OV Management LLC Raises Stake in Veeva Systems Inc. (NYSE:VEEV)

OV Management LLC lifted its position in Veeva Systems Inc. (NYSE:VEEV) by 6.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,326 shares of the technology company’s stock after purchasing an additional 412 shares during the period. OV Management LLC’s holdings in Veeva Systems were worth $1,540,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. lifted its holdings in 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 worth $457,366,000 after purchasing an additional 1,267,061 shares in the last quarter. D.A. Davidson & CO. raised its position in shares of Veeva Systems by 2.5% during the third quarter. D.A. Davidson & CO. now owns 5,630 shares of the technology company’s stock valued at $1,182,000 after buying an additional 136 shares during the last quarter. Townsquare Capital LLC lifted its holdings in shares of Veeva Systems by 35.7% in the third quarter. Townsquare Capital LLC now owns 4,762 shares of the technology company’s stock worth $999,000 after buying an additional 1,253 shares in the last quarter. Rockefeller Capital Management L.P. boosted its position in shares of Veeva Systems by 1.1% during the third quarter. Rockefeller Capital Management L.P. now owns 39,883 shares of the technology company’s stock worth $8,370,000 after acquiring an additional 430 shares during the last quarter. Finally, Captrust Financial Advisors grew its stake in Veeva Systems by 10.5% during the third quarter. Captrust Financial Advisors now owns 7,865 shares of the technology company’s stock valued at $1,651,000 after acquiring an additional 745 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

VEEV has been the topic of several research analyst reports. Evercore ISI boosted their price target on shares of Veeva Systems from $220.00 to $245.00 and gave the stock an “in-line” rating in a research note on Friday, December 6th. The Goldman Sachs Group lowered Veeva Systems from a “buy” rating to a “sell” rating and dropped their price target for the company from $261.00 to $200.00 in a research note on Thursday, January 23rd. Wells Fargo & Company lifted their price objective on Veeva Systems from $275.00 to $285.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Needham & Company LLC reiterated a “buy” rating and set a $270.00 target price on shares of Veeva Systems in a research report on Thursday, March 6th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Veeva Systems from $218.00 to $249.00 and gave the stock a “neutral” rating in a research report on Thursday, March 20th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Veeva Systems has a consensus rating of “Moderate Buy” and a consensus price target of $256.52.

Veeva Systems Trading Down 1.1 %

NYSE VEEV opened at $231.65 on Tuesday. The stock has a market cap of $37.69 billion, a PE ratio of 57.20, a PEG ratio of 1.89 and a beta of 0.88. Veeva Systems Inc. has a 12 month low of $170.25 and a 12 month high of $258.93. The company’s 50-day moving average price is $231.92 and its 200-day moving average price is $222.95.

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.