Veeva Systems Inc. (NYSE:VEEV) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. lifted its stake in Veeva Systems Inc. (NYSE:VEEV) by 0.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 14,445,145 shares of the technology company’s stock after acquiring an additional 32,028 shares during the quarter. Vanguard Group Inc. owned 0.09% of Veeva Systems worth $3,037,092,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. MassMutual Private Wealth & Trust FSB lifted its stake 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 purchasing an additional 50 shares in the last quarter. Centricity Wealth Management LLC purchased a new stake in shares of Veeva Systems in the 4th quarter valued at $25,000. Smithfield Trust Co lifted its stake in 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 acquiring an additional 80 shares in the last quarter. True Wealth Design LLC boosted its holdings in Veeva Systems by 3,375.0% during the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock valued at $29,000 after acquiring an additional 135 shares during the period. Finally, Avion Wealth grew its position in Veeva Systems by 635.0% in the 4th quarter. Avion Wealth now owns 147 shares of the technology company’s stock valued at $30,000 after acquiring an additional 127 shares in the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Price Performance

Shares of NYSE:VEEV opened at $240.41 on Wednesday. Veeva Systems Inc. has a 1-year low of $170.25 and a 1-year high of $258.93. The stock has a market cap of $39.03 billion, a P/E ratio of 59.36, a P/E/G ratio of 1.89 and a beta of 0.88. The firm has a fifty day moving average price of $230.35 and a 200 day moving average price of $222.59.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on VEEV shares. Piper Sandler increased their price target on shares of Veeva Systems from $280.00 to $290.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Truist Financial raised their price target on shares of Veeva Systems from $210.00 to $217.00 and gave the company a “hold” rating in a research report on Thursday, March 6th. StockNews.com raised Veeva Systems from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Royal Bank of Canada lifted their target price on Veeva Systems from $275.00 to $285.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Finally, Stephens restated an “overweight” rating and set a $280.00 price target on shares of Veeva Systems in a report on Thursday, March 6th. Two equities 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 company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $256.52.

Veeva Systems Company 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.