Veeva Systems Inc. (NYSE:VEEV) Position Raised by Xponance Inc.

Xponance Inc. raised its holdings in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 8.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,754 shares of the technology company's stock after buying an additional 2,209 shares during the quarter. Xponance Inc.'s holdings in Veeva Systems were worth $6,046,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Massachusetts Financial Services Co. MA raised its position in shares of Veeva Systems by 64.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company's stock worth $744,084,000 after buying an additional 1,392,256 shares during the period. State Street Corp increased its stake in Veeva Systems by 1.5% during the third 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 last quarter. FMR LLC raised its holdings in shares of Veeva Systems by 25.7% in 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. lifted its stake in shares of Veeva Systems by 36.0% in 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 grew its holdings in shares of Veeva Systems by 5.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,765,236 shares of the technology company's stock worth $579,630,000 after purchasing an additional 149,807 shares during the period. Institutional investors and hedge funds own 88.20% of the company's stock.

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Analyst Upgrades and Downgrades

Several research analysts recently commented on VEEV shares. Citigroup raised their price target on shares of Veeva Systems from $281.00 to $307.00 and gave the company a "buy" rating in a report on Monday, December 9th. JPMorgan Chase & Co. lifted their target price on shares of Veeva Systems from $218.00 to $249.00 and gave the company a "neutral" rating in a report on Thursday. Piper Sandler increased their price target on Veeva Systems from $280.00 to $290.00 and gave the company an "overweight" rating in a report on Friday, December 6th. Needham & Company LLC restated a "buy" rating and set a $270.00 price objective on shares of Veeva Systems in a research note on Thursday, March 6th. Finally, Barclays upped their target price on Veeva Systems from $260.00 to $275.00 and gave the stock an "overweight" rating in a research report on Friday, December 6th. Two investment 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's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $256.52.

Veeva Systems Stock Performance

Shares of NYSE VEEV traded up $2.29 during trading on Monday, reaching $239.06. The stock had a trading volume of 1,230,890 shares, compared to its average volume of 1,011,597. The stock has a market cap of $38.81 billion, a PE ratio of 59.03, a P/E/G ratio of 1.89 and a beta of 0.88. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93. The firm's 50 day moving average price is $229.24 and its two-hundred day moving average price is $222.25.

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.