BBR Partners LLC Makes New $282,000 Investment in Veeva Systems Inc. (NYSE:VEEV)

BBR Partners LLC acquired a new position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,341 shares of the technology company's stock, valued at approximately $282,000.

Several other large investors also recently made changes to their positions in the stock. MassMutual Private Wealth & Trust FSB grew 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 purchasing an additional 50 shares during the period. Centricity Wealth Management LLC acquired a new stake in shares of Veeva Systems in the fourth quarter valued at approximately $25,000. Smithfield Trust Co boosted 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 acquiring an additional 80 shares during the period. True Wealth Design LLC increased its holdings in shares of Veeva Systems by 3,375.0% during the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company's stock worth $29,000 after acquiring an additional 135 shares during the last quarter. Finally, Avion Wealth raised its stake 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 during the period. Institutional investors and hedge funds own 88.20% of the company's stock.

Analysts Set New Price Targets

VEEV has been the subject of a number of research analyst reports. Canaccord Genuity Group lifted their price objective on shares of Veeva Systems from $210.00 to $270.00 and gave the stock a "hold" rating in a research report on Friday, December 6th. Barclays upped their price target on shares of Veeva Systems from $260.00 to $275.00 and gave the company an "overweight" rating in a research note on Friday, December 6th. Citigroup increased their price target on shares of Veeva Systems from $281.00 to $307.00 and gave the company a "buy" rating in a report on Monday, December 9th. Royal Bank of Canada boosted their price objective on Veeva Systems from $275.00 to $285.00 and gave the stock an "outperform" rating in a report on Friday, December 6th. Finally, StockNews.com upgraded Veeva Systems from a "hold" rating to a "buy" rating in a research note on Monday, February 17th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, Veeva Systems presently has an average rating of "Moderate Buy" and an average target price of $255.28.

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Veeva Systems Stock Down 3.5 %

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

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.