Proficio Capital Partners LLC bought a new stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 107,228 shares of the technology company's stock, valued at approximately $22,545,000. Proficio Capital Partners LLC owned approximately 0.07% of Veeva Systems as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. MassMutual Private Wealth & Trust FSB lifted its holdings in Veeva Systems by 72.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company's stock worth $25,000 after acquiring an additional 50 shares during the period. Centricity Wealth Management LLC bought a new stake in Veeva Systems during the fourth quarter worth $25,000. Smithfield Trust Co lifted its holdings in 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 acquiring an additional 80 shares during the period. True Wealth Design LLC lifted its holdings in Veeva Systems by 3,375.0% during the third quarter. True Wealth Design LLC now owns 139 shares of the technology company's stock worth $29,000 after acquiring an additional 135 shares during the period. Finally, Retirement Wealth Solutions LLC bought a new stake in Veeva Systems during the fourth quarter worth $31,000. 88.20% of the stock is currently owned by institutional investors.
Veeva Systems Stock Performance
Veeva Systems stock traded down $0.91 during midday trading on Tuesday, hitting $236.05. 859,256 shares of the company's stock were exchanged, compared to its average volume of 1,005,609. The stock has a 50-day moving average price of $227.61 and a two-hundred day moving average price of $221.69. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93. The company has a market cap of $38.32 billion, a P/E ratio of 58.28, a PEG ratio of 1.89 and a beta of 0.88.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on the company. Morgan Stanley lifted their price target on Veeva Systems from $195.00 to $201.00 and gave the stock an "underweight" rating in a report on Thursday, March 6th. Wells Fargo & Company boosted their target price on Veeva Systems from $275.00 to $285.00 and gave the company an "overweight" rating in a research note on Friday, December 6th. Canaccord Genuity Group boosted 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. Stifel Nicolaus boosted their target price on Veeva Systems from $240.00 to $272.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Finally, Scotiabank boosted their target price on Veeva Systems from $240.00 to $245.00 and gave the company a "sector perform" rating in a research note on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $255.28.
Check Out Our Latest Research Report on Veeva Systems
Veeva Systems Profile
(
Free Report)
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.
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