Stevens Capital Management LP Purchases New Shares in Veeva Systems Inc. (NYSE:VEEV)

Stevens Capital Management LP bought a new position in Veeva Systems Inc. (NYSE:VEEV - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 1,706 shares of the technology company's stock, valued at approximately $359,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Toronto Dominion Bank increased its holdings in Veeva Systems by 39.1% during the third quarter. Toronto Dominion Bank now owns 20,180 shares of the technology company's stock valued at $4,235,000 after buying an additional 5,673 shares during the period. Principal Financial Group Inc. increased its holdings 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 acquiring an additional 1,267,061 shares during the period. Smith Group Asset Management LLC increased its holdings in shares of Veeva Systems by 2.2% in the 4th quarter. Smith Group Asset Management LLC now owns 82,567 shares of the technology company's stock valued at $17,360,000 after acquiring an additional 1,749 shares during the period. Everence Capital Management Inc. bought a new position in shares of Veeva Systems in the 4th quarter worth $816,000. Finally, Venturi Wealth Management LLC lifted its stake in shares of Veeva Systems by 2,716.7% during the 4th quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company's stock worth $36,000 after purchasing an additional 163 shares during the last quarter. Institutional investors own 88.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on VEEV. Needham & Company LLC reiterated a "buy" rating and issued a $270.00 target price on shares of Veeva Systems 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 stock an "overweight" rating in a research note on Friday, December 6th. The Goldman Sachs Group downgraded shares of Veeva Systems from a "buy" rating to a "sell" rating and lowered their target price for the company from $261.00 to $200.00 in a research note on Thursday, January 23rd. Stifel Nicolaus upped their price target on Veeva Systems from $240.00 to $272.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. Finally, Wells Fargo & Company increased their price objective on Veeva Systems from $275.00 to $285.00 and gave the company an "overweight" rating in a report on Friday, December 6th. Two investment 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. Based on data from MarketBeat, Veeva Systems has an average rating of "Moderate Buy" and a consensus price target of $256.52.

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Veeva Systems Trading Up 0.6 %

Shares of NYSE VEEV traded up $1.37 during trading on Tuesday, reaching $240.41. 1,056,406 shares of the company traded hands, compared to its average volume of 1,010,891. Veeva Systems Inc. has a 12-month low of $170.25 and a 12-month high of $258.93. The stock has a market cap of $39.03 billion, a P/E ratio of 59.36, a PEG ratio of 1.89 and a beta of 0.88. The firm's fifty day simple moving average is $229.76 and its 200 day simple moving average is $222.42.

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.