Veeva Systems Inc. (NYSE:VEEV) Stake Boosted by Moran Wealth Management LLC

Moran Wealth Management LLC increased its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 3.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 64,664 shares of the technology company's stock after buying an additional 1,906 shares during the quarter. Moran Wealth Management LLC's holdings in Veeva Systems were worth $13,596,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Toronto Dominion Bank increased its position in shares of Veeva Systems by 39.1% during the third quarter. Toronto Dominion Bank now owns 20,180 shares of the technology company's stock worth $4,235,000 after acquiring an additional 5,673 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Veeva Systems by 138.9% during the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company's stock worth $457,366,000 after acquiring an additional 1,267,061 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of Veeva Systems by 3.6% during the third quarter. Oppenheimer Asset Management Inc. now owns 78,000 shares of the technology company's stock worth $16,370,000 after acquiring an additional 2,733 shares during the last quarter. Assetmark Inc. increased its position in shares of Veeva Systems by 46.4% during the third quarter. Assetmark Inc. now owns 48,205 shares of the technology company's stock worth $10,117,000 after acquiring an additional 15,289 shares during the last quarter. Finally, Smith Group Asset Management LLC increased its position in shares of Veeva Systems by 2.2% during the fourth quarter. Smith Group Asset Management LLC now owns 82,567 shares of the technology company's stock worth $17,360,000 after acquiring an additional 1,749 shares during the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

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Veeva Systems Price Performance

NYSE VEEV traded down $7.42 on Monday, hitting $239.38. 2,104,861 shares of the stock were exchanged, compared to its average volume of 1,181,926. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93. The company has a market capitalization of $38.86 billion, a price-to-earnings ratio of 59.11, a P/E/G ratio of 1.89 and a beta of 0.88. The company's 50-day moving average price is $225.47 and its two-hundred day moving average price is $220.64.

Wall Street Analysts Forecast Growth

VEEV has been the subject of a number of research reports. KeyCorp decreased their price target on Veeva Systems from $285.00 to $255.00 and set an "overweight" rating for the company in a research note on Wednesday, January 8th. Robert W. Baird lifted their price target on Veeva Systems from $283.00 to $285.00 and gave the stock an "outperform" rating in a research note on Thursday. Evercore ISI lifted their target price 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. Canaccord Genuity Group lifted their target price on Veeva Systems from $210.00 to $270.00 and gave the company a "hold" rating in a research note on Friday, December 6th. Finally, JPMorgan Chase & Co. lifted their target price on Veeva Systems from $208.00 to $218.00 and gave the company a "neutral" rating in a research note on Monday, December 16th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $255.28.

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.