William Blair Investment Management LLC Acquires 120,661 Shares of Veeva Systems Inc. (NYSE:VEEV)

William Blair Investment Management LLC grew its stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 17.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 796,304 shares of the technology company's stock after purchasing an additional 120,661 shares during the period. William Blair Investment Management LLC owned about 0.49% of Veeva Systems worth $167,423,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB lifted its stake in Veeva Systems by 72.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company's stock valued at $25,000 after acquiring an additional 50 shares in the last quarter. Centricity Wealth Management LLC bought a new position in shares of Veeva Systems in the fourth quarter valued at approximately $25,000. Smithfield Trust Co increased its position 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 valued at $27,000 after purchasing an additional 80 shares during the last quarter. True Wealth Design LLC raised its position in Veeva Systems by 3,375.0% in the third quarter. True Wealth Design LLC now owns 139 shares of the technology company's stock worth $29,000 after acquiring an additional 135 shares during the period. Finally, Retirement Wealth Solutions LLC bought a new position in Veeva Systems during the fourth quarter valued at $31,000. Institutional investors own 88.20% of the company's stock.

Veeva Systems Price Performance

Shares of NYSE VEEV traded up $1.13 during mid-day trading on Friday, hitting $236.98. 1,192,386 shares of the company's stock traded hands, compared to its average volume of 1,008,032. The company has a market capitalization of $38.47 billion, a P/E ratio of 58.51, a PEG ratio of 1.89 and a beta of 0.88. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93. The company's 50-day moving average is $228.86 and its two-hundred day moving average is $222.03.

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Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Piper Sandler increased their price target on shares of Veeva Systems from $280.00 to $290.00 and gave the stock an "overweight" rating in a report on Friday, December 6th. JPMorgan Chase & Co. upped their price objective on shares of Veeva Systems from $218.00 to $249.00 and gave the company a "neutral" rating in a research note on Thursday. Canaccord Genuity Group increased their price objective on Veeva Systems from $210.00 to $270.00 and gave the company a "hold" rating in a research note on Friday, December 6th. The Goldman Sachs Group cut Veeva Systems from a "buy" rating to a "sell" rating and cut their target price for the stock from $261.00 to $200.00 in a research note on Thursday, January 23rd. Finally, Stifel Nicolaus upped their price target on Veeva Systems from $240.00 to $272.00 and gave the company a "buy" rating in a research report on Friday, December 6th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $256.52.

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.