Veeva Systems Inc. (NYSE:VEEV) Shares Bought by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lifted its stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 28.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,641 shares of the technology company's stock after acquiring an additional 8,280 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Veeva Systems were worth $7,914,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Massachusetts Financial Services Co. MA lifted its stake in Veeva Systems by 64.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company's stock worth $744,084,000 after acquiring an additional 1,392,256 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Veeva Systems by 138.9% in the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company's stock valued at $457,366,000 after purchasing an additional 1,267,061 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Veeva Systems by 73.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company's stock worth $536,972,000 after purchasing an additional 1,081,501 shares during the last quarter. Wealthfront Advisers LLC grew its stake in shares of Veeva Systems by 29,760.5% during the fourth quarter. Wealthfront Advisers LLC now owns 1,048,700 shares of the technology company's stock worth $220,489,000 after purchasing an additional 1,045,188 shares in the last quarter. Finally, FMR LLC grew its stake in shares of Veeva Systems by 25.7% during the third quarter. FMR LLC now owns 2,981,244 shares of the technology company's stock worth $625,674,000 after purchasing an additional 610,021 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Wall Street Analyst Weigh In

A number of analysts have issued reports on VEEV shares. KeyCorp decreased their price target on Veeva Systems from $285.00 to $255.00 and set an "overweight" rating for the company in a report on Wednesday, January 8th. Barclays raised their target price on Veeva Systems from $260.00 to $275.00 and gave the stock an "overweight" rating in a research report on Friday, December 6th. Royal Bank of Canada upped their price target on Veeva Systems from $275.00 to $285.00 and gave the company an "outperform" rating in a report on Friday, December 6th. The Goldman Sachs Group cut shares of Veeva Systems from a "buy" rating to a "sell" rating and cut their price objective for the stock from $261.00 to $200.00 in a report on Thursday, January 23rd. Finally, Canaccord Genuity Group upped their target price on shares of Veeva Systems from $210.00 to $270.00 and gave the company a "hold" rating in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Veeva Systems currently has an average rating of "Moderate Buy" and a consensus price target of $256.52.

Veeva Systems Stock Up 0.5 %

NYSE:VEEV traded up $1.13 during midday trading on Friday, reaching $236.98. The stock had a trading volume of 1,192,386 shares, compared to its average volume of 1,008,032. The stock has a market cap of $38.47 billion, a P/E ratio of 58.51, a P/E/G ratio of 1.89 and a beta of 0.88. The firm has a fifty day simple moving average of $228.86 and a two-hundred day simple moving average of $222.03. Veeva Systems Inc. has a 12-month low of $170.25 and a 12-month 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.