owned about 0.08% of Veeva Systems worth $28,096,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in Veeva Systems in the fourth quarter worth $294,785,000. Principal Financial Group Inc. grew its stake in shares of Veeva Systems by 138.9% in the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock valued at $457,366,000 after buying an additional 1,267,061 shares during the period. JPMorgan Chase & Co. increased its position in Veeva Systems by 73.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company’s stock valued at $536,972,000 after buying an additional 1,081,501 shares in the last quarter. Wealthfront Advisers LLC raised its stake in Veeva Systems by 29,760.5% during the 4th quarter. Wealthfront Advisers LLC now owns 1,048,700 shares of the technology company’s stock worth $220,489,000 after buying an additional 1,045,188 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Veeva Systems in the fourth quarter worth approximately $95,710,000. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Price Performance

Shares of VEEV opened at $215.73 on Friday. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93. The stock’s fifty day moving average price is $227.31 and its two-hundred day moving average price is $223.35. The firm has a market cap of $35.10 billion, a PE ratio of 53.27, a PEG ratio of 1.89 and a beta of 1.05.

Insider Activity at Veeva Systems

In related news, insider Thomas D. Schwenger sold 1,200 shares of the stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $220.97, for a total transaction of $265,164.00. Following the sale, the insider now owns 25,889 shares of the company’s stock, valued at approximately $5,720,692.33. This represents a 4.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Jonathan Faddis sold 787 shares of Veeva Systems 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 transaction, the senior vice president now directly owns 8,668 shares of the company’s stock, valued at $1,960,701.60. The trade was a 8.32 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,869 shares of company stock worth $1,284,917. Company insiders own 10.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on VEEV shares. Morgan Stanley boosted their price objective on Veeva Systems from $195.00 to $201.00 and gave the company an “underweight” rating in a report on Thursday, March 6th. StockNews.com upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Robert W. Baird raised their price objective on shares of Veeva Systems from $283.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday, March 6th. Needham & Company LLC reissued a “buy” rating and set a $270.00 target price on shares of Veeva Systems in a research report on Thursday, March 6th. Finally, Scotiabank lifted their price target on Veeva Systems from $240.00 to $245.00 and gave the company a “sector perform” rating in a research note on Thursday, March 6th. Two 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 company. According to MarketBeat, Veeva Systems presently has an average rating of “Moderate Buy” and a consensus target price of $256.32.

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.