VSM Wealth Advisory LLC Makes New Investment in Veeva Systems Inc. (NYSE:VEEV)

VSM Wealth Advisory LLC bought a new stake in shares of Veeva Systems Inc. (NYSE:VEEV) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 200 shares of the technology company’s stock, valued at approximately $42,000.

A number of other large investors also recently made changes to their positions in VEEV. Xponance Inc. grew its position in Veeva Systems by 8.3% during the fourth quarter. Xponance Inc. now owns 28,754 shares of the technology company’s stock valued at $6,046,000 after purchasing an additional 2,209 shares in the last quarter. Generali Asset Management SPA SGR acquired a new stake in shares of Veeva Systems during the 4th quarter valued at $3,392,000. Leelyn Smith LLC grew its holdings in shares of Veeva Systems by 9.9% during the 4th quarter. Leelyn Smith LLC now owns 8,253 shares of the technology company’s stock valued at $1,735,000 after acquiring an additional 741 shares in the last quarter. William Blair Investment Management LLC increased its stake in shares of Veeva Systems by 17.9% in the fourth quarter. William Blair Investment Management LLC now owns 796,304 shares of the technology company’s stock worth $167,423,000 after acquiring an additional 120,661 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC purchased a new stake in shares of Veeva Systems during the fourth quarter worth $331,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on VEEV. Royal Bank of Canada upped their target price on Veeva Systems from $275.00 to $285.00 and gave the stock an “outperform” 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. Mizuho initiated coverage on shares of Veeva Systems in a research report on Wednesday, December 4th. They set an “outperform” rating and a $275.00 price objective on the stock. Canaccord Genuity Group boosted their target price on shares of Veeva Systems from $210.00 to $270.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Finally, Truist Financial raised 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. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $255.28.

Veeva Systems Price Performance

NYSE VEEV opened at $237.09 on Thursday. The company’s fifty day moving average is $228.49 and its two-hundred day moving average is $221.93. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93. The firm has a market capitalization of $38.49 billion, a price-to-earnings ratio of 58.54, a P/E/G ratio of 1.89 and a beta of 0.88.

About Veeva Systems

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.