Bessemer Group Inc. Has $477,000 Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Bessemer Group Inc. grew its position in Veeva Systems Inc. (NYSE:VEEV) by 27.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,268 shares of the technology company’s stock after purchasing an additional 491 shares during the quarter. Bessemer Group Inc.’s holdings in Veeva Systems were worth $477,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of VEEV. Martingale Asset Management L P grew its position in shares of Veeva Systems by 11.9% in the fourth quarter. Martingale Asset Management L P now owns 4,840 shares of the technology company’s stock valued at $1,018,000 after purchasing an additional 515 shares during the last quarter. Azimuth Capital Investment Management LLC boosted its stake in Veeva Systems by 28.5% during the 4th quarter. Azimuth Capital Investment Management LLC now owns 44,644 shares of the technology company’s stock valued at $9,386,000 after purchasing an additional 9,914 shares during the period. Faithward Advisors LLC grew its holdings in Veeva Systems by 2.0% in the 4th quarter. Faithward Advisors LLC now owns 19,349 shares of the technology company’s stock valued at $4,068,000 after buying an additional 372 shares during the last quarter. APG Asset Management N.V. grew its holdings in Veeva Systems by 483.4% in the 4th quarter. APG Asset Management N.V. now owns 90,382 shares of the technology company’s stock valued at $18,351,000 after buying an additional 74,891 shares during the last quarter. Finally, Advisory Services Network LLC increased its position in Veeva Systems by 30.4% in the 4th quarter. Advisory Services Network LLC now owns 4,673 shares of the technology company’s stock worth $982,000 after buying an additional 1,090 shares during the period. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Stock Down 0.6 %

Shares of VEEV stock opened at $222.30 on Wednesday. The firm has a market cap of $36.17 billion, a price-to-earnings ratio of 54.89, a PEG ratio of 1.89 and a beta of 1.05. Veeva Systems Inc. has a 12 month low of $170.25 and a 12 month high of $258.93. The stock has a 50-day moving average price of $228.44 and a 200 day moving average price of $223.27.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. StockNews.com upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. The Goldman Sachs Group lowered shares of Veeva Systems from a “buy” rating to a “sell” rating and decreased their price target for the stock from $261.00 to $200.00 in a research report on Thursday, January 23rd. KeyCorp cut their price objective on shares of Veeva Systems from $285.00 to $255.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Robert W. Baird lifted their target price on Veeva Systems from $283.00 to $285.00 and gave the stock an “outperform” rating in a research report on Thursday, March 6th. Finally, Stephens reaffirmed an “overweight” rating and issued a $280.00 price target on shares of Veeva Systems in a report on Thursday, March 6th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $256.52.

Insider Transactions at Veeva Systems

In other news, Director Timothy S. Cabral sold 3,882 shares of the company’s stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $216.83, for a total value of $841,734.06. Following the completion of the sale, the director now directly owns 5,500 shares of the company’s stock, valued at $1,192,565. This represents a 41.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Jonathan Faddis sold 787 shares of Veeva Systems stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total transaction of $178,019.40. Following the transaction, the senior vice president now directly owns 8,668 shares in the company, valued at $1,960,701.60. The trade was a 8.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,869 shares of company stock worth $1,284,917 in the last quarter. 10.50% of the stock is owned by company insiders.

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.