Veeva Systems Inc. (NYSE:VEEV) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its stake in Veeva Systems Inc. (NYSE:VEEV) by 73.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,558,592 shares of the technology company’s stock after buying an additional 1,081,501 shares during the period. JPMorgan Chase & Co.’s holdings in Veeva Systems were worth $536,972,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of Veeva Systems in the third quarter valued at $26,000. True Wealth Design LLC lifted its holdings 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 valued at $29,000 after acquiring an additional 135 shares during the last quarter. Fairscale Capital LLC acquired a new position in shares of Veeva Systems in the 2nd quarter worth approximately $46,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Veeva Systems in the 3rd quarter worth approximately $49,000. Finally, ANTIPODES PARTNERS Ltd bought a new stake in shares of Veeva Systems in the 2nd quarter worth approximately $52,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Price Performance

Veeva Systems stock opened at $214.01 on Friday. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93. The firm has a fifty day moving average price of $223.24 and a two-hundred day moving average price of $206.55. The firm has a market cap of $34.74 billion, a price-to-earnings ratio of 52.84, a P/E/G ratio of 2.03 and a beta of 0.82.

Insider Buying and Selling

In related news, insider Thomas D. Schwenger sold 1,126 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.01, for a total transaction of $270,251.26. Following the transaction, the insider now owns 27,013 shares of the company’s stock, valued at approximately $6,483,390.13. The trade was a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Jonathan Faddis sold 1,694 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was 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 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 insiders.

Analyst Ratings Changes

VEEV has been the topic of several recent research reports. StockNews.com upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. Royal Bank of Canada lifted their target price on Veeva Systems from $275.00 to $285.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Needham & Company LLC upped their target price on Veeva Systems from $260.00 to $270.00 and gave the company a “buy” rating in a report on Friday, December 6th. Scotiabank lifted their price target on Veeva Systems from $235.00 to $240.00 and gave the stock a “sector perform” rating in a research note on Friday, December 6th. Finally, Stifel Nicolaus raised their target price on shares of Veeva Systems from $240.00 to $272.00 and gave the stock a “buy” rating in a report on Friday, December 6th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, Veeva Systems currently has an average rating of “Moderate Buy” and a consensus price target of $257.44.

Veeva Systems 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.