Amundi Purchases 40,884 Shares of Veeva Systems Inc. (NYSE:VEEV)

Amundi grew its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 9.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 459,044 shares of the technology company’s stock after acquiring an additional 40,884 shares during the period. Amundi owned about 0.28% of Veeva Systems worth $99,750,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Larson Financial Group LLC raised its stake in shares of Veeva Systems by 8.2% during the fourth quarter. Larson Financial Group LLC now owns 1,736 shares of the technology company’s stock valued at $365,000 after acquiring an additional 132 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of Veeva Systems by 1.6% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 79,771 shares of the technology company’s stock valued at $17,919,000 after acquiring an additional 1,294 shares during the last quarter. EFG Asset Management Americas Corp. raised its stake in shares of Veeva Systems by 4.2% during the fourth quarter. EFG Asset Management Americas Corp. now owns 17,236 shares of the technology company’s stock valued at $3,624,000 after acquiring an additional 687 shares during the last quarter. BBR Partners LLC bought a new position in shares of Veeva Systems during the fourth quarter valued at about $282,000. Finally, Callan Family Office LLC bought a new position in Veeva Systems in the fourth quarter worth about $204,000. 88.20% of the stock is owned by institutional investors.

Veeva Systems Stock Down 3.0 %

Shares of VEEV opened at $239.38 on Tuesday. The company has a market capitalization of $38.86 billion, a P/E ratio of 59.11, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88. The firm has a 50 day moving average of $225.47 and a 200 day moving average of $220.64. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93.

Analyst Ratings Changes

A number of equities analysts recently issued reports on VEEV shares. Mizuho started coverage on shares of Veeva Systems in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $275.00 price target for the company. 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. Wells Fargo & Company increased their price target on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Evercore ISI increased 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. Finally, The Goldman Sachs Group downgraded 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. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $255.28.

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.