Prudential Financial Inc. Has $25.68 Million Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Prudential Financial Inc. grew its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 982.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 122,120 shares of the technology company’s stock after purchasing an additional 110,836 shares during the quarter. Prudential Financial Inc. owned about 0.08% of Veeva Systems worth $25,676,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in VEEV. MassMutual Private Wealth & Trust FSB increased its holdings in Veeva Systems by 72.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock worth $25,000 after buying an additional 50 shares during the last quarter. Centricity Wealth Management LLC acquired a new position in shares of Veeva Systems during the 4th quarter worth about $25,000. Smithfield Trust Co increased its stake in shares of Veeva Systems by 145.5% during the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock worth $27,000 after purchasing an additional 80 shares during the last quarter. True Wealth Design LLC raised its holdings in shares of Veeva Systems by 3,375.0% in the 3rd 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 period. Finally, Retirement Wealth Solutions LLC acquired a new stake in Veeva Systems in the 4th quarter valued at about $31,000. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Performance

Shares of VEEV opened at $235.52 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 $38.24 billion, a price-to-earnings ratio of 58.15, a PEG ratio of 1.89 and a beta of 0.88. The business’s fifty day moving average is $230.82 and its 200-day moving average is $222.68.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Royal Bank of Canada upped their price objective on Veeva Systems from $275.00 to $285.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. KeyCorp cut their price target on Veeva Systems from $285.00 to $255.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Barclays upped their price objective on shares of Veeva Systems from $260.00 to $275.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Bank of America raised their target price on shares of Veeva Systems from $280.00 to $290.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, Evercore ISI upped their price target on shares of Veeva Systems from $220.00 to $245.00 and gave the company an “in-line” rating in a research note on Friday, December 6th. Two research 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.com, Veeva Systems currently has a consensus rating of “Moderate Buy” and an average target price of $256.52.

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.