Veeva Systems Inc. (NYSE:VEEV) Shares Acquired by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd grew its position in Veeva Systems Inc. (NYSE:VEEV) by 465.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,074 shares of the technology company’s stock after acquiring an additional 5,000 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Veeva Systems were worth $1,112,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Advisors Asset Management Inc. purchased a new position in Veeva Systems in the first quarter worth $28,000. DSM Capital Partners LLC purchased a new position in Veeva Systems in the fourth quarter worth $29,000. First Financial Corp IN purchased a new position in Veeva Systems in the first quarter worth $35,000. Larson Financial Group LLC raised its position in Veeva Systems by 1,153.8% in the first quarter. Larson Financial Group LLC now owns 163 shares of the technology company’s stock worth $38,000 after acquiring an additional 150 shares in the last quarter. Finally, Vermillion & White Wealth Management Group LLC purchased a new position in Veeva Systems in the fourth quarter worth $32,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Price Performance

Veeva Systems stock opened at $217.06 on Tuesday. The stock’s 50-day moving average is $196.82 and its 200-day moving average is $201.66. The company has a market cap of $35.09 billion, a price-to-earnings ratio of 64.03, a price-to-earnings-growth ratio of 2.14 and a beta of 0.81. Veeva Systems Inc. has a 12 month low of $162.72 and a 12 month high of $236.90.

Insider Activity at Veeva Systems

In related news, SVP Jonathan Faddis sold 2,353 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total transaction of $470,600.00. Following the sale, the senior vice president now directly owns 9,035 shares in the company, valued at approximately $1,807,000. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 10.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Citigroup increased their price objective on Veeva Systems from $256.00 to $273.00 and gave the stock a “buy” rating in a research report on Tuesday, August 27th. JPMorgan Chase & Co. upped their target price on Veeva Systems from $203.00 to $208.00 and gave the company a “neutral” rating in a report on Monday, September 9th. Robert W. Baird upped their target price on Veeva Systems from $245.00 to $251.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 target price on shares of Veeva Systems in a report on Thursday, August 29th. Finally, Barclays upped their target price on Veeva Systems from $220.00 to $240.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, Veeva Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $229.96.

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.