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

Robeco Institutional Asset Management B.V. grew its holdings in Veeva Systems Inc. (NYSE:VEEV) by 117.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 335,397 shares of the technology company’s stock after buying an additional 181,493 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.21% of Veeva Systems worth $70,517,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB raised its stake in Veeva Systems by 72.5% during 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 in the last quarter. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Veeva Systems in the 3rd quarter worth about $26,000. True Wealth Design LLC increased its position in shares of Veeva Systems by 3,375.0% during 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 in the last quarter. Retirement Wealth Solutions LLC bought a new position in Veeva Systems during the 4th quarter valued at about $31,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in Veeva Systems in the third quarter valued at about $49,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Trading Up 0.2 %

NYSE:VEEV opened at $232.65 on Thursday. The stock has a market cap of $37.77 billion, a price-to-earnings ratio of 57.44, a PEG ratio of 2.01 and a beta of 0.84. The stock has a 50-day moving average price of $222.31 and a two-hundred day moving average price of $211.88. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93.

Insider Buying and Selling

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $240.01, for a total transaction of $270,251.26. Following the completion of the transaction, the insider now owns 27,013 shares of the company’s stock, valued at $6,483,390.13. This represents a 4.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Jonathan Faddis sold 1,694 shares of Veeva Systems stock in a transaction that occurred on Wednesday, December 4th. The shares were 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 owns 8,061 shares in the company, valued at $1,856,448.30. This trade represents a 17.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on VEEV. StockNews.com cut shares of Veeva Systems from a “buy” rating to a “hold” rating in a research note on Thursday, January 23rd. JPMorgan Chase & Co. boosted their price objective on Veeva Systems from $208.00 to $218.00 and gave the stock a “neutral” rating in a research note on Monday, December 16th. Canaccord Genuity Group increased their target price on Veeva Systems from $210.00 to $270.00 and gave the stock a “hold” rating in a report on Friday, December 6th. KeyCorp cut their price target on Veeva Systems from $285.00 to $255.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Finally, The Goldman Sachs Group lowered shares of Veeva Systems from a “buy” rating to a “sell” rating and decreased their price objective for the stock from $261.00 to $200.00 in a report on Thursday, January 23rd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $253.96.

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.