Jensen Investment Management Inc. Has $5.30 Million Position in Veeva Systems Inc. (NYSE:VEEV)

Jensen Investment Management Inc. grew its stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 8.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,211 shares of the technology company's stock after acquiring an additional 1,960 shares during the period. Jensen Investment Management Inc.'s holdings in Veeva Systems were worth $5,301,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB raised its position 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 in the last quarter. Centricity Wealth Management LLC bought a new stake in Veeva Systems during the fourth quarter valued at $25,000. Smithfield Trust Co raised its holdings in shares of Veeva Systems by 145.5% during 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 lifted its position in shares of Veeva Systems by 3,375.0% in the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company's stock worth $29,000 after buying an additional 135 shares during the last quarter. Finally, Retirement Wealth Solutions LLC acquired a new position in shares of Veeva Systems in the 4th quarter valued at about $31,000. Institutional investors own 88.20% of the company's stock.

Veeva Systems Stock Down 0.6 %

NYSE:VEEV traded down $1.46 during trading hours on Thursday, reaching $235.71. 738,283 shares of the company's stock were exchanged, compared to its average volume of 1,005,317. The company has a market capitalization of $38.27 billion, a P/E ratio of 58.20, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88. The business's 50-day simple moving average is $228.49 and its two-hundred day simple moving average is $221.93. Veeva Systems Inc. has a 12 month low of $170.25 and a 12 month high of $258.93.

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Wall Street Analyst Weigh In

Several research firms recently weighed in on VEEV. KeyCorp dropped their price objective on shares of Veeva Systems from $285.00 to $255.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 8th. StockNews.com upgraded Veeva Systems from a "hold" rating to a "buy" rating in a research report on Monday, February 17th. The Goldman Sachs Group lowered Veeva Systems from a "buy" rating to a "sell" rating and reduced their price objective for the company from $261.00 to $200.00 in a research report on Thursday, January 23rd. Piper Sandler increased their target price on Veeva Systems from $280.00 to $290.00 and gave the stock an "overweight" rating in a research report on Friday, December 6th. Finally, Royal Bank of Canada raised their target price on Veeva Systems from $275.00 to $285.00 and gave the company an "outperform" rating in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, Veeva Systems currently has an average rating of "Moderate Buy" and a consensus price target of $256.52.

Veeva Systems 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.