Mitsubishi UFJ Asset Management Co. Ltd. Has $12.82 Million Holdings in Veeva Systems Inc. (NYSE:VEEV)

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Veeva Systems Inc. (NYSE:VEEVFree Report) by 10.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 69,218 shares of the technology company’s stock after purchasing an additional 6,505 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Veeva Systems were worth $12,818,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Moran Wealth Management LLC grew its position in Veeva Systems by 2.7% in the 4th quarter. Moran Wealth Management LLC now owns 57,917 shares of the technology company’s stock worth $11,150,000 after purchasing an additional 1,548 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Veeva Systems by 6.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,167,960 shares of the technology company’s stock valued at $417,376,000 after purchasing an additional 122,546 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Veeva Systems by 5.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 280,098 shares of the technology company’s stock worth $53,926,000 after purchasing an additional 14,062 shares during the period. AGF Management Ltd. bought a new stake in shares of Veeva Systems during the 4th quarter worth $357,000. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Veeva Systems by 127.8% in the 4th quarter. BNP Paribas Financial Markets now owns 68,041 shares of the technology company’s stock worth $13,099,000 after buying an additional 38,175 shares during the last quarter. 88.20% of the stock is owned by institutional investors.

Insider Activity at Veeva Systems

In other Veeva Systems news, Director Timothy S. Cabral sold 15,000 shares of Veeva Systems stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $226.04, for a total transaction of $3,390,600.00. Following the completion of the sale, the director now owns 23,391 shares of the company’s stock, valued at $5,287,301.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Veeva Systems news, Director Timothy S. Cabral sold 15,000 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $226.04, for a total transaction of $3,390,600.00. Following the transaction, the director now directly owns 23,391 shares in the company, valued at $5,287,301.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jonathan Faddis sold 3,598 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $207.42, for a total transaction of $746,297.16. Following the completion of the sale, the senior vice president now owns 10,668 shares of the company’s stock, valued at $2,212,756.56. The disclosure for this sale can be found here. Insiders have sold a total of 21,989 shares of company stock valued at $4,818,013 over the last 90 days. 10.50% of the stock is owned by insiders.

Veeva Systems Stock Up 0.3 %

NYSE:VEEV opened at $210.27 on Friday. The stock has a market cap of $33.92 billion, a P/E ratio of 65.30, a PEG ratio of 2.13 and a beta of 0.76. The business’s 50-day moving average price is $213.53 and its two-hundred day moving average price is $202.79. Veeva Systems Inc. has a twelve month low of $160.21 and a twelve month high of $236.90.

Veeva Systems (NYSE:VEEVGet Free Report) last announced its earnings results on Thursday, February 29th. The technology company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.11. Veeva Systems had a net margin of 22.24% and a return on equity of 11.26%. The business had revenue of $630.62 million during the quarter, compared to analyst estimates of $620.75 million. On average, equities research analysts expect that Veeva Systems Inc. will post 4.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. UBS Group lifted their price target on shares of Veeva Systems from $185.00 to $235.00 and gave the stock a “neutral” rating in a report on Monday, February 26th. Stifel Nicolaus increased their price target on Veeva Systems from $205.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Raymond James reissued an “outperform” rating and issued a $260.00 price objective on shares of Veeva Systems in a report on Tuesday, March 26th. Piper Sandler upped their price objective on shares of Veeva Systems from $220.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, March 1st. Finally, The Goldman Sachs Group lifted their target price on shares of Veeva Systems from $219.00 to $248.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $234.90.

Read Our Latest Report on VEEV

Veeva Systems Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Veeva Systems (NYSE:VEEV)

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