Huntington National Bank lessened its position in Veeva Systems Inc (NYSE:VEEV) by 6.0% in the first quarter, Holdings Channel reports. The institutional investor owned 1,437 shares of the technology company’s stock after selling 92 shares during the period. Huntington National Bank’s holdings in Veeva Systems were worth $182,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the company. FMR LLC raised its position in shares of Veeva Systems by 63.4% in the fourth quarter. FMR LLC now owns 5,926,515 shares of the technology company’s stock valued at $529,357,000 after buying an additional 2,300,472 shares during the last quarter. First Trust Advisors LP raised its position in shares of Veeva Systems by 4.5% in the fourth quarter. First Trust Advisors LP now owns 2,407,957 shares of the technology company’s stock valued at $215,079,000 after buying an additional 102,884 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Veeva Systems by 15.9% in the fourth quarter. Geode Capital Management LLC now owns 1,307,248 shares of the technology company’s stock valued at $116,693,000 after buying an additional 179,262 shares during the last quarter. Norges Bank purchased a new stake in Veeva Systems in the fourth quarter valued at approximately $97,108,000. Finally, Two Sigma Advisers LP grew its holdings in Veeva Systems by 56.1% in the fourth quarter. Two Sigma Advisers LP now owns 1,036,900 shares of the technology company’s stock valued at $92,616,000 after purchasing an additional 372,700 shares during the period. 78.45% of the stock is owned by institutional investors and hedge funds.
VEEV opened at $134.75 on Monday. Veeva Systems Inc has a 52-week low of $68.11 and a 52-week high of $137.26. The company has a market cap of $19.84 billion, a price-to-earnings ratio of 108.67, a price-to-earnings-growth ratio of 5.98 and a beta of 1.72.
In other Veeva Systems news, EVP Alan Mateo sold 622 shares of the business’s stock in a transaction that occurred on Tuesday, January 15th. The shares were sold at an average price of $97.61, for a total transaction of $60,713.42. Following the completion of the sale, the executive vice president now directly owns 26,379 shares in the company, valued at $2,574,854.19. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Timothy S. Cabral sold 48,765 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $113.91, for a total transaction of $5,554,821.15. Following the sale, the chief financial officer now owns 23,074 shares of the company’s stock, valued at $2,628,359.34. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 127,388 shares of company stock valued at $14,903,231. 15.97% of the stock is owned by insiders.
VEEV has been the subject of a number of recent analyst reports. Stephens initiated coverage on shares of Veeva Systems in a report on Wednesday, January 16th. They issued an “equal weight” rating and a $113.00 target price for the company. Zacks Investment Research downgraded shares of Veeva Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 30th. ValuEngine upgraded shares of Veeva Systems from a “buy” rating to a “strong-buy” rating in a report on Monday, February 4th. Barclays initiated coverage on shares of Veeva Systems in a report on Wednesday, February 20th. They issued an “equal weight” rating and a $130.00 target price for the company. Finally, Morgan Stanley boosted their target price on shares of Veeva Systems from $112.00 to $123.00 and gave the company an “overweight” rating in a report on Monday, February 25th. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $118.82.
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Veeva Systems Profile
Veeva Systems, Inc engages in the provision of industry-specific, cloud-based software solutions for the life sciences industry. Its solutions enable pharmaceutical and other life sciences companies to realize the benefits of modern cloud-based architectures and mobile applications for their most critical business functions, without compromising industry-specific functionality or regulatory compliance.
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