Elo Mutual Pension Insurance Co Has $2.57 Million Stake in Veeva Systems Inc. (NYSE:VEEV)

Elo Mutual Pension Insurance Co grew its position in Veeva Systems Inc. (NYSE:VEEV) by 0.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,047 shares of the technology company’s stock after purchasing an additional 70 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Veeva Systems were worth $2,571,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Veeva Systems by 7.5% during the 1st quarter. Vanguard Group Inc. now owns 14,150,070 shares of the technology company’s stock worth $3,278,430,000 after acquiring an additional 991,208 shares during the period. Swedbank AB acquired a new stake in Veeva Systems during the first quarter worth approximately $227,673,000. Principal Financial Group Inc. increased its holdings in Veeva Systems by 1,122.3% in the second quarter. Principal Financial Group Inc. now owns 912,223 shares of the technology company’s stock worth $166,946,000 after purchasing an additional 837,593 shares in the last quarter. Matrix Capital Management Company LP lifted its stake in Veeva Systems by 635.4% in the first quarter. Matrix Capital Management Company LP now owns 498,821 shares of the technology company’s stock valued at $115,572,000 after buying an additional 430,989 shares during the period. Finally, Acadian Asset Management LLC boosted its holdings in shares of Veeva Systems by 83.8% during the 1st quarter. Acadian Asset Management LLC now owns 618,344 shares of the technology company’s stock worth $143,235,000 after buying an additional 281,993 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Down 0.5 %

Shares of NYSE VEEV opened at $214.42 on Friday. The company has a market capitalization of $34.72 billion, a PE ratio of 63.25, a PEG ratio of 2.12 and a beta of 0.81. The stock’s 50 day moving average price is $198.72 and its 200-day moving average price is $201.80. Veeva Systems Inc. has a twelve month low of $162.72 and a twelve month high of $236.90.

Analyst Ratings Changes

Several analysts have recently weighed in on VEEV shares. Canaccord Genuity Group lowered their price objective on shares of Veeva Systems from $220.00 to $210.00 and set a “hold” rating for the company in a research note on Friday, May 31st. Raymond James lifted their price target on shares of Veeva Systems from $230.00 to $235.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. UBS Group increased their price objective on shares of Veeva Systems from $185.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Bank of America boosted their target price on Veeva Systems from $204.00 to $240.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Finally, Robert W. Baird upped their price target on Veeva Systems from $245.00 to $251.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $229.96.

Insider Buying and Selling

In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.