Allspring Global Investments Holdings LLC Has $51.53 Million Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Posted by Defense World Staff on Apr 2nd, 2023

Allspring Global Investments Holdings LLC boosted its position in Veeva Systems Inc. (NYSE:VEEV – Get Rating) by 32.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 319,319 shares of the technology company’s stock after buying an additional 78,332 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.21% of Veeva Systems worth $51,532,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of VEEV. Price T Rowe Associates Inc. MD grew its position in shares of Veeva Systems by 14.3% in the second quarter. Price T Rowe Associates Inc. MD now owns 16,414,343 shares of the technology company’s stock valued at $3,250,696,000 after purchasing an additional 2,056,275 shares during the last quarter. Wellington Management Group LLP boosted its stake in Veeva Systems by 1,578.4% during the 1st quarter. Wellington Management Group LLP now owns 1,504,355 shares of the technology company’s stock valued at $319,616,000 after purchasing an additional 1,414,726 shares during the period. Alliancebernstein L.P. boosted its stake in Veeva Systems by 19.1% during the 3rd quarter. Alliancebernstein L.P. now owns 5,922,651 shares of the technology company’s stock valued at $976,527,000 after purchasing an additional 951,240 shares during the period. Nuveen Asset Management LLC grew its holdings in Veeva Systems by 36.3% in the 3rd quarter. Nuveen Asset Management LLC now owns 2,148,210 shares of the technology company’s stock valued at $354,196,000 after buying an additional 572,197 shares during the last quarter. Finally, Artisan Partners Limited Partnership increased its position in Veeva Systems by 6.4% in the 3rd quarter. Artisan Partners Limited Partnership now owns 9,393,531 shares of the technology company’s stock worth $1,548,805,000 after buying an additional 563,361 shares during the period. Institutional investors own 78.76% of the company’s stock.

Veeva Systems Stock Up 2.6 %

NYSE:VEEV opened at $183.79 on Friday. The firm has a market cap of $28.61 billion, a PE ratio of 61.06, a price-to-earnings-growth ratio of 4.15 and a beta of 0.90. Veeva Systems Inc. has a 12 month low of $151.02 and a 12 month high of $232.26. The company’s 50-day moving average price is $172.83 and its two-hundred day moving average price is $170.33.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on VEEV shares. Robert W. Baird reduced their price objective on Veeva Systems from $233.00 to $223.00 and set an “outperform” rating for the company in a research report on Monday, February 27th. Citigroup dropped their price objective on shares of Veeva Systems from $213.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, March 1st. Cowen started coverage on shares of Veeva Systems in a research note on Tuesday, December 6th. They issued a “market perform” rating for the company. KeyCorp lowered their price target on Veeva Systems from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Friday, March 3rd. Finally, Barclays reduced their price objective on Veeva Systems from $205.00 to $197.00 and set an “overweight” rating for the company in a research report on Thursday, March 2nd. Twelve investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $204.39.

Insider Transactions at Veeva Systems

In other news, CEO Peter P. Gassner sold 28,506 shares of the business’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $159.77, for a total value of $4,554,403.62. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Veeva Systems news, Director Paul Edward Chamberlain sold 160 shares of the stock in a transaction dated Friday, March 10th. The shares were sold at an average price of $169.42, for a total transaction of $27,107.20. Following the sale, the director now owns 16,776 shares of the company’s stock, valued at approximately $2,842,189.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Peter P. Gassner sold 28,506 shares of the business’s stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $159.77, for a total transaction of $4,554,403.62. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 97,224 shares of company stock valued at $16,003,460. Corporate insiders own 13.23% of the company’s stock.

Veeva Systems Profile

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Veeva Systems, Inc engages in the provision of industry cloud solutions for the global 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.