Hancock Whitney Corp Has $13.32 Million Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Hancock Whitney Corp increased its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 29.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 72,806 shares of the technology company’s stock after buying an additional 16,682 shares during the quarter. Hancock Whitney Corp’s holdings in Veeva Systems were worth $13,324,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Veeva Systems by 7.5% during the first quarter. Vanguard Group Inc. now owns 14,150,070 shares of the technology company’s stock worth $3,278,430,000 after purchasing an additional 991,208 shares during the period. Swedbank AB acquired a new stake in Veeva Systems during the 1st quarter worth approximately $227,673,000. Principal Financial Group Inc. lifted its stake in Veeva Systems by 1,122.3% in the second quarter. Principal Financial Group Inc. now owns 912,223 shares of the technology company’s stock valued at $166,946,000 after buying an additional 837,593 shares in the last quarter. Matrix Capital Management Company LP boosted its holdings in shares of Veeva Systems by 635.4% in the first quarter. Matrix Capital Management Company LP now owns 498,821 shares of the technology company’s stock valued at $115,572,000 after buying an additional 430,989 shares during the period. Finally, Acadian Asset Management LLC increased its position in shares of Veeva Systems by 83.8% during the first quarter. Acadian Asset Management LLC now owns 618,344 shares of the technology company’s stock worth $143,235,000 after acquiring an additional 281,993 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Guggenheim boosted their price objective on shares of Veeva Systems from $211.00 to $233.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Truist Financial increased their price objective on Veeva Systems from $197.00 to $207.00 and gave the stock a “hold” rating in a report on Tuesday, September 3rd. JPMorgan Chase & Co. boosted their target price on Veeva Systems from $203.00 to $208.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. UBS Group upped their price target on Veeva Systems from $185.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price objective on shares of Veeva Systems in a report on Thursday, August 29th. 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 company. According to data from MarketBeat, Veeva Systems has an average rating of “Moderate Buy” and a consensus target price of $229.96.

Insider Activity at Veeva Systems

In other news, SVP Jonathan Faddis sold 2,353 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total transaction of $470,600.00. Following the transaction, the senior vice president now directly owns 9,035 shares of the company’s stock, valued at $1,807,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.50% of the stock is currently owned by corporate insiders.

Veeva Systems Trading Up 0.2 %

NYSE:VEEV opened at $214.81 on Friday. The stock has a market cap of $34.72 billion, a P/E ratio of 63.37, a PEG ratio of 2.12 and a beta of 0.81. The stock has a 50 day simple moving average of $199.25 and a 200 day simple moving average of $201.72. Veeva Systems Inc. has a 1-year low of $162.72 and a 1-year high of $236.90.

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.