Clare Market Investments LLC Purchases New Position in Veeva Systems Inc. (NYSE:VEEV)

Clare Market Investments LLC bought a new position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,410 shares of the technology company's stock, valued at approximately $296,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. MassMutual Private Wealth & Trust FSB raised its position 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 valued at $25,000 after buying an additional 50 shares during the period. Centricity Wealth Management LLC acquired a new position in shares of Veeva Systems in the 4th quarter valued at about $25,000. Smithfield Trust Co increased its stake in Veeva Systems by 145.5% in the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company's stock valued at $27,000 after buying an additional 80 shares during the period. True Wealth Design LLC increased its stake in Veeva Systems by 3,375.0% in the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company's stock valued at $29,000 after buying an additional 135 shares during the period. Finally, Avion Wealth increased 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 buying an additional 127 shares during the period. 88.20% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. StockNews.com raised shares of Veeva Systems from a "hold" rating to a "buy" rating in a research note on Monday, February 17th. JPMorgan Chase & Co. upped 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. KeyCorp dropped their price objective on Veeva Systems from $285.00 to $255.00 and set an "overweight" rating on the stock in a report on Wednesday, January 8th. Evercore ISI increased their price objective on Veeva Systems from $220.00 to $245.00 and gave the stock an "in-line" rating in a report on Friday, December 6th. Finally, Mizuho began coverage on shares of Veeva Systems in a research note on Wednesday, December 4th. They set an "outperform" rating and a $275.00 price target on the stock. Two analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, Veeva Systems presently has a consensus rating of "Moderate Buy" and a consensus target price of $255.28.

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Veeva Systems Trading Down 3.5 %

VEEV traded down $8.35 on Tuesday, hitting $231.30. 2,191,496 shares of the stock traded hands, compared to its average volume of 1,203,883. The business has a fifty day moving average price of $225.89 and a two-hundred day moving average price of $220.87. The firm has a market capitalization of $37.55 billion, a PE ratio of 57.11, a P/E/G ratio of 1.89 and a beta of 0.88. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93.

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.