Blair William & Co. IL Has $255.71 Million Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Blair William & Co. IL raised its position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 0.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,216,231 shares of the technology company's stock after acquiring an additional 3,608 shares during the period. Veeva Systems makes up 0.7% of Blair William & Co. IL's portfolio, making the stock its 27th biggest position. Blair William & Co. IL owned about 0.75% of Veeva Systems worth $255,713,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its position in Veeva Systems by 138.9% during the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company's stock worth $457,366,000 after purchasing an additional 1,267,061 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Veeva Systems by 73.2% in the third quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company's stock worth $536,972,000 after buying an additional 1,081,501 shares during the period. Wealthfront Advisers LLC grew its stake in shares of Veeva Systems by 29,760.5% in the fourth quarter. Wealthfront Advisers LLC now owns 1,048,700 shares of the technology company's stock valued at $220,489,000 after buying an additional 1,045,188 shares in the last quarter. FMR LLC raised its holdings in shares of Veeva Systems by 25.7% during the 3rd quarter. FMR LLC now owns 2,981,244 shares of the technology company's stock valued at $625,674,000 after buying an additional 610,021 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Veeva Systems during the 4th quarter worth approximately $95,710,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

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Veeva Systems Price Performance

Shares of VEEV traded down $4.52 during midday trading on Monday, hitting $229.69. The stock had a trading volume of 446,090 shares, compared to its average volume of 1,035,633. The firm has a market cap of $37.29 billion, a price-to-earnings ratio of 56.77, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88. The company has a 50 day simple moving average of $231.62 and a two-hundred day simple moving average of $222.87. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93.

Analysts Set New Price Targets

Several analysts have issued reports on VEEV shares. Mizuho started coverage on shares of Veeva Systems in a research report on Wednesday, December 4th. They issued an "outperform" rating and a $275.00 price objective for the company. KeyCorp dropped their price target on shares of Veeva Systems from $285.00 to $255.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 8th. Scotiabank upped their price objective on shares of Veeva Systems from $240.00 to $245.00 and gave the company a "sector perform" rating in a research report on Thursday, March 6th. The Goldman Sachs Group lowered Veeva Systems from a "buy" rating to a "sell" rating and dropped their target price for the stock from $261.00 to $200.00 in a research report on Thursday, January 23rd. Finally, Needham & Company LLC reissued a "buy" rating and issued a $270.00 price target on shares of Veeva Systems in a 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 $256.52.

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.