World Investment Advisors LLC Invests $2.13 Million in Veeva Systems Inc. (NYSE:VEEV)

World Investment Advisors LLC purchased a new stake in Veeva Systems Inc. (NYSE:VEEV) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 10,155 shares of the technology company’s stock, valued at approximately $2,131,000.

Several other large investors have also made changes to their positions in VEEV. Massachusetts Financial Services Co. MA lifted its stake in Veeva Systems by 64.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company’s stock valued at $744,084,000 after acquiring an additional 1,392,256 shares during the last quarter. State Street Corp lifted its stake in shares of Veeva Systems by 1.5% in the 3rd quarter. State Street Corp now owns 3,293,141 shares of the technology company’s stock valued at $691,132,000 after purchasing an additional 47,872 shares during the last quarter. FMR LLC boosted its holdings in Veeva Systems by 25.7% in the third quarter. FMR LLC now owns 2,981,244 shares of the technology company’s stock worth $625,674,000 after purchasing an additional 610,021 shares in the last quarter. Geode Capital Management LLC increased its position in Veeva Systems by 5.7% during the third quarter. Geode Capital Management LLC now owns 2,765,236 shares of the technology company’s stock worth $579,630,000 after buying an additional 149,807 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in Veeva Systems by 138.9% during the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock valued at $457,366,000 after buying an additional 1,267,061 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Performance

Shares of VEEV stock opened at $228.78 on Friday. The firm has a fifty day moving average of $221.36 and a 200-day moving average of $204.01. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93. The stock has a market cap of $37.14 billion, a price-to-earnings ratio of 56.49, a P/E/G ratio of 2.03 and a beta of 0.82.

Analysts Set New Price Targets

Several analysts have recently issued reports on VEEV shares. Raymond James upped their price target on Veeva Systems from $230.00 to $235.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Piper Sandler increased their price target on Veeva Systems from $280.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Stifel Nicolaus lifted their price target on shares of Veeva Systems from $240.00 to $272.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Royal Bank of Canada upped their price objective on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Finally, Mizuho started coverage on shares of Veeva Systems in a report on Wednesday, December 4th. They issued an “outperform” rating and a $275.00 target price on the stock. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $255.35.

Insider Buying and Selling

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.01, for a total value of $270,251.26. Following the transaction, the insider now directly owns 27,013 shares in the company, valued at $6,483,390.13. The trade was a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jonathan Faddis sold 1,694 shares of the firm’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 8,061 shares of the company’s stock, valued at approximately $1,856,448.30. The trade was a 17.37 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 10.50% of the company’s stock.

Veeva Systems Company 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.