Veeva Systems Inc. (NYSE:VEEV) Shares Purchased by William Blair Investment Management LLC

William Blair Investment Management LLC boosted its holdings in Veeva Systems Inc. (NYSE:VEEV) by 17.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 796,304 shares of the technology company’s stock after purchasing an additional 120,661 shares during the quarter. William Blair Investment Management LLC owned approximately 0.49% of Veeva Systems worth $167,423,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in VEEV. Massachusetts Financial Services Co. MA boosted its holdings in shares of Veeva Systems by 64.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company’s stock valued at $744,084,000 after acquiring an additional 1,392,256 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Veeva Systems by 138.9% during the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock valued at $457,366,000 after acquiring an additional 1,267,061 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Veeva Systems by 73.2% during the third quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company’s stock valued at $536,972,000 after acquiring an additional 1,081,501 shares during the period. Wealthfront Advisers LLC boosted its holdings in shares of Veeva Systems by 29,760.5% during the fourth quarter. Wealthfront Advisers LLC now owns 1,048,700 shares of the technology company’s stock valued at $220,489,000 after acquiring an additional 1,045,188 shares during the period. Finally, FMR LLC boosted its holdings in shares of Veeva Systems by 25.7% during the third quarter. FMR LLC now owns 2,981,244 shares of the technology company’s stock valued at $625,674,000 after acquiring an additional 610,021 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Trading Up 2.6 %

NYSE VEEV opened at $233.84 on Monday. The stock’s 50-day moving average price is $227.12 and its two-hundred day moving average price is $221.55. The company has a market cap of $37.96 billion, a PE ratio of 57.74, 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.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on VEEV shares. Wells Fargo & Company boosted their price target 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. Truist Financial boosted their price target on shares of Veeva Systems from $210.00 to $217.00 and gave the company a “hold” rating in a report on Thursday, March 6th. Stephens reaffirmed an “overweight” rating and issued a $280.00 price objective on shares of Veeva Systems in a report on Thursday, March 6th. Morgan Stanley upped their price objective on shares of Veeva Systems from $195.00 to $201.00 and gave the stock an “underweight” rating in a report on Thursday, March 6th. Finally, Robert W. Baird upped their price objective on shares of Veeva Systems from $283.00 to $285.00 and gave the stock an “outperform” rating in a report on Thursday, March 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $255.28.

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.