Virtu Financial LLC Acquires Shares of 15,808 Veeva Systems Inc. (NYSE:VEEV)

Virtu Financial LLC bought a new stake in Veeva Systems Inc. (NYSE:VEEV) in the 4th quarter, HoldingsChannel.com reports. The firm bought 15,808 shares of the technology company’s stock, valued at approximately $3,323,000.

Several other large investors have also modified their holdings of VEEV. Principal Financial Group Inc. boosted its holdings in shares of Veeva Systems by 138.9% in the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock valued at $457,366,000 after buying an additional 1,267,061 shares in the last quarter. OneDigital Investment Advisors LLC boosted its holdings in shares of Veeva Systems by 7.3% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 1,909 shares of the technology company’s stock valued at $401,000 after buying an additional 130 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of Veeva Systems by 2.2% in the 3rd quarter. Empowered Funds LLC now owns 4,170 shares of the technology company’s stock valued at $875,000 after buying an additional 91 shares in the last quarter. Mutual of America Capital Management LLC boosted its holdings in shares of Veeva Systems by 51.3% in the 3rd quarter. Mutual of America Capital Management LLC now owns 3,432 shares of the technology company’s stock valued at $720,000 after buying an additional 1,163 shares in the last quarter. Finally, Pathstone Holdings LLC boosted its holdings in shares of Veeva Systems by 15.4% in the 3rd quarter. Pathstone Holdings LLC now owns 11,281 shares of the technology company’s stock valued at $2,368,000 after buying an additional 1,508 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Stock Up 0.5 %

Shares of VEEV opened at $236.98 on Friday. The company has a 50-day simple moving average of $229.24 and a 200-day simple moving average of $222.17. The company has a market capitalization of $38.47 billion, a PE ratio of 58.51, a P/E/G ratio of 1.89 and a beta of 0.88. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93.

Wall Street Analyst Weigh In

VEEV has been the subject of a number of recent research reports. The Goldman Sachs Group cut shares of Veeva Systems from a “buy” rating to a “sell” rating and decreased their price target for the stock from $261.00 to $200.00 in a research note on Thursday, January 23rd. Robert W. Baird increased their price target on shares of Veeva Systems from $283.00 to $285.00 and gave the stock an “outperform” rating in a research note on Thursday, March 6th. KeyCorp decreased their price target on shares of Veeva Systems from $285.00 to $255.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Stephens reiterated an “overweight” rating and set a $280.00 price target on shares of Veeva Systems in a research note on Thursday, March 6th. Finally, StockNews.com upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Two 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $256.52.

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.