Counterpoint Mutual Funds LLC Takes $331,000 Position in Veeva Systems Inc. (NYSE:VEEV)

Counterpoint Mutual Funds LLC acquired a new stake in Veeva Systems Inc. (NYSE:VEEV) 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.