Harvest Fund Management Co. Ltd Purchases 2,183 Shares of Veeva Systems Inc. (NYSE:VEEV)

Harvest Fund Management Co. Ltd boosted its position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 940.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,415 shares of the technology company's stock after purchasing an additional 2,183 shares during the period. Harvest Fund Management Co. Ltd's holdings in Veeva Systems were worth $508,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted its holdings in shares of Veeva Systems by 64.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company's stock valued at $744,084,000 after buying an additional 1,392,256 shares during the last quarter. State Street Corp lifted its stake in Veeva Systems by 1.5% in the third quarter. State Street Corp now owns 3,293,141 shares of the technology company's stock valued at $691,132,000 after acquiring an additional 47,872 shares during the last quarter. FMR LLC lifted its stake in Veeva Systems by 25.7% in the third quarter. FMR LLC now owns 2,981,244 shares of the technology company's stock valued at $625,674,000 after acquiring an additional 610,021 shares during the last quarter. Principal Financial Group Inc. grew its position in Veeva Systems by 36.0% in the fourth quarter. Principal Financial Group Inc. now owns 2,964,025 shares of the technology company's stock worth $623,186,000 after acquiring an additional 784,741 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Veeva Systems by 5.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,765,236 shares of the technology company's stock worth $579,630,000 after purchasing an additional 149,807 shares during the last quarter. Hedge funds and other institutional investors own 88.20% of the company's stock.

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Veeva Systems Trading Up 0.6 %

NYSE VEEV traded up $1.37 on Tuesday, reaching $240.41. The company's stock had a trading volume of 1,056,406 shares, compared to its average volume of 1,010,292. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93. The firm has a market cap of $39.03 billion, a PE ratio of 59.36, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88. The business has a 50-day moving average price of $230.35 and a 200 day moving average price of $222.59.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on VEEV shares. Morgan Stanley upped their price objective on shares of Veeva Systems from $195.00 to $201.00 and gave the stock an "underweight" rating in a report on Thursday, March 6th. JPMorgan Chase & Co. increased their price objective on Veeva Systems from $218.00 to $249.00 and gave the company a "neutral" rating in a report on Thursday, March 20th. Stifel Nicolaus raised their price objective on Veeva Systems from $240.00 to $272.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Royal Bank of Canada upped their target price on Veeva Systems from $275.00 to $285.00 and gave the stock an "outperform" rating in a research report on Friday, December 6th. Finally, KeyCorp dropped their price target on shares of Veeva Systems from $285.00 to $255.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. 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.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $256.52.

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.