6,683 Shares in Veeva Systems Inc. (NYSE:VEEV) Purchased by Illumine Investment Management LLC

Illumine Investment Management LLC acquired a new position in shares of Veeva Systems Inc. (NYSE:VEEV) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 6,683 shares of the technology company’s stock, valued at approximately $1,405,000.

Several other large investors have also made changes to their positions in the business. Massachusetts Financial Services Co. MA raised its holdings in Veeva Systems by 64.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company’s stock valued at $744,084,000 after acquiring an additional 1,392,256 shares in the last quarter. State Street Corp grew its stake in shares of Veeva Systems by 1.5% in the 3rd quarter. State Street Corp now owns 3,293,141 shares of the technology company’s stock valued at $691,132,000 after purchasing an additional 47,872 shares during the period. FMR LLC grew its stake in shares of Veeva Systems by 25.7% in the 3rd quarter. FMR LLC now owns 2,981,244 shares of the technology company’s stock valued at $625,674,000 after purchasing an additional 610,021 shares during the period. Principal Financial Group Inc. grew its stake in shares of Veeva Systems by 36.0% in the 4th quarter. Principal Financial Group Inc. now owns 2,964,025 shares of the technology company’s stock valued at $623,186,000 after purchasing an additional 784,741 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Veeva Systems by 5.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,765,236 shares of the technology company’s stock valued at $579,630,000 after purchasing an additional 149,807 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insider Buying and Selling at Veeva Systems

In related news, SVP Jonathan Faddis sold 1,694 shares of Veeva Systems 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 completion of the transaction, the senior vice president now owns 8,061 shares in the company, valued at approximately $1,856,448.30. This trade represents a 17.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 10.50% of the company’s stock.

Veeva Systems Trading Down 2.6 %

Shares of Veeva Systems stock opened at $221.28 on Friday. The company has a market capitalization of $35.93 billion, a PE ratio of 54.64, a PEG ratio of 1.89 and a beta of 0.85. Veeva Systems Inc. has a 12 month low of $170.25 and a 12 month high of $258.93. The stock’s fifty day simple moving average is $223.85 and its 200 day simple moving average is $218.48.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Truist Financial decreased their price target on Veeva Systems from $261.00 to $210.00 and set a “hold” rating on the stock in a research report on Monday, January 13th. The Goldman Sachs Group lowered Veeva Systems from a “buy” rating to a “sell” rating and decreased their price target for the stock from $261.00 to $200.00 in a research report on Thursday, January 23rd. Stephens assumed coverage on Veeva Systems in a research report on Friday, December 20th. They set an “overweight” rating and a $280.00 price target on the stock. Evercore ISI increased their price target on Veeva Systems from $220.00 to $245.00 and gave the stock an “in-line” rating in a research report on Friday, December 6th. Finally, Stifel Nicolaus increased their price objective on Veeva Systems from $240.00 to $272.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, Veeva Systems currently has an average rating of “Moderate Buy” and a consensus target price of $255.08.

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.