Vinva Investment Management Ltd Raises Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Vinva Investment Management Ltd increased its stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 343.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,032 shares of the technology company's stock after acquiring an additional 23,265 shares during the period. Vinva Investment Management Ltd's holdings in Veeva Systems were worth $6,351,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of VEEV. Bestgate Wealth Advisors LLC acquired a new stake in Veeva Systems in the 4th quarter valued at about $238,000. VSM Wealth Advisory LLC purchased a new stake in shares of Veeva Systems during the fourth quarter worth approximately $42,000. Xponance Inc. raised its holdings in Veeva Systems by 8.3% in the fourth quarter. Xponance Inc. now owns 28,754 shares of the technology company's stock valued at $6,046,000 after acquiring an additional 2,209 shares in the last quarter. Generali Asset Management SPA SGR purchased a new position in Veeva Systems in the fourth quarter worth approximately $3,392,000. Finally, Leelyn Smith LLC grew its holdings in Veeva Systems by 9.9% during the 4th quarter. Leelyn Smith LLC now owns 8,253 shares of the technology company's stock worth $1,735,000 after acquiring an additional 741 shares in the last quarter. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Veeva Systems Stock Performance

NYSE VEEV traded up $1.13 during trading hours on Friday, reaching $236.98. The company's stock had a trading volume of 1,192,386 shares, compared to its average volume of 1,010,716. The stock has a market cap of $38.47 billion, a PE ratio of 58.51, a PEG ratio of 1.89 and a beta of 0.88. The company's 50-day moving average is $229.24 and its two-hundred day moving average is $222.22. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93.

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Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on VEEV. Wells Fargo & Company raised their price objective on shares of Veeva Systems from $275.00 to $285.00 and gave the company an "overweight" rating in a report on Friday, December 6th. Bank of America raised their price target on Veeva Systems from $280.00 to $290.00 and gave the company a "neutral" rating in a research note on Friday, December 6th. Piper Sandler upped their price objective on Veeva Systems from $280.00 to $290.00 and gave the stock an "overweight" rating in a research report on Friday, December 6th. StockNews.com upgraded Veeva Systems from a "hold" rating to a "buy" rating in a report on Monday, February 17th. Finally, The Goldman Sachs Group cut Veeva Systems from a "buy" rating to a "sell" rating and decreased their target price for the stock from $261.00 to $200.00 in a research note on Thursday, January 23rd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock 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.