Vanguard Group Inc. Raises Stake in Veeva Systems Inc. (NYSE:VEEV)

Vanguard Group Inc. grew its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 0.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,445,145 shares of the technology company's stock after buying an additional 32,028 shares during the period. Vanguard Group Inc. owned 8.90% of Veeva Systems worth $3,037,092,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. MassMutual Private Wealth & Trust FSB grew its position in Veeva Systems by 72.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company's stock worth $25,000 after acquiring an additional 50 shares during the period. Centricity Wealth Management LLC acquired a new position in shares of Veeva Systems in the 4th quarter valued at $25,000. Smithfield Trust Co grew its holdings 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 boosted its stake in Veeva Systems by 3,375.0% during the third quarter. True Wealth Design LLC now owns 139 shares of the technology company's stock worth $29,000 after buying an additional 135 shares during the period. Finally, Retirement Wealth Solutions LLC acquired a new stake in Veeva Systems in the 4th quarter valued at approximately $31,000. Institutional investors and hedge funds own 88.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on VEEV shares. Piper Sandler upped their target price on shares of Veeva Systems from $280.00 to $290.00 and gave the stock an "overweight" rating in a research note on Friday, December 6th. Truist Financial boosted their target price on shares of Veeva Systems from $210.00 to $217.00 and gave the stock a "hold" rating in a research note on Thursday, March 6th. Scotiabank raised their target price on Veeva Systems from $240.00 to $245.00 and gave the stock a "sector perform" rating in a research report on Thursday, March 6th. StockNews.com raised Veeva Systems from a "hold" rating to a "buy" rating in a report on Monday, February 17th. Finally, Barclays raised their price objective on shares of Veeva Systems from $260.00 to $275.00 and gave the stock an "overweight" rating in a report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Veeva Systems has an average rating of "Moderate Buy" and a consensus price target of $256.52.

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Veeva Systems Price Performance

Shares of VEEV stock traded down $3.38 during mid-day trading on Friday, hitting $234.10. The stock had a trading volume of 947,518 shares, compared to its average volume of 1,037,921. The firm 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. The company's 50-day simple moving average is $231.62 and its 200-day simple moving average is $222.87. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week 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.