E. Ohman J or Asset Management AB Buys 9,800 Shares of Veeva Systems Inc. (NYSE:VEEV)

E. Ohman J or Asset Management AB lifted its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 5.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 185,987 shares of the technology company’s stock after purchasing an additional 9,800 shares during the quarter. Veeva Systems accounts for 0.9% of E. Ohman J or Asset Management AB’s holdings, making the stock its 28th biggest holding. E. Ohman J or Asset Management AB owned approximately 0.11% of Veeva Systems worth $39,104,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Massachusetts Financial Services Co. MA lifted its holdings in shares of Veeva Systems by 64.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company’s stock worth $744,084,000 after acquiring an additional 1,392,256 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of 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 during the period. JPMorgan Chase & Co. grew its stake in shares of Veeva Systems by 73.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company’s stock valued at $536,972,000 after buying an additional 1,081,501 shares during the period. FMR LLC increased its stake in Veeva Systems by 25.7% during 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 in the last quarter. Finally, Seilern Investment Management Ltd purchased a new stake in shares of Veeva Systems in the fourth quarter worth approximately $94,957,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insider Activity at Veeva Systems

In related news, insider Thomas D. Schwenger sold 1,126 shares of the company’s stock in a transaction dated 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 $6,483,390.13. This represents a 4.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Jonathan Faddis sold 1,694 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total transaction of $390,128.20. Following the completion of the sale, the senior vice president now directly owns 8,061 shares in the company, valued at approximately $1,856,448.30. The trade was a 17.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.50% of the stock is currently owned by insiders.

Veeva Systems Stock Up 0.1 %

VEEV stock opened at $233.38 on Tuesday. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93. The stock has a market capitalization of $37.89 billion, a price-to-earnings ratio of 57.63, a price-to-earnings-growth ratio of 2.05 and a beta of 0.85. The firm’s fifty day simple moving average is $223.55 and its two-hundred day simple moving average is $212.93.

Analyst Ratings Changes

A number of analysts recently commented on the company. JPMorgan Chase & Co. lifted their price target on Veeva Systems from $208.00 to $218.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. Needham & Company LLC reissued a “buy” rating and issued a $270.00 price target on shares of Veeva Systems in a report on Friday, January 17th. StockNews.com cut Veeva Systems from a “buy” rating to a “hold” rating in a research note on Thursday, January 23rd. Royal Bank of Canada raised their price objective on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Finally, Bank of America upped their price target on Veeva Systems from $280.00 to $290.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $253.96.

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.