William Blair Investment Management LLC Has $167.42 Million Stake in Veeva Systems Inc. (NYSE:VEEV)

William Blair Investment Management LLC grew its holdings in Veeva Systems Inc. (NYSE:VEEV) by 17.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 796,304 shares of the technology company’s stock after buying an additional 120,661 shares during the period. William Blair Investment Management LLC’s holdings in Veeva Systems were worth $167,423,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in VEEV. Massachusetts Financial Services Co. MA increased its holdings in shares of Veeva Systems by 64.7% in the 3rd 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 period. Principal Financial Group Inc. increased its holdings in shares of 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 purchasing an additional 1,267,061 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Veeva Systems by 73.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company’s stock valued at $536,972,000 after buying an additional 1,081,501 shares in the last quarter. Wealthfront Advisers LLC grew its stake in shares of Veeva Systems by 29,760.5% in the 4th quarter. Wealthfront Advisers LLC now owns 1,048,700 shares of the technology company’s stock valued at $220,489,000 after buying an additional 1,045,188 shares in the last quarter. Finally, FMR LLC grew its stake in shares of 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. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Trading Up 2.6 %

Shares of NYSE VEEV opened at $233.84 on Monday. The business has a fifty day simple moving average of $227.12 and a 200 day simple moving average of $221.55. The firm has a market capitalization of $37.96 billion, a price-to-earnings ratio of 57.74, a PEG ratio of 1.89 and a beta of 0.88. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93.

Analysts Set New Price Targets

Several equities research analysts recently commented on VEEV shares. Wells Fargo & Company boosted their price target on Veeva Systems from $275.00 to $285.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Piper Sandler boosted their price target on Veeva Systems from $280.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Truist Financial upped their target price on Veeva Systems from $210.00 to $217.00 and gave the stock a “hold” rating in a research report on Thursday, March 6th. Barclays upped their target price on Veeva Systems from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Finally, Royal Bank of Canada upped their target price on Veeva Systems from $275.00 to $285.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $255.28.

Veeva Systems 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.