Bestgate Wealth Advisors LLC Purchases New Stake in Veeva Systems Inc. (NYSE:VEEV)

Bestgate Wealth Advisors LLC purchased a new position in Veeva Systems Inc. (NYSE:VEEV - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,133 shares of the technology company's stock, valued at approximately $238,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. Cardinal Capital Management raised its holdings in Veeva Systems by 0.3% during the fourth quarter. Cardinal Capital Management now owns 15,727 shares of the technology company's stock worth $3,307,000 after purchasing an additional 44 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised 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 in the last quarter. Patriot Financial Group Insurance Agency LLC raised its holdings in Veeva Systems by 0.7% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 6,975 shares of the technology company's stock worth $1,467,000 after purchasing an additional 51 shares in the last quarter. CHICAGO TRUST Co NA raised its holdings in Veeva Systems by 2.9% during the fourth quarter. CHICAGO TRUST Co NA now owns 1,880 shares of the technology company's stock worth $395,000 after purchasing an additional 53 shares in the last quarter. Finally, Old North State Wealth Management LLC raised its holdings in Veeva Systems by 0.4% during the fourth quarter. Old North State Wealth Management LLC now owns 15,351 shares of the technology company's stock worth $3,228,000 after purchasing an additional 55 shares in the last quarter. Hedge funds and other institutional investors own 88.20% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

VEEV has been the topic of a number of research analyst reports. Mizuho initiated coverage on shares of Veeva Systems in a report on Wednesday, December 4th. They set an "outperform" rating and a $275.00 price objective on the stock. Citigroup raised their price objective on shares of Veeva Systems from $281.00 to $307.00 and gave the stock a "buy" rating in a report on Monday, December 9th. KeyCorp cut their target price on shares of Veeva Systems from $285.00 to $255.00 and set an "overweight" rating on the stock in a report on Wednesday, January 8th. The Goldman Sachs Group cut shares of Veeva Systems from a "buy" rating to a "sell" rating and dropped their price objective for the company from $261.00 to $200.00 in a research note on Thursday, January 23rd. Finally, Evercore ISI boosted their price objective 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 equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $256.52.

Veeva Systems Trading Up 0.5 %

VEEV traded up $1.13 during trading on Friday, hitting $236.98. 1,192,386 shares of the company's stock were exchanged, compared to its average volume of 1,010,716. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93. The stock has a 50 day moving average price of $229.24 and a 200 day moving average price of $222.22. The firm has a market cap of $38.47 billion, a P/E ratio of 58.51, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88.

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.