Veeva Systems Inc. (NYSE:VEEV) Shares Acquired by Leelyn Smith LLC

Leelyn Smith LLC increased its holdings in Veeva Systems Inc. (NYSE:VEEV) by 9.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,253 shares of the technology company’s stock after buying an additional 741 shares during the period. Leelyn Smith LLC’s holdings in Veeva Systems were worth $1,735,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA grew its position in shares of Veeva Systems by 64.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company’s stock valued at $744,084,000 after purchasing an additional 1,392,256 shares during the last quarter. State Street Corp lifted its stake in Veeva Systems by 1.5% in the 3rd quarter. State Street Corp now owns 3,293,141 shares of the technology company’s stock valued at $691,132,000 after buying an additional 47,872 shares in the last quarter. FMR LLC lifted its stake in Veeva Systems by 25.7% in the 3rd quarter. FMR LLC now owns 2,981,244 shares of the technology company’s stock valued at $625,674,000 after buying an additional 610,021 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Veeva Systems by 36.0% during the 4th quarter. Principal Financial Group Inc. now owns 2,964,025 shares of the technology company’s stock valued at $623,186,000 after buying an additional 784,741 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Veeva Systems by 5.7% during the third quarter. Geode Capital Management LLC now owns 2,765,236 shares of the technology company’s stock worth $579,630,000 after buying an additional 149,807 shares in the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Trading Up 1.2 %

NYSE:VEEV opened at $236.93 on Tuesday. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93. The firm has a market capitalization of $38.47 billion, a price-to-earnings ratio of 58.50, a PEG ratio of 1.89 and a beta of 0.88. The firm’s fifty day simple moving average is $227.61 and its 200 day simple moving average is $221.69.

Wall Street Analyst Weigh In

VEEV has been the topic of several recent research reports. Royal Bank of Canada upped their price objective on Veeva Systems from $275.00 to $285.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Bank of America raised their price target on shares of Veeva Systems from $280.00 to $290.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Piper Sandler lifted their price target on shares of Veeva Systems from $280.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Canaccord Genuity Group upped their price objective on shares of Veeva Systems from $210.00 to $270.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Finally, KeyCorp lowered their target price on shares of Veeva Systems from $285.00 to $255.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $255.28.

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.