Veeva Systems Inc. (NYSE:VEEV) Shares Acquired by Bessemer Group Inc.

Bessemer Group Inc. raised its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 27.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,268 shares of the technology company’s stock after acquiring an additional 491 shares during the quarter. Bessemer Group Inc.’s holdings in Veeva Systems were worth $477,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. increased its holdings in Veeva Systems by 138.9% in the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock valued at $457,366,000 after buying an additional 1,267,061 shares during the last quarter. Smith Group Asset Management LLC increased its holdings in shares of Veeva Systems by 2.2% in the 4th quarter. Smith Group Asset Management LLC now owns 82,567 shares of the technology company’s stock valued at $17,360,000 after acquiring an additional 1,749 shares during the last quarter. Everence Capital Management Inc. acquired a new stake in shares of Veeva Systems during the 4th quarter valued at approximately $816,000. Venturi Wealth Management LLC lifted its stake in Veeva Systems by 2,716.7% during the fourth quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company’s stock worth $36,000 after purchasing an additional 163 shares during the last quarter. Finally, Nordea Investment Management AB boosted its holdings in Veeva Systems by 21.6% in the fourth quarter. Nordea Investment Management AB now owns 261,131 shares of the technology company’s stock worth $55,073,000 after purchasing an additional 46,440 shares during the period. 88.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, Director Timothy S. Cabral sold 3,882 shares of Veeva Systems stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $216.83, for a total value of $841,734.06. Following the completion of the sale, the director now directly owns 5,500 shares in the company, valued at $1,192,565. The trade was a 41.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jonathan Faddis sold 787 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total transaction of $178,019.40. Following the transaction, the senior vice president now owns 8,668 shares in the company, valued at $1,960,701.60. This represents a 8.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,869 shares of company stock valued at $1,284,917 in the last quarter. Company insiders own 10.50% of the company’s stock.

Veeva Systems Price Performance

Shares of VEEV opened at $222.30 on Wednesday. The business’s 50-day moving average is $228.44 and its 200-day moving average is $223.27. The company has a market capitalization of $36.17 billion, a price-to-earnings ratio of 54.89, a P/E/G ratio of 1.89 and a beta of 1.05. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on VEEV shares. Morgan Stanley increased their target price on shares of Veeva Systems from $195.00 to $201.00 and gave the stock an “underweight” rating in a report on Thursday, March 6th. JPMorgan Chase & Co. lifted their target price on Veeva Systems from $218.00 to $249.00 and gave the company a “neutral” rating in a research note on Thursday, March 20th. The Goldman Sachs Group cut Veeva Systems from a “buy” rating to a “sell” rating and dropped their price target for the stock from $261.00 to $200.00 in a research report on Thursday, January 23rd. Needham & Company LLC restated a “buy” rating and set a $270.00 price objective on shares of Veeva Systems in a research report on Thursday, March 6th. Finally, KeyCorp dropped their target price on Veeva Systems from $285.00 to $255.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $256.52.

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.