Sequoia Financial Advisors LLC Has $3.72 Million Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Sequoia Financial Advisors LLC grew its holdings in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 7.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,676 shares of the technology company's stock after buying an additional 1,227 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Veeva Systems were worth $3,716,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in VEEV. Massachusetts Financial Services Co. MA grew its position in Veeva Systems by 64.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company's stock valued at $744,084,000 after acquiring an additional 1,392,256 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Veeva Systems by 138.9% in the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company's stock valued at $457,366,000 after purchasing an additional 1,267,061 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Veeva Systems by 73.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company's stock worth $536,972,000 after purchasing an additional 1,081,501 shares during the last quarter. Wealthfront Advisers LLC lifted its holdings in Veeva Systems by 29,760.5% during the 4th quarter. Wealthfront Advisers LLC now owns 1,048,700 shares of the technology company's stock valued at $220,489,000 after purchasing an additional 1,045,188 shares during the last quarter. Finally, FMR LLC increased its holdings in shares of Veeva Systems by 25.7% during the third 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 in the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Veeva Systems Stock Up 1.2 %

NYSE VEEV traded up $2.87 during trading on Monday, reaching $236.93. 891,907 shares of the stock traded hands, compared to its average volume of 1,200,786. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93. The firm has a market cap of $38.47 billion, a price-to-earnings ratio of 58.50, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88. The stock's 50-day moving average price is $227.12 and its 200 day moving average price is $221.55.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Canaccord Genuity Group boosted their target price on Veeva Systems from $210.00 to $270.00 and gave the stock a "hold" rating in a report on Friday, December 6th. Robert W. Baird raised their target price on Veeva Systems from $283.00 to $285.00 and gave the company an "outperform" rating in a research note on Thursday, March 6th. KeyCorp cut their price target on Veeva Systems from $285.00 to $255.00 and set an "overweight" rating for the company in a report on Wednesday, January 8th. StockNews.com upgraded shares of Veeva Systems from a "hold" rating to a "buy" rating in a research report on Monday, February 17th. Finally, Stephens reiterated an "overweight" rating and set a $280.00 target price on shares of Veeva Systems in a research report on Thursday, March 6th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, Veeva Systems has an average rating of "Moderate Buy" and an average target price of $255.28.

About Veeva Systems

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.