Veeva Systems Inc. (NYSE:VEEV) Shares Bought by Nordea Investment Management AB

Nordea Investment Management AB increased its stake in Veeva Systems Inc. (NYSE:VEEV) by 21.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 261,131 shares of the technology company’s stock after buying an additional 46,440 shares during the period. Nordea Investment Management AB’s holdings in Veeva Systems were worth $55,073,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of VEEV. Patriot Financial Group Insurance Agency LLC increased its stake in Veeva Systems by 0.7% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 6,924 shares of the technology company’s stock worth $1,453,000 after purchasing an additional 48 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its position in shares of Veeva Systems by 1.2% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,307 shares of the technology company’s stock worth $904,000 after acquiring an additional 50 shares in the last quarter. Clearbridge Investments LLC raised its holdings in shares of Veeva Systems by 0.4% during the second quarter. Clearbridge Investments LLC now owns 11,682 shares of the technology company’s stock valued at $2,138,000 after acquiring an additional 52 shares during the period. Park Place Capital Corp lifted its position in shares of Veeva Systems by 11.5% in the 3rd quarter. Park Place Capital Corp now owns 574 shares of the technology company’s stock valued at $120,000 after acquiring an additional 59 shares in the last quarter. Finally, Quintet Private Bank Europe S.A. boosted its stake in Veeva Systems by 13.4% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 516 shares of the technology company’s stock worth $108,000 after purchasing an additional 61 shares during the period. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Price Performance

VEEV stock opened at $211.52 on Wednesday. The stock has a market capitalization of $34.34 billion, a price-to-earnings ratio of 52.23, a price-to-earnings-growth ratio of 2.03 and a beta of 0.84. The company has a 50-day moving average of $222.63 and a two-hundred day moving average of $208.10. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93.

Insider Activity at Veeva Systems

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.01, for a total value of $270,251.26. Following the sale, the insider now directly owns 27,013 shares in the company, valued at $6,483,390.13. This trade represents a 4.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Jonathan Faddis sold 1,694 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total transaction of $390,128.20. Following the transaction, the senior vice president now owns 8,061 shares in the company, valued at approximately $1,856,448.30. The trade was a 17.37 % decrease in their position. The disclosure for this sale can be found here. 10.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports on VEEV shares. Morgan Stanley boosted their target price on shares of Veeva Systems from $183.00 to $195.00 and gave the company an “underweight” rating in a research note on Tuesday, December 17th. Guggenheim raised their price objective on Veeva Systems from $233.00 to $249.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Citigroup increased their price target on shares of Veeva Systems from $281.00 to $307.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Wells Fargo & Company boosted their price objective on shares of Veeva Systems from $275.00 to $285.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Finally, Canaccord Genuity Group upped their price objective on shares of Veeva Systems from $210.00 to $270.00 and gave the company a “hold” rating in a research note on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Veeva Systems presently has an average rating of “Moderate Buy” and an average target price of $257.44.

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.