OFI Invest Asset Management Takes $41,000 Position in Veeva Systems Inc. (NYSE:VEEV)

OFI Invest Asset Management bought a new position in Veeva Systems Inc. (NYSE:VEEV) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 203 shares of the technology company’s stock, valued at approximately $41,000.

A number of other institutional investors also recently bought and sold shares of VEEV. MassMutual Private Wealth & Trust FSB boosted its stake in Veeva Systems by 72.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock worth $25,000 after purchasing an additional 50 shares in the last quarter. Centricity Wealth Management LLC acquired a new stake in Veeva Systems in the 4th quarter worth approximately $25,000. Smithfield Trust Co boosted its stake in Veeva Systems by 145.5% in the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock worth $27,000 after purchasing an additional 80 shares in the last quarter. True Wealth Design LLC boosted its stake in Veeva Systems by 3,375.0% in the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock worth $29,000 after purchasing an additional 135 shares in the last quarter. Finally, Avion Wealth boosted its stake in Veeva Systems by 635.0% in the 4th quarter. Avion Wealth now owns 147 shares of the technology company’s stock worth $30,000 after purchasing an additional 127 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. KeyCorp reduced their price target on shares of Veeva Systems from $285.00 to $255.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. StockNews.com raised shares of Veeva Systems from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Stephens reissued an “overweight” rating and set a $280.00 price target on shares of Veeva Systems in a research report on Thursday, March 6th. Robert W. Baird raised their price target on shares of Veeva Systems from $283.00 to $285.00 and gave the stock an “outperform” rating in a research report on Thursday, March 6th. Finally, Needham & Company LLC reissued a “buy” rating and set a $270.00 price target on shares of Veeva Systems in a research report on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $255.28.

Veeva Systems Stock Performance

Shares of NYSE VEEV opened at $239.38 on Tuesday. The firm has a market cap of $38.86 billion, a PE ratio of 59.11, a PEG ratio of 1.89 and a beta of 0.88. The firm has a fifty day moving average of $225.47 and a 200 day moving average of $220.64. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93.

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.