Man Group plc Acquires 230,015 Shares of Veeva Systems Inc. (NYSE:VEEV)

Man Group plc raised its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 89.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 485,951 shares of the technology company’s stock after buying an additional 230,015 shares during the period. Man Group plc’s holdings in Veeva Systems were worth $102,171,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Barclays PLC boosted its holdings in shares of Veeva Systems by 18.2% in the 3rd quarter. Barclays PLC now owns 185,206 shares of the technology company’s stock worth $38,870,000 after buying an additional 28,497 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Veeva Systems by 73.2% during the third quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company’s stock valued at $536,972,000 after purchasing an additional 1,081,501 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Veeva Systems by 0.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 14,308 shares of the technology company’s stock valued at $3,003,000 after purchasing an additional 68 shares during the last quarter. Aprio Wealth Management LLC purchased a new stake in shares of Veeva Systems in the fourth quarter worth about $202,000. Finally, CHICAGO TRUST Co NA lifted its holdings in shares of Veeva Systems by 2.9% in the fourth quarter. CHICAGO TRUST Co NA now owns 1,880 shares of the technology company’s stock worth $395,000 after buying an additional 53 shares in the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on VEEV shares. Truist Financial upped their price objective on shares of Veeva Systems from $210.00 to $217.00 and gave the stock a “hold” rating in a research report on Thursday, March 6th. Needham & Company LLC reiterated a “buy” rating and set a $270.00 price target on shares of Veeva Systems in a research 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. KeyCorp dropped their price objective on Veeva Systems from $260.00 to $250.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Finally, Scotiabank raised their price target on Veeva Systems from $240.00 to $245.00 and gave the stock 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 given a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, Veeva Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $254.92.

Veeva Systems Stock Performance

NYSE VEEV opened at $241.11 on Wednesday. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93. The stock has a 50-day moving average of $228.50 and a 200 day moving average of $225.71. The company has a market capitalization of $39.23 billion, a price-to-earnings ratio of 59.53, a PEG ratio of 1.89 and a beta of 0.96.

Insider Buying and Selling

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,200 shares of the firm’s stock in a transaction that occurred 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Timothy S. Cabral sold 3,882 shares of the firm’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 sale, the director now owns 5,500 shares in the company, valued at approximately $1,192,565. The trade was a 41.38% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,869 shares of company stock worth $1,284,917. 10.50% of the stock is owned by corporate insiders.

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.