Quantbot Technologies LP Grows Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Quantbot Technologies LP boosted its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 269.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,805 shares of the technology company's stock after buying an additional 7,884 shares during the quarter. Quantbot Technologies LP's holdings in Veeva Systems were worth $2,272,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. State Street Corp raised its holdings in shares of Veeva Systems by 1.5% in the 3rd quarter. State Street Corp now owns 3,293,141 shares of the technology company's stock valued at $691,132,000 after purchasing an additional 47,872 shares in the last quarter. FMR LLC lifted its holdings in Veeva Systems by 25.7% during the 3rd quarter. FMR LLC now owns 2,981,244 shares of the technology company's stock worth $625,674,000 after buying an additional 610,021 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Veeva Systems by 36.0% during the 4th quarter. Principal Financial Group Inc. now owns 2,964,025 shares of the technology company's stock worth $623,186,000 after acquiring an additional 784,741 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Veeva Systems by 5.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,765,236 shares of the technology company's stock valued at $579,630,000 after acquiring an additional 149,807 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Veeva Systems by 73.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company's stock worth $536,972,000 after acquiring an additional 1,081,501 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

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Veeva Systems Trading Up 0.2 %

Shares of NYSE VEEV traded up $0.50 during midday trading on Tuesday, reaching $239.54. 500,468 shares of the stock were exchanged, compared to its average volume of 1,011,551. The company has a market capitalization of $38.89 billion, a P/E ratio of 59.16, a P/E/G ratio of 1.89 and a beta of 0.88. The stock has a 50 day moving average price of $229.76 and a 200-day moving average price of $222.42. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Mizuho started coverage on Veeva Systems in a report on Wednesday, December 4th. They issued an "outperform" rating and a $275.00 price target for the company. Scotiabank lifted 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 note on Thursday, March 6th. Robert W. Baird increased their price target on Veeva Systems from $283.00 to $285.00 and gave the stock an "outperform" rating in a report on Thursday, March 6th. Barclays boosted their price objective on shares of Veeva Systems from $260.00 to $275.00 and gave the company an "overweight" rating in a research note on Friday, December 6th. Finally, JPMorgan Chase & Co. raised their target price on shares of Veeva Systems from $218.00 to $249.00 and gave the stock a "neutral" rating in a research note on Thursday, March 20th. 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's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price 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.