Counterpoint Mutual Funds LLC Buys Shares of 1,572 Veeva Systems Inc. (NYSE:VEEV)

Counterpoint Mutual Funds LLC acquired a new position in Veeva Systems Inc. (NYSE:VEEV - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,572 shares of the technology company's stock, valued at approximately $331,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. MassMutual Private Wealth & Trust FSB grew its stake in shares of Veeva Systems by 72.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company's stock valued at $25,000 after acquiring an additional 50 shares during the period. Centricity Wealth Management LLC bought a new position in shares of Veeva Systems in the fourth quarter worth approximately $25,000. Smithfield Trust Co increased its stake in shares of Veeva Systems by 145.5% in the fourth quarter. Smithfield Trust Co now owns 135 shares of the technology company's stock worth $27,000 after purchasing an additional 80 shares in the last quarter. True Wealth Design LLC raised its position in shares of Veeva Systems by 3,375.0% during the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company's stock valued at $29,000 after purchasing an additional 135 shares during the period. Finally, Avion Wealth lifted its stake in shares of Veeva Systems by 635.0% during 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 in the last quarter. Hedge funds and other institutional investors own 88.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Citigroup raised their price target on Veeva Systems from $281.00 to $307.00 and gave the company a "buy" rating in a report on Monday, December 9th. KeyCorp cut their price objective on shares of Veeva Systems from $285.00 to $255.00 and set an "overweight" rating for the company in a report on Wednesday, January 8th. Robert W. Baird upped their target price on shares of Veeva Systems from $283.00 to $285.00 and gave the stock an "outperform" rating in a research report on Thursday, March 6th. 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 for the company. Finally, Evercore ISI increased their price target on 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 research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $256.52.

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Veeva Systems Stock Performance

Veeva Systems stock traded up $1.13 during mid-day trading on Friday, hitting $236.98. The company's stock had a trading volume of 1,192,386 shares, compared to its average volume of 1,179,476. The company has a 50 day moving average of $228.86 and a 200-day moving average of $222.03. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93. The stock has a market cap of $38.47 billion, a PE ratio of 58.51, a P/E/G 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.