10,470 Shares in Veeva Systems Inc. (NYSE:VEEV) Bought by Postrock Partners LLC

Postrock Partners LLC bought a new position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,470 shares of the technology company's stock, valued at approximately $2,201,000. Veeva Systems makes up 1.1% of Postrock Partners LLC's investment portfolio, making the stock its 19th biggest holding.

Other large investors have also bought and sold shares of the company. Principal Financial Group Inc. boosted its position in 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 last quarter. Atria Investments Inc boosted its position in Veeva Systems by 13.7% during the 3rd quarter. Atria Investments Inc now owns 14,999 shares of the technology company's stock worth $3,148,000 after acquiring an additional 1,811 shares during the last quarter. GSA Capital Partners LLP acquired a new position in Veeva Systems during the 3rd quarter worth approximately $526,000. Simmons Bank acquired a new position in Veeva Systems during the 3rd quarter worth approximately $952,000. Finally, Oppenheimer Asset Management Inc. boosted its position in Veeva Systems by 3.6% during the 3rd 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. 88.20% of the stock is owned by institutional investors.

Veeva Systems Trading Down 0.4 %

VEEV stock traded down $0.91 during trading hours on Tuesday, hitting $236.05. 859,258 shares of the stock were exchanged, compared to its average volume of 1,005,609. The firm has a market capitalization of $38.32 billion, a P/E ratio of 58.28, a P/E/G ratio of 1.89 and a beta of 0.88. The company has a 50-day simple moving average of $227.61 and a two-hundred day simple moving average of $221.69. Veeva Systems Inc. has a 12 month low of $170.25 and a 12 month high of $258.93.

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Analysts Set New Price Targets

A number of research firms have weighed in on VEEV. Robert W. Baird upped their price target on Veeva Systems from $283.00 to $285.00 and gave the stock an "outperform" rating in a research report on Thursday, March 6th. JPMorgan Chase & Co. increased their price objective on Veeva Systems from $208.00 to $218.00 and gave the company a "neutral" rating in a report on Monday, December 16th. Needham & Company LLC reissued a "buy" rating and issued a $270.00 price objective on shares of Veeva Systems in a report on Thursday, March 6th. Barclays increased their price objective on Veeva Systems from $260.00 to $275.00 and gave the company an "overweight" rating in a report on Friday, December 6th. Finally, Stephens reissued an "overweight" rating and issued a $280.00 price objective on shares of Veeva Systems in a report on Thursday, March 6th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $255.28.

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.