Royal London Asset Management Ltd. Buys 3,295 Shares of Veeva Systems Inc. (NYSE:VEEV)

Royal London Asset Management Ltd. boosted its stake in Veeva Systems Inc. (NYSE:VEEV) by 4.9% during the 4th quarter, HoldingsChannel reports. The fund owned 70,282 shares of the technology company’s stock after acquiring an additional 3,295 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Veeva Systems were worth $14,777,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Toronto Dominion Bank lifted its position in Veeva Systems by 39.1% in the 3rd quarter. Toronto Dominion Bank now owns 20,180 shares of the technology company’s stock valued at $4,235,000 after acquiring an additional 5,673 shares in the last quarter. Principal Financial Group Inc. lifted its position in Veeva Systems by 138.9% in the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock valued at $457,366,000 after acquiring an additional 1,267,061 shares in the last quarter. Smith Group Asset Management LLC lifted its position in Veeva Systems by 2.2% in the 4th quarter. Smith Group Asset Management LLC now owns 82,567 shares of the technology company’s stock valued at $17,360,000 after acquiring an additional 1,749 shares in the last quarter. Everence Capital Management Inc. bought a new stake in Veeva Systems in the 4th quarter valued at $816,000. Finally, Venturi Wealth Management LLC lifted its position in Veeva Systems by 2,716.7% in the 4th quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company’s stock valued at $36,000 after acquiring an additional 163 shares in the last quarter. 88.20% of the stock is owned by institutional investors.

Veeva Systems Stock Performance

VEEV opened at $236.98 on Friday. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93. The company has a market capitalization of $38.47 billion, a P/E ratio of 58.51, a P/E/G ratio of 1.89 and a beta of 0.88. The stock has a fifty day moving average of $229.24 and a 200-day moving average of $222.22.

Analyst Upgrades and Downgrades

VEEV has been the topic of several analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Veeva Systems from $218.00 to $249.00 and gave the stock a “neutral” rating in a research report on Thursday. Stifel Nicolaus raised their price target on Veeva Systems from $240.00 to $272.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Morgan Stanley upped their price objective on Veeva Systems from $195.00 to $201.00 and gave the stock an “underweight” rating in a research note on Thursday, March 6th. Wells Fargo & Company raised their target price on shares of Veeva Systems from $275.00 to $285.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Finally, Bank of America raised their target price on shares of Veeva Systems from $280.00 to $290.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Two equities research 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 MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $256.52.

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.