Prudential PLC Acquires 73 Shares of Veeva Systems Inc. (NYSE:VEEV)

Prudential PLC grew its holdings in Veeva Systems Inc. (NYSE:VEEV) by 0.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,602 shares of the technology company’s stock after buying an additional 73 shares during the period. Prudential PLC’s holdings in Veeva Systems were worth $10,429,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in VEEV. Norges Bank purchased a new position in Veeva Systems in the fourth quarter worth about $294,785,000. Principal Financial Group Inc. lifted 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 purchasing an additional 1,267,061 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Veeva Systems by 73.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company’s stock worth $536,972,000 after purchasing an additional 1,081,501 shares during the period. Wealthfront Advisers LLC increased its position in shares of 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 valued at $220,489,000 after purchasing an additional 1,045,188 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Veeva Systems during the 4th quarter valued at $95,710,000. 88.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on VEEV. Evercore ISI boosted their price objective on shares of Veeva Systems from $220.00 to $245.00 and gave the company an “in-line” rating in a research report on Friday, December 6th. Morgan Stanley upped their price target on shares of Veeva Systems from $195.00 to $201.00 and gave the company an “underweight” rating in a report on Thursday, March 6th. KeyCorp decreased their price objective on shares of Veeva Systems from $285.00 to $255.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Stifel Nicolaus upped their target price on Veeva Systems from $240.00 to $272.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Finally, Stephens reissued an “overweight” rating and set a $280.00 price target on shares of Veeva Systems in a research note on Thursday, March 6th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $256.52.

Veeva Systems Stock Down 3.6 %

NYSE VEEV opened at $213.59 on Friday. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93. The company has a 50 day moving average price of $231.73 and a 200 day moving average price of $223.01. The firm has a market cap of $34.75 billion, a PE ratio of 52.74, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88.

Insiders Place Their Bets

In related news, SVP Jonathan Faddis sold 787 shares of Veeva Systems stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total value of $178,019.40. Following the completion of the sale, the senior vice president now directly owns 8,668 shares in the company, valued at $1,960,701.60. This trade represents a 8.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 10.50% of the company’s stock.

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.