Bank Julius Baer & Co. Ltd Zurich lifted its stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 1.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 79,771 shares of the technology company's stock after acquiring an additional 1,294 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich's holdings in Veeva Systems were worth $17,919,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA lifted its holdings in Veeva Systems by 64.7% in the 3rd 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 raised its position in shares of Veeva Systems by 1.5% during the third quarter. State Street Corp now owns 3,293,141 shares of the technology company's stock valued at $691,132,000 after buying an additional 47,872 shares during the last quarter. FMR LLC lifted its holdings 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 buying an additional 610,021 shares in the last quarter. Principal Financial Group Inc. lifted its holdings 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 buying an additional 784,741 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Veeva Systems by 5.7% during the third quarter. Geode Capital Management LLC now owns 2,765,236 shares of the technology company's stock worth $579,630,000 after acquiring an additional 149,807 shares during the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.
Veeva Systems Price Performance
Shares of NYSE:VEEV traded up $1.66 during trading on Wednesday, reaching $233.34. 1,768,348 shares of the company were exchanged, compared to its average volume of 1,214,683. The business's fifty day simple moving average is $225.89 and its 200-day simple moving average is $220.87. Veeva Systems Inc. has a 12-month low of $170.25 and a 12-month high of $258.93. The firm has a market capitalization of $37.88 billion, a PE ratio of 57.62, a P/E/G ratio of 1.89 and a beta of 0.88.
Wall Street Analyst Weigh In
Several analysts have commented on VEEV shares. Mizuho began coverage on shares of Veeva Systems in a research note on Wednesday, December 4th. They issued an "outperform" rating and a $275.00 price target on the stock. JPMorgan Chase & Co. boosted their target price on Veeva Systems from $208.00 to $218.00 and gave the stock a "neutral" rating in a research report on Monday, December 16th. The Goldman Sachs Group cut Veeva Systems from a "buy" rating to a "sell" rating and cut their price target for the company from $261.00 to $200.00 in a report on Thursday, January 23rd. Stephens reiterated an "overweight" rating and set a $280.00 target price on shares of Veeva Systems in a research report on Thursday, March 6th. Finally, Evercore ISI raised their target price on shares of Veeva Systems from $220.00 to $245.00 and gave the company an "in-line" rating in a report on Friday, December 6th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $255.28.
Check Out Our Latest Stock Analysis on Veeva Systems
About Veeva Systems
(
Free Report)
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.
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