Xponance Inc. Buys 2,209 Shares of Veeva Systems Inc. (NYSE:VEEV)

Xponance Inc. raised its stake in Veeva Systems Inc. (NYSE:VEEV) by 8.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 28,754 shares of the technology company’s stock after buying an additional 2,209 shares during the quarter. Xponance Inc.’s holdings in Veeva Systems were worth $6,046,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of VEEV. Massachusetts Financial Services Co. MA lifted 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 worth $744,084,000 after purchasing an additional 1,392,256 shares in the last quarter. State Street Corp lifted its position in shares of Veeva Systems by 1.5% in the third quarter. State Street Corp now owns 3,293,141 shares of the technology company’s stock worth $691,132,000 after purchasing an additional 47,872 shares in the last quarter. FMR LLC lifted its position in shares of Veeva Systems by 25.7% in the third quarter. FMR LLC now owns 2,981,244 shares of the technology company’s stock worth $625,674,000 after purchasing an additional 610,021 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Veeva Systems by 36.0% in the fourth quarter. Principal Financial Group Inc. now owns 2,964,025 shares of the technology company’s stock worth $623,186,000 after purchasing an additional 784,741 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Veeva Systems by 5.7% in the third quarter. Geode Capital Management LLC now owns 2,765,236 shares of the technology company’s stock worth $579,630,000 after purchasing an additional 149,807 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Stifel Nicolaus boosted their price objective on shares of Veeva Systems from $240.00 to $272.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. boosted their target price on shares of Veeva Systems from $208.00 to $218.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. StockNews.com upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Morgan Stanley boosted their target price on shares of Veeva Systems from $195.00 to $201.00 and gave the stock an “underweight” rating in a report on Thursday, March 6th. Finally, Mizuho began coverage on shares of Veeva Systems in a report on Wednesday, December 4th. They set an “outperform” rating and a $275.00 target price on the stock. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $255.28.

Veeva Systems Stock Performance

NYSE:VEEV opened at $237.09 on Thursday. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93. The firm has a market cap of $38.49 billion, a price-to-earnings ratio of 58.54, a P/E/G ratio of 1.89 and a beta of 0.88. The firm’s 50-day simple moving average is $228.49 and its 200 day simple moving average is $221.93.

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.