Fifth Third Bancorp raised its holdings in Veeva Systems Inc. (NYSE:VEEV – Free Report) by 1.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,541 shares of the technology company’s stock after buying an additional 101 shares during the period. Fifth Third Bancorp’s holdings in Veeva Systems were worth $1,796,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of VEEV. General American Investors Co. Inc. purchased a new position in Veeva Systems in the third quarter valued at $5,133,000. Toronto Dominion Bank raised its position in Veeva Systems by 39.1% in the 3rd quarter. Toronto Dominion Bank now owns 20,180 shares of the technology company’s stock valued at $4,235,000 after purchasing an additional 5,673 shares in the last quarter. Procyon Advisors LLC purchased a new position in shares of Veeva Systems in the 3rd quarter valued at about $712,000. Principal Financial Group Inc. grew its position 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 worth $457,366,000 after buying an additional 1,267,061 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its stake in shares of Veeva Systems by 3.6% during the third quarter. Oppenheimer Asset Management Inc. now owns 78,000 shares of the technology company’s stock worth $16,370,000 after buying an additional 2,733 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.
Veeva Systems Trading Up 2.8 %
NYSE:VEEV opened at $232.18 on Wednesday. Veeva Systems Inc. has a 12-month low of $170.25 and a 12-month high of $258.93. The stock’s 50 day simple moving average is $221.87 and its 200-day simple moving average is $211.57. The firm has a market cap of $37.69 billion, a P/E ratio of 57.33, a PEG ratio of 2.01 and a beta of 0.84.
Insider Activity at Veeva Systems
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on VEEV. Needham & Company LLC reiterated a “buy” rating and issued a $270.00 price target on shares of Veeva Systems in a research note on Friday, January 17th. Wells Fargo & Company lifted their price objective on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Stifel Nicolaus increased their target price on Veeva Systems from $240.00 to $272.00 and gave the company a “buy” rating in a report on Friday, December 6th. Stephens started coverage on Veeva Systems in a report on Friday, December 20th. They set an “overweight” rating and a $280.00 price target for the company. Finally, Truist Financial dropped their price objective on Veeva Systems from $261.00 to $210.00 and set a “hold” rating on the stock in a report on Monday, January 13th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $253.96.
Get Our Latest Stock Report on VEEV
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.
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