Atria Investments Inc Acquires 868 Shares of Veeva Systems Inc. (NYSE:VEEV)

Atria Investments Inc increased its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 5.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,867 shares of the technology company’s stock after buying an additional 868 shares during the period. Atria Investments Inc’s holdings in Veeva Systems were worth $3,336,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its holdings in shares of Veeva Systems by 64.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company’s stock worth $744,084,000 after buying an additional 1,392,256 shares during the period. State Street Corp boosted its holdings in shares of Veeva Systems by 1.5% during the 3rd quarter. State Street Corp now owns 3,293,141 shares of the technology company’s stock worth $691,132,000 after buying an additional 47,872 shares during the period. FMR LLC boosted its holdings in shares of Veeva Systems by 25.7% during the 3rd quarter. FMR LLC now owns 2,981,244 shares of the technology company’s stock worth $625,674,000 after buying an additional 610,021 shares during the period. Principal Financial Group Inc. raised its stake in Veeva Systems by 36.0% during the 4th quarter. Principal Financial Group Inc. now owns 2,964,025 shares of the technology company’s stock valued at $623,186,000 after purchasing an additional 784,741 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Veeva Systems by 5.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,765,236 shares of the technology company’s stock valued at $579,630,000 after purchasing an additional 149,807 shares during the last quarter. 88.20% of the stock is owned by institutional investors.

Veeva Systems Stock Up 4.6 %

Shares of Veeva Systems stock opened at $247.10 on Friday. Veeva Systems Inc. has a 12-month low of $170.25 and a 12-month high of $258.93. The company has a 50-day simple moving average of $224.92 and a 200 day simple moving average of $220.21. The stock has a market capitalization of $40.12 billion, a P/E ratio of 61.01, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88.

Analyst Upgrades and Downgrades

Several research firms recently commented on VEEV. Evercore ISI upped their target price on shares of Veeva Systems from $220.00 to $245.00 and gave the company an “in-line” rating in a research note on Friday, December 6th. Royal Bank of Canada upped their target price on shares of Veeva Systems from $275.00 to $285.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Stephens reiterated an “overweight” rating and set a $280.00 target price on shares of Veeva Systems in a research note on Thursday. Truist Financial upped their target price on shares of Veeva Systems from $210.00 to $217.00 and gave the company a “hold” rating in a research note on Thursday. Finally, Canaccord Genuity Group upped their target price on shares of Veeva Systems from $210.00 to $270.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, Veeva Systems presently has an average rating of “Moderate Buy” and a consensus price target 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.