Independent Advisor Alliance Has $459,000 Position in Veeva Systems Inc. (NYSE:VEEV)

Independent Advisor Alliance grew its stake in Veeva Systems Inc. (NYSE:VEEV) by 4.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 2,181 shares of the technology company’s stock after buying an additional 89 shares during the quarter. Independent Advisor Alliance’s holdings in Veeva Systems were worth $459,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Cardinal Capital Management boosted its holdings in shares of Veeva Systems by 0.3% in the fourth quarter. Cardinal Capital Management now owns 15,727 shares of the technology company’s stock valued at $3,307,000 after buying an additional 44 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Veeva Systems by 72.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock valued at $25,000 after buying an additional 50 shares during the period. Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of Veeva Systems by 0.7% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 6,975 shares of the technology company’s stock valued at $1,467,000 after buying an additional 51 shares during the period. CHICAGO TRUST Co NA boosted its holdings in shares of Veeva Systems by 2.9% in the fourth quarter. CHICAGO TRUST Co NA now owns 1,880 shares of the technology company’s stock valued at $395,000 after buying an additional 53 shares during the period. Finally, Old North State Wealth Management LLC boosted its holdings in shares of Veeva Systems by 0.4% in the fourth quarter. Old North State Wealth Management LLC now owns 15,351 shares of the technology company’s stock valued at $3,228,000 after buying an additional 55 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on VEEV shares. Piper Sandler upped their price target on shares of Veeva Systems from $280.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Stephens restated an “overweight” rating and set a $280.00 target price on shares of Veeva Systems in a report on Thursday, March 6th. Scotiabank increased their target price on shares of Veeva Systems from $240.00 to $245.00 and gave the stock a “sector perform” rating in a report on Thursday, March 6th. Wells Fargo & Company increased their target price on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Finally, Bank of America increased their target price on shares of Veeva Systems from $280.00 to $290.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $255.28.

Veeva Systems Price Performance

Shares of VEEV opened at $236.93 on Tuesday. The firm has a market capitalization of $38.47 billion, a PE ratio of 58.50, a PEG ratio of 1.89 and a beta of 0.88. The company’s 50-day moving average is $227.61 and its 200-day moving average is $221.69. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93.

Veeva Systems Company Profile

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.