Generali Asset Management SPA SGR Purchases New Position in Veeva Systems Inc. (NYSE:VEEV)

Generali Asset Management SPA SGR bought a new position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 16,134 shares of the technology company's stock, valued at approximately $3,392,000.

A number of other institutional investors have also added to or reduced their stakes in VEEV. MassMutual Private Wealth & Trust FSB lifted its position in shares of Veeva Systems by 72.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company's stock worth $25,000 after acquiring an additional 50 shares during the period. Centricity Wealth Management LLC acquired a new position in shares of Veeva Systems in the fourth quarter valued at $25,000. Smithfield Trust Co lifted its position in 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 during the period. True Wealth Design LLC boosted its stake in Veeva Systems by 3,375.0% during the third quarter. True Wealth Design LLC now owns 139 shares of the technology company's stock worth $29,000 after buying an additional 135 shares in the last quarter. Finally, Avion Wealth boosted its stake in Veeva Systems by 635.0% during the fourth quarter. Avion Wealth now owns 147 shares of the technology company's stock worth $30,000 after buying an additional 127 shares in the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on VEEV shares. JPMorgan Chase & Co. lifted their target price on shares of Veeva Systems from $218.00 to $249.00 and gave the company a "neutral" rating in a research report on Thursday. Bank of America lifted their price objective on Veeva Systems from $280.00 to $290.00 and gave the company a "neutral" rating in a report on Friday, December 6th. Barclays increased their target price on Veeva Systems from $260.00 to $275.00 and gave the stock an "overweight" rating in a report on Friday, December 6th. Stifel Nicolaus upped their price target on Veeva Systems from $240.00 to $272.00 and gave the company a "buy" rating in a research report on Friday, December 6th. Finally, Canaccord Genuity Group lifted their price objective on Veeva Systems from $210.00 to $270.00 and gave the company a "hold" rating in a report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, Veeva Systems currently has a consensus rating of "Moderate Buy" and a consensus price target of $256.52.

Remove Ads

Veeva Systems Stock Performance

VEEV traded up $2.29 during trading on Monday, reaching $239.06. 1,230,890 shares of the company's stock were exchanged, compared to its average volume of 1,011,597. The company's fifty day moving average price is $229.24 and its 200-day moving average price is $222.25. The firm has a market capitalization of $38.81 billion, a PE ratio of 59.03, 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.

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.