Counterpoint Mutual Funds LLC acquired a new stake in Veeva Systems Inc. (NYSE:VEEV – Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 1,572 shares of the technology company’s stock, valued at approximately $331,000.
Several other hedge funds also recently modified their holdings of VEEV. Massachusetts Financial Services Co. MA grew its holdings in Veeva Systems by 64.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company’s stock worth $744,084,000 after purchasing an additional 1,392,256 shares during the period. Principal Financial Group Inc. grew its holdings in Veeva Systems by 138.9% during the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock worth $457,366,000 after purchasing an additional 1,267,061 shares during the period. JPMorgan Chase & Co. grew its holdings in Veeva Systems by 73.2% during the third quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company’s stock worth $536,972,000 after purchasing an additional 1,081,501 shares during the period. Wealthfront Advisers LLC grew its holdings in Veeva Systems by 29,760.5% during the fourth quarter. Wealthfront Advisers LLC now owns 1,048,700 shares of the technology company’s stock worth $220,489,000 after purchasing an additional 1,045,188 shares during the period. Finally, FMR LLC grew its holdings in Veeva Systems by 25.7% during the third quarter. FMR LLC now owns 2,981,244 shares of the technology company’s stock worth $625,674,000 after purchasing an additional 610,021 shares during the period. Institutional investors own 88.20% of the company’s stock.
Analyst Ratings Changes
Several brokerages have issued reports on VEEV. Canaccord Genuity Group raised their price objective on shares of Veeva Systems from $210.00 to $270.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Royal Bank of Canada raised their price objective on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. raised their price objective on shares of Veeva Systems from $208.00 to $218.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. Robert W. Baird raised their price objective 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, StockNews.com upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Veeva Systems has an average rating of “Moderate Buy” and an average price target of $255.28.
Veeva Systems Price Performance
Shares of VEEV opened at $236.93 on Tuesday. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93. The company has a market cap of $38.47 billion, a P/E ratio of 58.50, a P/E/G ratio of 1.89 and a beta of 0.88. The firm has a 50 day simple moving average of $227.61 and a two-hundred day simple moving average of $221.69.
Veeva Systems Company 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.
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