Allianz Asset Management GmbH Acquires 132,633 Shares of Veeva Systems Inc. (NYSE:VEEV)

by · The Markets Daily

Allianz Asset Management GmbH boosted its holdings in Veeva Systems Inc. (NYSE:VEEV – Free Report) by 31.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 548,493 shares of the technology company’s stock after purchasing an additional 132,633 shares during the period. Allianz Asset Management GmbH’s holdings in Veeva Systems were worth $115,321,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB grew its stake in shares of Veeva Systems by 72.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock worth $25,000 after acquiring an additional 50 shares during the last quarter. Centricity Wealth Management LLC bought a new stake in Veeva Systems in the 4th quarter valued at $25,000. True Wealth Design LLC grew its position in Veeva Systems by 3,375.0% in the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock worth $29,000 after purchasing an additional 135 shares during the last quarter. Retirement Wealth Solutions LLC bought a new position in shares of Veeva Systems during the 4th quarter worth about $31,000. Finally, Avion Wealth raised its position in shares of Veeva Systems by 635.0% during the fourth quarter. Avion Wealth now owns 147 shares of the technology company’s stock valued at $30,000 after buying an additional 127 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and set a $270.00 target price on shares of Veeva Systems in a research report on Friday, January 17th. JPMorgan Chase & Co. upped their target price on Veeva Systems from $208.00 to $218.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. Robert W. Baird raised their target price on Veeva Systems from $275.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Barclays boosted their price target on shares of Veeva Systems from $260.00 to $275.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Finally, Scotiabank increased their price objective on shares of Veeva Systems from $235.00 to $240.00 and gave the company a “sector perform” rating in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $253.96.

Check Out Our Latest Stock Report on Veeva Systems

Veeva Systems Stock Performance

Shares of VEEV opened at $226.10 on Friday. The company has a market cap of $36.71 billion, a price-to-earnings ratio of 55.83, a PEG ratio of 1.89 and a beta of 0.85. The stock has a fifty day moving average price of $223.81 and a two-hundred day moving average price of $217.11. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93.

Insider Activity at Veeva Systems

In related news, SVP Jonathan Faddis sold 1,694 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 8,061 shares of the company’s stock, valued at $1,856,448.30. This trade represents a 17.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 10.50% of the stock is currently owned by company insiders.

Veeva Systems Profile

(Free Report)

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.

Further Reading

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