American Century Companies Inc. Has $83 Million Position in Veeva Systems Inc. (NYSE:VEEV)

American Century Companies Inc. raised its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 4.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 453,505 shares of the technology company’s stock after buying an additional 20,514 shares during the quarter. American Century Companies Inc. owned about 0.28% of Veeva Systems worth $82,996,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of VEEV. Advisors Asset Management Inc. acquired a new position in shares of Veeva Systems during the 1st quarter worth about $28,000. DSM Capital Partners LLC acquired a new position in shares of Veeva Systems during the 4th quarter worth about $29,000. Vermillion & White Wealth Management Group LLC bought a new position in shares of Veeva Systems during the 4th quarter valued at about $32,000. Blue Trust Inc. grew its position in shares of Veeva Systems by 3,460.0% in the 2nd quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock valued at $33,000 after purchasing an additional 173 shares during the period. Finally, First Financial Corp IN bought a new stake in Veeva Systems during the 1st quarter worth approximately $35,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Jonathan Faddis sold 2,353 shares of Veeva Systems stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total transaction of $470,600.00. Following the completion of the sale, the senior vice president now owns 9,035 shares of the company’s stock, valued at approximately $1,807,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 10.50% of the stock is currently owned by insiders.

Veeva Systems Price Performance

Shares of VEEV opened at $217.95 on Friday. The firm has a 50-day moving average of $196.14 and a 200-day moving average of $201.88. Veeva Systems Inc. has a one year low of $162.72 and a one year high of $236.90. The company has a market cap of $35.23 billion, a PE ratio of 64.29, a price-to-earnings-growth ratio of 2.14 and a beta of 0.81.

Analyst Ratings Changes

A number of research firms recently issued reports on VEEV. Bank of America increased their target price on Veeva Systems from $204.00 to $240.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Evercore ISI dropped their price objective on shares of Veeva Systems from $230.00 to $200.00 and set an “in-line” rating on the stock in a report on Friday, May 31st. Morgan Stanley dropped their price objective on shares of Veeva Systems from $210.00 to $173.00 and set an “underweight” rating on the stock in a report on Friday, May 31st. Robert W. Baird raised their price objective on shares of Veeva Systems from $245.00 to $251.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Veeva Systems from $203.00 to $208.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $229.96.

About Veeva Systems

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.