Strategic Planning Group LLC Has $4.43 Million Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Strategic Planning Group LLC grew its position in Veeva Systems Inc. (NYSE:VEEV) by 2.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 21,068 shares of the technology company’s stock after buying an additional 411 shares during the period. Strategic Planning Group LLC’s holdings in Veeva Systems were worth $4,430,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in VEEV. Massachusetts Financial Services Co. MA boosted its position in shares of 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 worth $744,084,000 after purchasing an additional 1,392,256 shares during the last quarter. State Street Corp grew its position in shares of Veeva Systems by 1.5% during the 3rd quarter. State Street Corp now owns 3,293,141 shares of the technology company’s stock worth $691,132,000 after buying an additional 47,872 shares during the period. FMR LLC increased 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 acquiring an additional 610,021 shares during the last quarter. Geode Capital Management LLC grew its holdings in Veeva Systems by 5.7% during the third 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. Finally, JPMorgan Chase & Co. raised its holdings in Veeva Systems by 73.2% in the third quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company’s stock worth $536,972,000 after purchasing an additional 1,081,501 shares during the period. 88.20% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Veeva Systems

In related news, SVP Jonathan Faddis sold 1,694 shares of Veeva Systems stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 8,061 shares of the company’s stock, valued at approximately $1,856,448.30. This trade represents a 17.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Thomas D. Schwenger sold 1,126 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.01, for a total value of $270,251.26. Following the completion of the transaction, the insider now directly owns 27,013 shares in the company, valued at approximately $6,483,390.13. This represents a 4.00 % 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 corporate insiders.

Veeva Systems Price Performance

Shares of Veeva Systems stock opened at $232.65 on Thursday. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93. The company has a market capitalization of $37.77 billion, a price-to-earnings ratio of 57.44, a P/E/G ratio of 2.01 and a beta of 0.84. The business has a fifty day simple moving average of $222.31 and a two-hundred day simple moving average of $211.88.

Analyst Ratings Changes

VEEV has been the subject of a number of recent analyst reports. Robert W. Baird upped their price objective on shares of Veeva Systems from $275.00 to $283.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. increased 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. Piper Sandler lifted their price objective on Veeva Systems from $280.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Scotiabank boosted their price objective on Veeva Systems from $235.00 to $240.00 and gave the company a “sector perform” rating in a research report on Friday, December 6th. Finally, Barclays raised their target price on shares of Veeva Systems from $260.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $253.96.

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.