Amundi Purchases 40,884 Shares of Veeva Systems Inc. (NYSE:VEEV)

Amundi lifted its stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 9.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 459,044 shares of the technology company's stock after purchasing an additional 40,884 shares during the quarter. Amundi owned about 0.28% of Veeva Systems worth $99,750,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Concurrent Investment Advisors LLC acquired a new stake in shares of Veeva Systems in the 3rd quarter worth about $245,000. Principal Financial Group Inc. raised its holdings in shares of 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 worth $457,366,000 after acquiring an additional 1,267,061 shares during the last quarter. Verdence Capital Advisors LLC raised its holdings in shares of Veeva Systems by 4.8% in the 3rd quarter. Verdence Capital Advisors LLC now owns 5,065 shares of the technology company's stock worth $1,063,000 after acquiring an additional 230 shares during the last quarter. Assetmark Inc. raised its holdings in shares of Veeva Systems by 46.4% in the 3rd quarter. Assetmark Inc. now owns 48,205 shares of the technology company's stock worth $10,117,000 after acquiring an additional 15,289 shares during the last quarter. Finally, Atria Investments Inc raised its holdings in shares of Veeva Systems by 13.7% in the 3rd quarter. Atria Investments Inc now owns 14,999 shares of the technology company's stock worth $3,148,000 after acquiring an additional 1,811 shares during the last quarter. Institutional investors own 88.20% of the company's stock.

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Wall Street Analyst Weigh In

VEEV has been the topic of a number of analyst reports. Robert W. Baird upped their target price on shares of Veeva Systems from $283.00 to $285.00 and gave the stock an "outperform" rating in a report on Thursday, March 6th. Evercore ISI upped their target price on shares of Veeva Systems from $220.00 to $245.00 and gave the stock an "in-line" rating in a report on Friday, December 6th. StockNews.com upgraded shares of Veeva Systems from a "hold" rating to a "buy" rating in a report on Monday, February 17th. Royal Bank of Canada increased their price objective on shares of Veeva Systems from $275.00 to $285.00 and gave the company an "outperform" rating in a research note on Friday, December 6th. Finally, Piper Sandler increased their price objective on shares of Veeva Systems from $280.00 to $290.00 and gave the company an "overweight" rating in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Veeva Systems currently has a consensus rating of "Moderate Buy" and a consensus price target of $255.28.

Veeva Systems Stock Down 3.5 %

VEEV traded down $8.35 on Tuesday, hitting $231.30. The company's stock had a trading volume of 2,191,496 shares, compared to its average volume of 1,203,883. The company's 50 day simple moving average is $225.47 and its 200-day simple moving average is $220.64. The firm has a market cap of $37.55 billion, a P/E ratio of 57.11, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88. Veeva Systems Inc. has a 12 month low of $170.25 and a 12 month high of $258.93.

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.