Stevens Capital Management LP Acquires New Shares in Veeva Systems Inc. (NYSE:VEEV)

Stevens Capital Management LP acquired a new stake in Veeva Systems Inc. (NYSE:VEEV) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,706 shares of the technology company’s stock, valued at approximately $359,000.

Other large investors have also bought and sold shares of the company. MassMutual Private Wealth & Trust FSB boosted its stake in Veeva Systems by 72.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock valued at $25,000 after buying an additional 50 shares in the last quarter. Centricity Wealth Management LLC bought a new position in Veeva Systems in the fourth quarter valued at about $25,000. Smithfield Trust Co raised its position in Veeva Systems by 145.5% in the fourth quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock valued at $27,000 after purchasing an additional 80 shares during the last quarter. True Wealth Design LLC raised its position in Veeva Systems by 3,375.0% in the third quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock valued at $29,000 after purchasing an additional 135 shares during the last quarter. Finally, Avion Wealth raised its position in Veeva Systems by 635.0% in the fourth quarter. Avion Wealth now owns 147 shares of the technology company’s stock valued at $30,000 after purchasing an additional 127 shares during the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Stock Performance

Shares of Veeva Systems stock opened at $236.98 on Monday. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93. The stock has a 50 day moving average price of $229.24 and a two-hundred day moving average price of $222.25. The stock has a market capitalization of $38.47 billion, a PE ratio of 58.51, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88.

Analysts Set New Price Targets

Several research firms have commented on VEEV. Robert W. Baird increased their target price on Veeva Systems from $283.00 to $285.00 and gave the company an “outperform” rating in a research report on Thursday, March 6th. Scotiabank increased their target price on Veeva Systems from $240.00 to $245.00 and gave the company a “sector perform” rating in a research report on Thursday, March 6th. Barclays increased their target price on Veeva Systems from $260.00 to $275.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. KeyCorp dropped their target price on Veeva Systems from $285.00 to $255.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Finally, Citigroup raised their price objective on Veeva Systems from $281.00 to $307.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Veeva Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $256.52.

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.