Veeva Systems Inc. $VEEV Shares Bought by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. grew its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 75.3% during the second quarter, Holdings Channel.com reports. The firm owned 749,418 shares of the technology company’s stock after buying an additional 321,853 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Veeva Systems were worth $215,817,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Veeva Systems by 2.2% during the first quarter. Vanguard Group Inc. now owns 14,760,566 shares of the technology company’s stock valued at $3,418,990,000 after buying an additional 315,421 shares in the last quarter. Alliancebernstein L.P. boosted its stake in Veeva Systems by 10.7% during the first quarter. Alliancebernstein L.P. now owns 5,499,651 shares of the technology company’s stock valued at $1,273,884,000 after buying an additional 532,269 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in Veeva Systems by 0.7% during the first quarter. T. Rowe Price Investment Management Inc. now owns 5,203,867 shares of the technology company’s stock valued at $1,205,372,000 after buying an additional 34,169 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Veeva Systems by 20.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,992,372 shares of the technology company’s stock valued at $924,754,000 after buying an additional 689,700 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Veeva Systems by 7.5% during the first quarter. JPMorgan Chase & Co. now owns 3,230,758 shares of the technology company’s stock valued at $748,341,000 after buying an additional 225,125 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

Insider Transactions at Veeva Systems

In other Veeva Systems news, Director Priscilla Hung sold 171 shares of the firm’s stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $284.40, for a total transaction of $48,632.40. Following the completion of the sale, the director directly owned 3,966 shares in the company, valued at approximately $1,127,930.40. This trade represents a 4.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Jonathan Faddis sold 720 shares of the firm’s stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $285.62, for a total value of $205,646.40. Following the sale, the senior vice president owned 7,902 shares of the company’s stock, valued at $2,256,969.24. The trade was a 8.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 10.30% of the company’s stock.

Veeva Systems Trading Down 1.5%

Shares of NYSE VEEV opened at $293.44 on Thursday. Veeva Systems Inc. has a one year low of $200.30 and a one year high of $299.95. The firm has a market capitalization of $48.10 billion, a PE ratio of 60.26, a PEG ratio of 2.30 and a beta of 0.98. The business has a 50-day moving average price of $281.39 and a two-hundred day moving average price of $261.90.

Analyst Ratings Changes

VEEV has been the subject of several research reports. Canaccord Genuity Group raised their target price on Veeva Systems from $270.00 to $300.00 and gave the company a “hold” rating in a research note on Thursday, August 28th. Truist Financial raised their target price on Veeva Systems from $268.00 to $275.00 and gave the company a “hold” rating in a research note on Thursday, August 28th. Oppenheimer reaffirmed an “outperform” rating and set a $325.00 target price on shares of Veeva Systems in a research note on Thursday, August 28th. Stifel Nicolaus increased their price target on Veeva Systems from $295.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. Finally, KeyCorp increased their price target on Veeva Systems from $285.00 to $325.00 and gave the company an “overweight” rating in a research report on Monday, July 14th. Sixteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $303.67.

About Veeva Systems

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.