Blueshift Asset Management LLC Takes $227,000 Position in Veeva Systems Inc. (NYSE:VEEV)

Blueshift Asset Management LLC acquired a new stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,081 shares of the technology company's stock, valued at approximately $227,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Principal Financial Group Inc. lifted its position in Veeva Systems by 138.9% during 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 period. Empowered Funds LLC lifted its holdings in shares of Veeva Systems by 2.2% during the third quarter. Empowered Funds LLC now owns 4,170 shares of the technology company's stock worth $875,000 after purchasing an additional 91 shares during the period. Mutual of America Capital Management LLC boosted its position in Veeva Systems by 51.3% in the third quarter. Mutual of America Capital Management LLC now owns 3,432 shares of the technology company's stock valued at $720,000 after buying an additional 1,163 shares during the last quarter. Pathstone Holdings LLC increased its holdings in Veeva Systems by 15.4% in the 3rd quarter. Pathstone Holdings LLC now owns 11,281 shares of the technology company's stock worth $2,368,000 after buying an additional 1,508 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Veeva Systems during the 3rd quarter worth approximately $1,256,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

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Veeva Systems Trading Up 0.2 %

NYSE VEEV traded up $0.50 on Tuesday, reaching $239.54. 500,468 shares of the company were exchanged, compared to its average volume of 1,011,551. The business's fifty day moving average price is $229.76 and its 200 day moving average price is $222.42. The stock has a market capitalization of $38.89 billion, a P/E ratio of 59.16, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on VEEV. Wells Fargo & Company increased their price objective on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an "overweight" rating in a research note on Friday, December 6th. JPMorgan Chase & Co. lifted their price objective on Veeva Systems from $218.00 to $249.00 and gave the company a "neutral" rating in a research note on Thursday, March 20th. Truist Financial upped their target price on Veeva Systems from $210.00 to $217.00 and gave the stock a "hold" rating in a research note on Thursday, March 6th. StockNews.com raised Veeva Systems from a "hold" rating to a "buy" rating in a report on Monday, February 17th. Finally, Barclays boosted their price target on Veeva Systems from $260.00 to $275.00 and gave the company an "overweight" rating in a report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target 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.