KBC Group NV Purchases 9,161 Shares of Veeva Systems Inc. (NYSE:VEEV)

KBC Group NV grew its holdings in Veeva Systems Inc. (NYSE:VEEV) by 21.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 52,790 shares of the technology company’s stock after buying an additional 9,161 shares during the quarter. KBC Group NV’s holdings in Veeva Systems were worth $11,099,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. General American Investors Co. Inc. acquired a new stake in Veeva Systems in the 3rd quarter valued at about $5,133,000. Toronto Dominion Bank increased its holdings in shares of Veeva Systems by 39.1% in the third quarter. Toronto Dominion Bank now owns 20,180 shares of the technology company’s stock valued at $4,235,000 after purchasing an additional 5,673 shares in the last quarter. Procyon Advisors LLC bought a new position in Veeva Systems in the 3rd quarter worth approximately $712,000. Principal Financial Group Inc. lifted its holdings in Veeva Systems by 138.9% during the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock worth $457,366,000 after buying an additional 1,267,061 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its position in Veeva Systems by 3.6% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 78,000 shares of the technology company’s stock valued at $16,370,000 after buying an additional 2,733 shares during the last quarter. 88.20% of the stock is owned by institutional investors.

Veeva Systems Stock Up 0.2 %

Shares of Veeva Systems stock opened at $232.65 on Thursday. The stock has a market cap of $37.77 billion, a P/E ratio of 57.44, a P/E/G ratio of 2.01 and a beta of 0.84. Veeva Systems Inc. has a 12-month low of $170.25 and a 12-month high of $258.93. The business’s 50 day moving average is $222.31 and its 200-day moving average is $211.88.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Stifel Nicolaus upped their price target on Veeva Systems from $240.00 to $272.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Morgan Stanley upped their target price on shares of Veeva Systems from $183.00 to $195.00 and gave the company an “underweight” rating in a research report on Tuesday, December 17th. BNP Paribas initiated coverage on shares of Veeva Systems in a research report on Tuesday, October 8th. They set an “outperform” rating and a $286.00 price target for the company. Needham & Company LLC restated a “buy” rating and issued a $270.00 price objective on shares of Veeva Systems in a report on Friday, January 17th. Finally, Citigroup lifted their target price on shares of Veeva Systems from $281.00 to $307.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $253.96.

Insiders Place Their Bets

In related news, insider Thomas D. Schwenger sold 1,126 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $240.01, for a total transaction of $270,251.26. Following the transaction, the insider now directly owns 27,013 shares of the company’s stock, valued at approximately $6,483,390.13. The trade was a 4.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jonathan Faddis sold 1,694 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total value of $390,128.20. Following the sale, the senior vice president now directly owns 8,061 shares of the company’s stock, valued at $1,856,448.30. This represents a 17.37 % decrease in their position. The disclosure for this sale can be found here. 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.