Orion Portfolio Solutions LLC raised its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 438.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 44,153 shares of the technology company's stock after acquiring an additional 35,958 shares during the period. Orion Portfolio Solutions LLC's holdings in Veeva Systems were worth $9,283,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of VEEV. State Street Corp lifted its position in Veeva Systems by 1.5% during the 3rd quarter. State Street Corp now owns 3,293,141 shares of the technology company's stock worth $691,132,000 after acquiring an additional 47,872 shares during the period. JPMorgan Chase & Co. boosted its position in Veeva Systems by 17.5% in the 4th quarter. JPMorgan Chase & Co. now owns 3,005,633 shares of the technology company's stock worth $631,935,000 after purchasing an additional 447,041 shares in the last quarter. FMR LLC grew its stake 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 worth $625,674,000 after purchasing an additional 610,021 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Veeva Systems by 36.0% during the 4th quarter. Principal Financial Group Inc. now owns 2,964,025 shares of the technology company's stock valued at $623,186,000 after purchasing an additional 784,741 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Veeva Systems by 5.7% during the third quarter. Geode Capital Management LLC now owns 2,765,236 shares of the technology company's stock worth $579,630,000 after buying an additional 149,807 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
VEEV has been the subject of a number of analyst reports. Mizuho began 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. Royal Bank of Canada increased their price target on Veeva Systems from $275.00 to $285.00 and gave the stock an "outperform" rating in a research report on Friday, December 6th. Bank of America boosted their price objective on Veeva Systems from $280.00 to $290.00 and gave the company a "neutral" rating in a research report on Friday, December 6th. Citigroup increased their target price on Veeva Systems from $281.00 to $307.00 and gave the company a "buy" rating in a research report on Monday, December 9th. Finally, Barclays boosted their price target 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 equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $256.52.
Read Our Latest Stock Report on Veeva Systems
Veeva Systems Trading Down 1.1 %
Veeva Systems stock traded down $2.56 during trading on Monday, hitting $231.65. The company had a trading volume of 1,269,125 shares, compared to its average volume of 1,038,842. 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 1-year low of $170.25 and a 1-year high of $258.93. The stock has a market cap of $37.61 billion, a price-to-earnings ratio of 57.20, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88.
Veeva Systems Company Profile
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Free Report)
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.
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