Gulf International Bank UK Ltd Has $2.40 Million Holdings in Veeva Systems Inc. (NYSE:VEEV)

Gulf International Bank UK Ltd decreased its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 1.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,423 shares of the technology company’s stock after selling 119 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Veeva Systems were worth $2,401,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA grew its holdings in shares of Veeva Systems by 64.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company’s stock valued at $744,084,000 after purchasing an additional 1,392,256 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of 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 worth $457,366,000 after buying an additional 1,267,061 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Veeva Systems by 73.2% during the third quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company’s stock worth $536,972,000 after buying an additional 1,081,501 shares in the last quarter. FMR LLC lifted its stake in shares of Veeva Systems by 25.7% in the 3rd quarter. FMR LLC now owns 2,981,244 shares of the technology company’s stock valued at $625,674,000 after acquiring an additional 610,021 shares during the last quarter. Finally, Seilern Investment Management Ltd acquired a new stake in shares of Veeva Systems during the 4th quarter valued at $94,957,000. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Trading Up 1.5 %

VEEV opened at $224.33 on Friday. The company has a fifty day moving average price of $223.85 and a two-hundred day moving average price of $218.75. Veeva Systems Inc. has a 1-year low of $170.25 and a 1-year high of $258.93. The company has a market cap of $36.42 billion, a P/E ratio of 55.39, a price-to-earnings-growth ratio of 1.89 and a beta of 0.85.

Insider Activity

In related news, SVP Jonathan Faddis sold 1,694 shares of the stock in a transaction 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 transaction, the senior vice president now directly owns 8,061 shares in the company, valued at $1,856,448.30. This trade represents a 17.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 10.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Royal Bank of Canada upped their target price on Veeva Systems from $275.00 to $285.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Scotiabank raised their price objective on shares of Veeva Systems from $235.00 to $240.00 and gave the company a “sector perform” rating in a report on Friday, December 6th. Bank of America lifted their target price on shares of Veeva Systems from $280.00 to $290.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Mizuho initiated coverage on shares of Veeva Systems in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $275.00 price target for the company. Finally, Evercore ISI lifted 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. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $255.08.

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.