Robeco Institutional Asset Management B.V. Has $70.52 Million Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Robeco Institutional Asset Management B.V. lifted its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 117.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 335,397 shares of the technology company’s stock after purchasing an additional 181,493 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Veeva Systems were worth $70,517,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA lifted its position 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 valued at $744,084,000 after buying an additional 1,392,256 shares during the last quarter. State Street Corp raised its stake in Veeva Systems by 1.5% in the 3rd quarter. State Street Corp now owns 3,293,141 shares of the technology company’s stock valued at $691,132,000 after acquiring an additional 47,872 shares during the period. FMR LLC lifted its holdings 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 during the last quarter. Geode Capital Management LLC boosted its position 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 worth $579,630,000 after purchasing an additional 149,807 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings 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 purchasing an additional 1,081,501 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on VEEV shares. Needham & Company LLC restated a “buy” rating and set a $270.00 target price on shares of Veeva Systems in a research note on Friday, January 17th. The Goldman Sachs Group downgraded shares of Veeva Systems from a “buy” rating to a “sell” rating and cut their price objective for the stock from $261.00 to $200.00 in a research report on Thursday, January 23rd. Bank of America upped their target price on Veeva Systems from $280.00 to $290.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Robert W. Baird lifted their price target on Veeva Systems from $275.00 to $283.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Finally, Wells Fargo & Company upped their price objective on Veeva Systems from $275.00 to $285.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Veeva Systems presently has an average rating of “Moderate Buy” and a consensus price target of $253.96.

Veeva Systems Stock Up 0.2 %

NYSE VEEV opened at $232.65 on Thursday. The company has a market cap of $37.77 billion, a price-to-earnings ratio of 57.44, a price-to-earnings-growth ratio of 2.01 and a beta of 0.84. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93. The business’s fifty day moving average is $222.31 and its 200 day moving average is $211.88.

Insider Activity

In related news, SVP Jonathan Faddis sold 1,694 shares of the business’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 owns 8,061 shares of the company’s stock, valued at $1,856,448.30. The trade was a 17.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Thomas D. Schwenger sold 1,126 shares of the 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 sale, the insider now owns 27,013 shares of the company’s stock, valued at $6,483,390.13. The trade was a 4.00 % decrease in their ownership of the stock. 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.