Keybank National Association OH Increases Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Keybank National Association OH grew its position in Veeva Systems Inc. (NYSE:VEEV) by 22.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,042 shares of the technology company’s stock after buying an additional 549 shares during the quarter. Keybank National Association OH’s holdings in Veeva Systems were worth $640,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its stake in shares of 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 valued at $744,084,000 after acquiring an additional 1,392,256 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of 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 valued at $457,366,000 after acquiring an additional 1,267,061 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Veeva Systems by 73.2% during the third quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company’s stock valued at $536,972,000 after acquiring an additional 1,081,501 shares during the last quarter. FMR LLC boosted its stake in shares of Veeva Systems by 25.7% during the third quarter. FMR LLC now owns 2,981,244 shares of the technology company’s stock valued at $625,674,000 after acquiring an additional 610,021 shares during the last quarter. Finally, Seilern Investment Management Ltd acquired a new stake in shares of Veeva Systems during the fourth quarter valued at $94,957,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on VEEV. Evercore ISI increased their price objective on Veeva Systems from $220.00 to $245.00 and gave the company an “in-line” rating in a research note on Friday, December 6th. Truist Financial increased their price objective on Veeva Systems from $210.00 to $217.00 and gave the company a “hold” rating in a research note on Thursday. Morgan Stanley increased their price objective on Veeva Systems from $195.00 to $201.00 and gave the company an “underweight” rating in a research note on Thursday. Citigroup raised their price target on Veeva Systems from $281.00 to $307.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Finally, JPMorgan Chase & Co. raised their price target on Veeva Systems from $208.00 to $218.00 and gave the stock a “neutral” rating in a research note on Monday, December 16th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Veeva Systems has an average rating of “Moderate Buy” and a consensus target price of $255.28.

Veeva Systems Stock Performance

Shares of NYSE:VEEV opened at $247.10 on Friday. The company has a market cap of $40.12 billion, a P/E ratio of 61.01, 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. The business’s 50-day simple moving average is $224.92 and its 200 day simple moving average is $220.21.

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.