Murphy & Mullick Capital Management Corp Takes $685,000 Position in Veeva Systems Inc. (NYSE:VEEV)

Murphy & Mullick Capital Management Corp purchased a new position in Veeva Systems Inc. (NYSE:VEEV - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 3,260 shares of the technology company's stock, valued at approximately $685,000.

A number of other institutional investors have also made changes to their positions in the stock. Toronto Dominion Bank lifted its position in Veeva Systems by 39.1% in the 3rd quarter. Toronto Dominion Bank now owns 20,180 shares of the technology company's stock valued at $4,235,000 after acquiring an additional 5,673 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Veeva Systems by 138.9% during the 3rd 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 period. Smith Group Asset Management LLC increased its holdings in shares of Veeva Systems by 2.2% in the fourth quarter. Smith Group Asset Management LLC now owns 82,567 shares of the technology company's stock valued at $17,360,000 after purchasing an additional 1,749 shares during the last quarter. Everence Capital Management Inc. acquired a new stake in Veeva Systems during the fourth quarter worth approximately $816,000. Finally, Venturi Wealth Management LLC boosted its position in shares of Veeva Systems by 2,716.7% in the fourth quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company's stock valued at $36,000 after acquiring an additional 163 shares during the period. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Stock Down 1.4 %

NYSE VEEV traded down $3.38 on Friday, reaching $234.10. The company had a trading volume of 947,518 shares, compared to its average volume of 1,037,921. The company's fifty day moving average is $231.62 and its 200 day moving average is $222.87. The stock has a market capitalization of $38.01 billion, a P/E ratio of 57.80, a P/E/G ratio of 1.89 and a beta of 0.88. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93.

Remove Ads

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Bank of America boosted their price target on Veeva Systems from $280.00 to $290.00 and gave the company a "neutral" rating in a research note on Friday, December 6th. Scotiabank boosted their price objective on shares of Veeva Systems from $240.00 to $245.00 and gave the company a "sector perform" rating in a research report on Thursday, March 6th. StockNews.com raised Veeva Systems from a "hold" rating to a "buy" rating in a report on Monday, February 17th. Needham & Company LLC reissued a "buy" rating and set a $270.00 price target on shares of Veeva Systems in a report on Thursday, March 6th. Finally, Royal Bank of Canada upped their price objective on Veeva Systems from $275.00 to $285.00 and gave the stock an "outperform" rating in a research report on Friday, December 6th. Two 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's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus 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.