Bell Asset Management Ltd Has $3.45 Million Holdings in Veeva Systems Inc. (NYSE:VEEV)

Bell Asset Management Ltd lessened its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 20.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,407 shares of the technology company’s stock after selling 4,144 shares during the period. Bell Asset Management Ltd’s holdings in Veeva Systems were worth $3,450,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in Veeva Systems in the 4th quarter worth about $294,785,000. Principal Financial Group Inc. increased its holdings in shares of Veeva Systems by 138.9% during the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock worth $457,366,000 after purchasing an additional 1,267,061 shares during the period. JPMorgan Chase & Co. raised its position in shares of Veeva Systems by 73.2% in the third 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 in the last quarter. Wealthfront Advisers LLC boosted its stake in shares of Veeva Systems by 29,760.5% in the fourth quarter. Wealthfront Advisers LLC now owns 1,048,700 shares of the technology company’s stock valued at $220,489,000 after buying an additional 1,045,188 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Veeva Systems in the fourth quarter valued at approximately $95,710,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insider Transactions at Veeva Systems

In other news, SVP Jonathan Faddis sold 787 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total value of $178,019.40. Following the transaction, the senior vice president now directly owns 8,668 shares of the company’s stock, valued at $1,960,701.60. The trade was a 8.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 10.50% of the company’s stock.

Veeva Systems Price Performance

Veeva Systems stock opened at $213.59 on Monday. The stock’s 50 day moving average is $231.73 and its 200 day moving average is $223.12. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93. The firm has a market cap of $34.75 billion, a P/E ratio of 52.74, a P/E/G ratio of 1.89 and a beta of 1.05.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Needham & Company LLC restated a “buy” rating and set a $270.00 price objective on shares of Veeva Systems in a research note on Thursday, March 6th. KeyCorp decreased their price target on Veeva Systems from $285.00 to $255.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. JPMorgan Chase & Co. upped their price objective on shares of Veeva Systems from $218.00 to $249.00 and gave the stock a “neutral” rating in a research report on Thursday, March 20th. Citigroup increased their price objective on shares of Veeva Systems from $281.00 to $307.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Finally, The Goldman Sachs Group cut shares of Veeva Systems from a “buy” rating to a “sell” rating and dropped their target price for the company from $261.00 to $200.00 in a research report on Thursday, January 23rd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Veeva Systems has a consensus rating of “Moderate Buy” and an average target price of $256.52.

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.