OLD National Bancorp IN Has $13.78 Million Stock Position in Veeva Systems Inc. $VEEV

OLD National Bancorp IN increased its position in Veeva Systems Inc. (NYSE:VEEV) by 0.9% in the second quarter, Holdings Channel.com reports. The firm owned 47,834 shares of the technology company’s stock after acquiring an additional 424 shares during the period. OLD National Bancorp IN’s holdings in Veeva Systems were worth $13,775,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in VEEV. Nuveen LLC acquired a new stake in Veeva Systems in the first quarter worth about $365,684,000. Price T Rowe Associates Inc. MD grew its position in shares of Veeva Systems by 20.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,992,372 shares of the technology company’s stock worth $924,754,000 after buying an additional 689,700 shares during the period. Linonia Partnership LP grew its position in shares of Veeva Systems by 52.7% during the 1st quarter. Linonia Partnership LP now owns 1,836,557 shares of the technology company’s stock worth $425,402,000 after buying an additional 633,585 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Veeva Systems by 48.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,799,931 shares of the technology company’s stock worth $416,918,000 after buying an additional 585,785 shares during the period. Finally, Alliancebernstein L.P. grew its position in shares of Veeva Systems by 10.7% during the 1st quarter. Alliancebernstein L.P. now owns 5,499,651 shares of the technology company’s stock worth $1,273,884,000 after buying an additional 532,269 shares during the period. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on VEEV shares. Oppenheimer restated an “outperform” rating and set a $325.00 target price on shares of Veeva Systems in a research report on Thursday, August 28th. KeyCorp boosted their target price on Veeva Systems from $285.00 to $325.00 and gave the stock an “overweight” rating in a research report on Monday, July 14th. Wall Street Zen lowered Veeva Systems from a “buy” rating to a “hold” rating in a research report on Friday. Wells Fargo & Company boosted their target price on Veeva Systems from $300.00 to $326.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 26th. Finally, Needham & Company LLC boosted their price objective on Veeva Systems from $300.00 to $355.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. Sixteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Veeva Systems presently has an average rating of “Moderate Buy” and a consensus price target of $303.67.

Veeva Systems Stock Performance

Shares of VEEV opened at $296.47 on Friday. The stock has a 50 day simple moving average of $281.68 and a 200 day simple moving average of $262.93. Veeva Systems Inc. has a 52-week low of $200.30 and a 52-week high of $302.00. The firm has a market capitalization of $48.60 billion, a PE ratio of 60.88, a P/E/G ratio of 2.29 and a beta of 0.98.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, insider Thomas D. Schwenger sold 3,350 shares of the business’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $300.04, for a total value of $1,005,134.00. Following the sale, the insider owned 23,773 shares in the company, valued at approximately $7,132,850.92. The trade was a 12.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Priscilla Hung sold 171 shares of the business’s stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $284.40, for a total value of $48,632.40. Following the completion of the sale, the director owned 3,966 shares in the company, valued at $1,127,930.40. The trade was a 4.13% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,836 shares of company stock worth $5,637,913. Corporate insiders own 10.30% of the company’s stock.

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.