Virtu Financial LLC purchased a new stake in Veeva Systems Inc (NYSE:VEEV) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 5,736 shares of the technology company’s stock, valued at approximately $317,000.
A number of other hedge funds have also recently made changes to their positions in VEEV. Janus Henderson Group PLC lifted its stake in Veeva Systems by 202.7% in the third quarter. Janus Henderson Group PLC now owns 594,544 shares of the technology company’s stock valued at $33,538,000 after acquiring an additional 398,149 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in Veeva Systems by 85.6% in the third quarter. Ameriprise Financial Inc. now owns 606,728 shares of the technology company’s stock valued at $34,226,000 after acquiring an additional 279,769 shares during the last quarter. Van ECK Associates Corp acquired a new stake in Veeva Systems in the third quarter valued at $15,661,000. Neuberger Berman Group LLC acquired a new stake in Veeva Systems in the third quarter valued at $13,164,000. Finally, Nordea Investment Management AB lifted its stake in Veeva Systems by 3,709.0% in the third quarter. Nordea Investment Management AB now owns 129,010 shares of the technology company’s stock valued at $7,277,000 after acquiring an additional 125,623 shares during the last quarter. Hedge funds and other institutional investors own 73.13% of the company’s stock.
In related news, insider Eleni Nitsa Zuppas sold 49,793 shares of the firm’s stock in a transaction dated Wednesday, March 7th. The shares were sold at an average price of $77.28, for a total transaction of $3,848,003.04. Following the transaction, the insider now directly owns 12,398 shares of the company’s stock, valued at $958,117.44. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Timothy C. Barabe sold 1,993 shares of the firm’s stock in a transaction dated Thursday, March 8th. The stock was sold at an average price of $78.16, for a total transaction of $155,772.88. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 254,723 shares of company stock worth $16,573,583. 17.50% of the stock is owned by insiders.
A number of brokerages have commented on VEEV. Zacks Investment Research upgraded shares of Veeva Systems from a “hold” rating to a “strong-buy” rating and set a $89.00 price target for the company in a research note on Wednesday, March 7th. Stifel Nicolaus increased their price objective on shares of Veeva Systems from $67.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. JPMorgan Chase & Co. lowered shares of Veeva Systems from an “overweight” rating to a “neutral” rating in a research report on Friday, March 9th. Morgan Stanley increased their price objective on shares of Veeva Systems from $72.00 to $76.00 and gave the company an “overweight” rating in a research report on Thursday, March 1st. Finally, KeyCorp reissued an “overweight” rating and issued a $81.00 price objective (up from $70.00) on shares of Veeva Systems in a research report on Friday, March 2nd. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $71.47.
Veeva Systems Inc (VEEV) opened at $76.45 on Wednesday. The firm has a market cap of $10,870.00, a PE ratio of 83.10, a PEG ratio of 4.64 and a beta of 1.46. Veeva Systems Inc has a 1 year low of $45.91 and a 1 year high of $78.28.
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Veeva Systems Profile
Veeva Systems Inc (Veeva) is a provider of cloud-based software solutions for the global life sciences industry. The Company offers solutions for a range of requirements within life sciences companies, including multichannel customer relationship management, regulated content and information management, master data management and customer data.
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