Cannon Global Investment Management LLC purchased a new position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 3,700 shares of the technology company's stock, valued at approximately $778,000. Veeva Systems comprises about 1.7% of Cannon Global Investment Management LLC's investment portfolio, making the stock its 17th biggest position.
A number of other institutional investors and hedge funds also recently made changes to their positions in VEEV. Toronto Dominion Bank increased its position in Veeva Systems by 39.1% during the third quarter. Toronto Dominion Bank now owns 20,180 shares of the technology company's stock worth $4,235,000 after buying an additional 5,673 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of 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 last quarter. Smith Group Asset Management LLC lifted its holdings in Veeva Systems by 2.2% during the 4th quarter. Smith Group Asset Management LLC now owns 82,567 shares of the technology company's stock valued at $17,360,000 after purchasing an additional 1,749 shares during the last quarter. Everence Capital Management Inc. bought a new position in Veeva Systems during the fourth quarter worth $816,000. Finally, Venturi Wealth Management LLC grew its stake in Veeva Systems by 2,716.7% in the 4th quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company's stock valued at $36,000 after buying an additional 163 shares during the last quarter. Institutional investors own 88.20% of the company's stock.
Analyst Ratings Changes
Several equities analysts have recently commented on the company. Scotiabank upped their target price on Veeva Systems from $240.00 to $245.00 and gave the company a "sector perform" rating in a research report on Thursday, March 6th. StockNews.com raised Veeva Systems from a "hold" rating to a "buy" rating in a research report on Monday, February 17th. Wells Fargo & Company upped their target price on Veeva Systems from $275.00 to $285.00 and gave the company an "overweight" rating in a research report on Friday, December 6th. Needham & Company LLC restated a "buy" rating and issued a $270.00 price target on shares of Veeva Systems in a research report on Thursday, March 6th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Veeva Systems from $218.00 to $249.00 and gave the stock a "neutral" rating in a research report on Thursday, March 20th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat.com, Veeva Systems presently has an average rating of "Moderate Buy" and an average price target of $256.52.
Read Our Latest Stock Analysis on Veeva Systems
Veeva Systems Trading Up 0.6 %
NYSE VEEV traded up $1.37 during mid-day trading on Tuesday, hitting $240.41. The company's stock had a trading volume of 1,056,406 shares, compared to its average volume of 1,010,891. The firm has a market capitalization of $39.03 billion, a price-to-earnings ratio of 59.36, a PEG ratio of 1.89 and a beta of 0.88. The company's 50 day simple moving average is $230.35 and its 200 day simple moving average is $222.59. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93.
Veeva Systems Profile
(
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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