Veeva Systems Inc. (NYSE:VEEV) Stock Position Boosted by Twin City Private Wealth LLC

Twin City Private Wealth LLC boosted its stake in Veeva Systems Inc. (NYSE:VEEV) by 2.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,036 shares of the technology company’s stock after buying an additional 58 shares during the period. Twin City Private Wealth LLC’s holdings in Veeva Systems were worth $428,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Toronto Dominion Bank lifted its holdings 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 during the last quarter. Principal Financial Group Inc. lifted its holdings 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 during the last quarter. Smith Group Asset Management LLC lifted its holdings 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 during the last quarter. Everence Capital Management Inc. acquired a new stake in Veeva Systems in the 4th quarter valued at about $816,000. Finally, Venturi Wealth Management LLC lifted its holdings 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 during the last quarter. Institutional investors own 88.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on VEEV. Stephens reissued an “overweight” rating and issued a $280.00 price target on shares of Veeva Systems in a report on Thursday, March 6th. The Goldman Sachs Group lowered shares of Veeva Systems from a “buy” rating to a “sell” rating and reduced their price objective for the company from $261.00 to $200.00 in a research note on Thursday, January 23rd. Scotiabank upped their price objective on shares of Veeva Systems from $240.00 to $245.00 and gave the company a “sector perform” rating in a research note on Thursday, March 6th. Citigroup upped their price objective on shares of Veeva Systems from $281.00 to $307.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Bank of America upped their price objective 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 investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $256.52.

Veeva Systems Stock Performance

NYSE:VEEV opened at $236.98 on Monday. The stock’s 50 day moving average price is $229.24 and its 200 day moving average price is $222.25. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 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.

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.