American International Group Inc. bought a new stake in shares of Veeva Systems Inc (NYSE:VEEV) during the fourth quarter, HoldingsChannel.com reports. The fund bought 2,571 shares of the technology company’s stock, valued at approximately $142,000.

Several other large investors have also made changes to their positions in the company. Arrowstreet Capital Limited Partnership lifted its position in shares of Veeva Systems by 20.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 55,800 shares of the technology company’s stock valued at $3,085,000 after buying an additional 9,600 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Veeva Systems during the 4th quarter valued at approximately $317,000. UBS Asset Management Americas Inc. lifted its position in shares of Veeva Systems by 9.3% during the 4th quarter. UBS Asset Management Americas Inc. now owns 286,494 shares of the technology company’s stock valued at $15,837,000 after buying an additional 24,353 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Veeva Systems by 0.7% during the 4th quarter. Bank of New York Mellon Corp now owns 638,077 shares of the technology company’s stock valued at $35,273,000 after buying an additional 4,568 shares in the last quarter. Finally, Pinebridge Investments L.P. lifted its position in shares of Veeva Systems by 16.9% during the 4th quarter. Pinebridge Investments L.P. now owns 56,722 shares of the technology company’s stock valued at $3,135,000 after buying an additional 8,201 shares in the last quarter. Hedge funds and other institutional investors own 73.13% of the company’s stock.

How to Become a New Pot Stock Millionaire

Veeva Systems Inc (VEEV) opened at $77.45 on Thursday. The firm has a market capitalization of $10,950.00, a price-to-earnings ratio of 84.18, a price-to-earnings-growth ratio of 4.67 and a beta of 1.46. Veeva Systems Inc has a fifty-two week low of $45.91 and a fifty-two week high of $78.28.

A number of research analysts have recently issued reports on the company. Stifel Nicolaus increased their target price on Veeva Systems from $67.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Zacks Investment Research upgraded Veeva Systems from a “hold” rating to a “strong-buy” rating and set a $89.00 target price on the stock in a research report on Wednesday, March 7th. JPMorgan Chase & Co. lowered Veeva Systems from an “overweight” rating to a “neutral” rating in a research report on Friday, March 9th. KeyCorp reiterated an “overweight” rating and set a $81.00 target price (up previously from $70.00) on shares of Veeva Systems in a research report on Friday, March 2nd. Finally, Morgan Stanley increased their target price on Veeva Systems from $72.00 to $76.00 and gave the company an “overweight” rating in a research report on Thursday, March 1st. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $71.47.

In other Veeva Systems news, CFO Timothy S. Cabral sold 50,000 shares of the firm’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $55.74, for a total value of $2,787,000.00. Following the transaction, the chief financial officer now owns 50,000 shares in the company, valued at approximately $2,787,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jonathan Faddis sold 8,000 shares of the firm’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $56.94, for a total value of $455,520.00. Following the completion of the transaction, the senior vice president now owns 18,462 shares in the company, valued at approximately $1,051,226.28. The disclosure for this sale can be found here. Insiders sold a total of 254,723 shares of company stock worth $16,573,583 in the last 90 days. 17.50% of the stock is currently owned by insiders.

COPYRIGHT VIOLATION NOTICE: This piece was posted by Daily Political and is the sole property of of Daily Political. If you are viewing this piece on another domain, it was stolen and reposted in violation of international trademark & copyright laws. The correct version of this piece can be viewed at https://www.dailypolitical.com/2018/03/15/american-international-group-inc-invests-142000-in-veeva-systems-inc-veev.html.

Veeva Systems Profile

Veeva Systems Inc (Veeva) is a provider of cloud-based software solutions for the global life sciences industry. The Company offers solutions for a range of requirements within life sciences companies, including multichannel customer relationship management, regulated content and information management, master data management and customer data.

Want to see what other hedge funds are holding VEEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Veeva Systems Inc (NYSE:VEEV).

Institutional Ownership by Quarter for Veeva Systems (NYSE:VEEV)

Receive News & Ratings for Veeva Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veeva Systems and related companies with MarketBeat.com's FREE daily email newsletter.