Skandinaviska Enskilda Banken AB publ Has $50.07 Million Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Skandinaviska Enskilda Banken AB publ increased its stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 14.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 236,757 shares of the technology company's stock after acquiring an additional 29,338 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned about 0.15% of Veeva Systems worth $50,067,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of VEEV. MassMutual Private Wealth & Trust FSB raised its holdings in Veeva Systems by 72.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company's stock valued at $25,000 after buying an additional 50 shares during the period. Centricity Wealth Management LLC bought a new stake in shares of Veeva Systems in the 4th quarter worth about $25,000. Smithfield Trust Co boosted its stake in shares of Veeva Systems by 145.5% during the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company's stock worth $27,000 after purchasing an additional 80 shares during the period. True Wealth Design LLC grew its holdings in Veeva Systems by 3,375.0% during the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company's stock valued at $29,000 after purchasing an additional 135 shares during the last quarter. Finally, Avion Wealth raised its position in Veeva Systems by 635.0% in the 4th quarter. Avion Wealth now owns 147 shares of the technology company's stock worth $30,000 after purchasing an additional 127 shares during the period. 88.20% of the stock is currently owned by institutional investors.

Remove Ads

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on VEEV shares. Canaccord Genuity Group lifted their price objective on shares of Veeva Systems from $210.00 to $270.00 and gave the company a "hold" rating in a report on Friday, December 6th. Morgan Stanley lifted their price objective on Veeva Systems from $195.00 to $201.00 and gave the company an "underweight" rating in a report on Thursday, March 6th. Wells Fargo & Company raised their target price on shares of Veeva Systems from $275.00 to $285.00 and gave the company an "overweight" rating in a research report on Friday, December 6th. Mizuho assumed coverage on Veeva Systems in a research report on Wednesday, December 4th. They set an "outperform" rating and a $275.00 target price on the stock. Finally, KeyCorp reduced their price target on Veeva Systems from $285.00 to $255.00 and set an "overweight" rating for the company in a research report on Wednesday, January 8th. Two 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. According to data from MarketBeat, Veeva Systems presently has an average rating of "Moderate Buy" and an average target price of $255.28.

Veeva Systems Stock Performance

Shares of NYSE:VEEV traded up $2.87 during trading on Monday, reaching $236.93. The company had a trading volume of 891,907 shares, compared to its average volume of 1,006,277. The firm's fifty day moving average is $227.12 and its 200 day moving average is $221.55. The firm has a market capitalization of $38.47 billion, a PE ratio of 58.50, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93.

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.