LPL Financial LLC Acquires 15,727 Shares of Veeva Systems Inc. (NYSE:VEEV)

LPL Financial LLC grew its holdings in Veeva Systems Inc. (NYSE:VEEV) by 13.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 131,341 shares of the technology company’s stock after acquiring an additional 15,727 shares during the period. LPL Financial LLC’s holdings in Veeva Systems were worth $27,614,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in VEEV. Toronto Dominion Bank raised its stake in Veeva Systems by 39.1% in the third quarter. Toronto Dominion Bank now owns 20,180 shares of the technology company’s stock worth $4,235,000 after buying an additional 5,673 shares in the last quarter. Principal Financial Group Inc. raised its position 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 worth $457,366,000 after acquiring an additional 1,267,061 shares in the last quarter. Smith Group Asset Management LLC lifted its stake in shares of Veeva Systems by 2.2% in the 4th quarter. Smith Group Asset Management LLC now owns 82,567 shares of the technology company’s stock valued at $17,360,000 after purchasing an additional 1,749 shares during the period. Everence Capital Management Inc. bought a new stake in shares of Veeva Systems during the fourth quarter valued at approximately $816,000. Finally, Venturi Wealth Management LLC grew its stake in Veeva Systems by 2,716.7% in the fourth quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company’s stock worth $36,000 after purchasing an additional 163 shares during the period. 88.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Scotiabank boosted their target price on shares of Veeva Systems from $240.00 to $245.00 and gave the company a “sector perform” rating in a report on Thursday, March 6th. JPMorgan Chase & Co. raised their target price on shares of Veeva Systems from $218.00 to $249.00 and gave the company a “neutral” rating in a research note on Thursday, March 20th. Truist Financial boosted their price target on Veeva Systems from $210.00 to $217.00 and gave the stock a “hold” rating in a research report on Thursday, March 6th. Morgan Stanley raised their price objective on Veeva Systems from $195.00 to $201.00 and gave the company an “underweight” rating in a research report on Thursday, March 6th. Finally, Evercore ISI boosted their target price on Veeva Systems from $220.00 to $245.00 and gave the stock an “in-line” rating in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $256.52.

Veeva Systems Stock Down 1.4 %

NYSE VEEV opened at $234.10 on Friday. The company has a 50-day moving average price of $231.62 and a 200-day moving average price of $222.87. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93. The firm has a market capitalization of $38.01 billion, a P/E ratio of 57.80, a PEG ratio of 1.89 and a beta of 0.88.

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.