TD Asset Management Inc. Grows Stock Position in Veeva Systems Inc. (NYSE:VEEV)

TD Asset Management Inc. boosted its holdings in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 6.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 452,553 shares of the technology company's stock after purchasing an additional 27,396 shares during the quarter. TD Asset Management Inc. owned about 0.28% of Veeva Systems worth $95,149,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in VEEV. Prudential Financial Inc. boosted its holdings in Veeva Systems by 982.2% during the 4th quarter. Prudential Financial Inc. now owns 122,120 shares of the technology company's stock worth $25,676,000 after acquiring an additional 110,836 shares during the last quarter. Twin City Private Wealth LLC boosted its holdings in Veeva Systems by 2.9% during the fourth quarter. Twin City Private Wealth LLC now owns 2,036 shares of the technology company's stock worth $428,000 after purchasing an additional 58 shares during the last quarter. Cannon Global Investment Management LLC bought a new stake in Veeva Systems in the 4th quarter worth about $778,000. Stevens Capital Management LP purchased a new stake in Veeva Systems in the 4th quarter valued at about $359,000. Finally, LPL Financial LLC lifted its position in shares of Veeva Systems by 13.6% during the 4th quarter. LPL Financial LLC now owns 131,341 shares of the technology company's stock worth $27,614,000 after buying an additional 15,727 shares in the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on VEEV shares. 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 report on Thursday, March 6th. Needham & Company LLC reiterated a "buy" rating and issued a $270.00 target price on shares of Veeva Systems in a research note on Thursday, March 6th. Canaccord Genuity Group raised their price target on shares of Veeva Systems from $210.00 to $270.00 and gave the stock a "hold" rating in a research note on Friday, December 6th. Bank of America boosted their target price on Veeva Systems from $280.00 to $290.00 and gave the company a "neutral" rating in a research note on Friday, December 6th. Finally, Piper Sandler boosted their price objective on Veeva Systems from $280.00 to $290.00 and gave the company an "overweight" rating in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $256.52.

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Veeva Systems Stock Performance

VEEV traded down $3.38 during trading on Friday, reaching $234.10. The stock had a trading volume of 947,518 shares, compared to its average volume of 1,037,921. The business has a 50-day moving average of $231.62 and a 200-day moving average of $222.87. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93. The stock has a market cap of $38.01 billion, a PE ratio of 57.80, a PEG ratio of 1.89 and a beta of 0.88.

Veeva Systems Company 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.