Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 1,387 Veeva Systems Inc. (NYSE:VEEV)

Connor Clark & Lunn Investment Management Ltd. bought 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 Form 13F filing with the SEC. The firm bought 1,387 shares of the technology company's stock, valued at approximately $292,000.

A number of other institutional investors also recently made changes to their positions in VEEV. Principal Financial Group Inc. lifted its holdings in shares of Veeva Systems by 138.9% in the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company's stock valued at $457,366,000 after buying an additional 1,267,061 shares during the period. Mutual of America Capital Management LLC boosted its position in shares of Veeva Systems by 51.3% during the 3rd quarter. Mutual of America Capital Management LLC now owns 3,432 shares of the technology company's stock valued at $720,000 after purchasing an additional 1,163 shares in the last quarter. Pathstone Holdings LLC grew its stake in shares of 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 purchasing an additional 1,508 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Veeva Systems by 5.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 30,188 shares of the technology company's stock worth $6,336,000 after purchasing an additional 1,553 shares in the last quarter. Finally, Commerce Bank lifted its stake in Veeva Systems by 4.4% during the third quarter. Commerce Bank now owns 6,330 shares of the technology company's stock valued at $1,328,000 after purchasing an additional 265 shares during the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

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Veeva Systems Trading Up 0.3 %

NYSE:VEEV traded up $0.84 during mid-day trading on Tuesday, hitting $239.88. The company's stock had a trading volume of 444,505 shares, compared to its average volume of 1,011,551. The company has a market capitalization of $38.94 billion, a price-to-earnings ratio of 59.23, a P/E/G 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. The stock has a fifty day moving average of $229.76 and a 200-day moving average of $222.42.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on VEEV. Needham & Company LLC restated a "buy" rating and issued a $270.00 target price on shares of Veeva Systems in a report on Thursday, March 6th. Citigroup boosted their price objective on Veeva Systems from $281.00 to $307.00 and gave the stock a "buy" rating in a report on Monday, December 9th. Truist Financial raised their target price on shares of Veeva Systems from $210.00 to $217.00 and gave the stock a "hold" rating in a report on Thursday, March 6th. Canaccord Genuity Group upped their price target on shares of Veeva Systems from $210.00 to $270.00 and gave the company a "hold" rating in a research report on Friday, December 6th. Finally, Scotiabank raised their price objective on shares of Veeva Systems from $240.00 to $245.00 and gave the stock a "sector perform" rating in a research note on Thursday, March 6th. Two equities research 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's stock. According to MarketBeat.com, Veeva Systems presently has an average rating of "Moderate Buy" and an average target price of $256.52.

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.