LGT Fund Management Co Ltd. Has $2.25 Million Stock Position in Veeva Systems Inc. (NYSE:VEEV)

LGT Fund Management Co Ltd. grew its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 216.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,289 shares of the technology company’s stock after buying an additional 8,407 shares during the period. LGT Fund Management Co Ltd.’s holdings in Veeva Systems were worth $2,249,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. National Bank of Canada FI lifted its holdings in Veeva Systems by 8.2% during the fourth quarter. National Bank of Canada FI now owns 13,318 shares of the technology company’s stock worth $2,519,000 after acquiring an additional 1,005 shares in the last quarter. Private Advisor Group LLC increased its stake in Veeva Systems by 9.5% during the 4th quarter. Private Advisor Group LLC now owns 8,548 shares of the technology company’s stock worth $1,646,000 after purchasing an additional 741 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Veeva Systems by 127.8% during the 4th quarter. BNP Paribas Financial Markets now owns 68,041 shares of the technology company’s stock worth $13,099,000 after purchasing an additional 38,175 shares in the last quarter. AGF Management Ltd. bought a new stake in Veeva Systems during the 4th quarter worth approximately $357,000. Finally, Dimensional Fund Advisors LP raised its holdings in Veeva Systems by 5.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 280,098 shares of the technology company’s stock worth $53,926,000 after buying an additional 14,062 shares during the period. 88.20% of the stock is owned by institutional investors.

Veeva Systems Price Performance

Shares of Veeva Systems stock opened at $222.66 on Tuesday. The company’s 50 day moving average price is $193.05 and its two-hundred day moving average price is $201.79. The firm has a market capitalization of $35.99 billion, a P/E ratio of 65.68, a P/E/G ratio of 2.11 and a beta of 0.81. Veeva Systems Inc. has a fifty-two week low of $162.72 and a fifty-two week high of $236.90.

Analyst Upgrades and Downgrades

VEEV has been the subject of several research reports. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 price objective on shares of Veeva Systems in a research report on Thursday, August 29th. Canaccord Genuity Group cut their price objective on shares of Veeva Systems from $220.00 to $210.00 and set a “hold” rating on the stock in a research report on Friday, May 31st. UBS Group upped their price objective on Veeva Systems from $185.00 to $215.00 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Robert W. Baird boosted their target price on shares of Veeva Systems from $245.00 to $251.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Finally, Evercore ISI cut their price target on shares of Veeva Systems from $230.00 to $200.00 and set an “in-line” rating for the company in a research note on Friday, May 31st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, Veeva Systems has an average rating of “Moderate Buy” and an average target price of $229.96.

Insider Buying and Selling

In related news, SVP Jonathan Faddis sold 2,353 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total value of $470,600.00. Following the completion of the transaction, the senior vice president now owns 9,035 shares in the company, valued at approximately $1,807,000. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 10.50% of the stock is currently owned by corporate insiders.

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.