Barclays PLC Increases Investment in Veeva Systems Inc. Throughout Q3

Barclays PLC has announced that it raised its investment in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 18.2% during the third quarter of this year. This information comes from the firm’s latest Form 13F filing with the Securities and Exchange Commission (SEC). Following this increase, Barclays now holds 185,206 shares of Veeva's stock, having acquired an additional 28,497 shares during the quarter. As of this latest SEC filing, Barclays owns approximately 0.11% of Veeva Systems, valued at around $38,870,000.

Other institutional investors have also been adjusting their positions in Veeva Systems. Massachusetts Financial Services Co. MA, for instance, increased its stake by a substantial 64.7% during this same period, accumulating 3,545,451 shares worth about $744,084,000 after adding 1,392,256 shares. Meanwhile, Principal Financial Group Inc. grows its stake by 138.9%, now owning 2,179,284 shares valued at $457,366,000 after purchasing an additional 1,267,061 shares. FMR LLC has increased its holdings by 25.7%, bringing its total to 2,981,244 shares worth $625,674,000 after acquiring 610,021 more shares. Caisse DE Depot ET Placement DU Quebec made an even more dramatic increase of 761.7%, acquiring 297,771 shares valued at $62,493,000 after buying an additional 263,214 shares. Finally, Point72 Asset Management L.P. entered the Veeva market with a new stake valued at approximately $50,584,000. Overall, institutional investors own about 88.20% of Veeva Systems stock.

Market Analysts Share Insights

Analysts on Wall Street have been vocal about Veeva Systems, offering various ratings and price targets. Stifel Nicolaus recently increased its price target from $240.00 to $272.00, maintaining a "buy" rating. Similarly, Robert W. Baird raised its target from $275.00 to $283.00, providing an "outperform" rating. TD Cowen revised its price objective up from $180.00 to $192.00, classifying shares with a "hold" rating. In another development, JPMorgan Chase & Co. adjusted their target price from $203.00 to $208.00, giving it a "neutral" rating. Finally, Raymond James lifted its target from $230.00 to $235.00, keeping an "outperform" rating. In total, one analyst has issued a sell rating, while eight suggest holding the stock, and eighteen are in favor of buying it. According to MarketBeat data, the average rating for Veeva Systems stands at "Moderate Buy" with a consensus price target of $255.35.

Current Stock Performance

On the market, Veeva Systems' shares opened at $228.78 on Friday. The 50-day moving average is currently $221.36, while the 200-day moving average is $204.00. The stock has fluctuated significantly over the past year, hitting a low of $170.25 and reaching a high of $258.93. Veeva Systems holds a market capitalization of $37.05 billion, with a price-to-earnings ratio of 56.49 and a price-to-earnings-growth ratio of 2.07. The company also has a beta of 0.82, suggesting lower volatility compared to the broader market.

Insider Trading Activities

In recent insider trading news, Thomas D. Schwenger, an insider at Veeva Systems, sold 1,126 shares on November 8th at an average price of $240.01, totaling $270,251.26. After this sale, Schwenger holds 27,013 shares valued at approximately $6,483,390.13, reflecting a 4.00% decrease in their position. Additionally, SVP Jonathan Faddis sold 1,694 shares on December 4th at an average price of $230.30, amounting to $390,128.20. Post-transaction, Faddis owns 8,061 shares valued at about $1,856,448.30, which is a 17.37% decrease in their holding. Company insiders own roughly 10.50% of Veeva Systems' stock.

Overview of Veeva Systems

Veeva Systems Inc. specializes in providing cloud-based software tailored for the life sciences industry. Their offerings include the Veeva Commercial Cloud, featuring solutions and analytics that enable customer-facing roles within pharmaceutical and biotechnology firms. Furthermore, the company provides the Veeva Vault Suite, which includes capabilities for managing promotional materials, medical content, and data analytics for pharmaceutical brands.

Veeva Systems continues to be a key player in the life sciences technology space, reflecting solid growth trajectories and strong partnerships.

Barclays, Veeva, Investment, Shares, Stocks