Gallagher Capital Advisors LLC Invests $1.26 Million in Veeva Systems Inc. (NYSE:VEEV)

Gallagher Capital Advisors LLC purchased a new stake in shares of Veeva Systems Inc. (NYSE:VEEV) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 5,986 shares of the technology company’s stock, valued at approximately $1,259,000. Veeva Systems accounts for approximately 0.9% of Gallagher Capital Advisors LLC’s portfolio, making the stock its 27th largest position.

Several other hedge funds have also bought and sold shares of the business. Toronto Dominion Bank increased its stake in shares of Veeva Systems by 39.1% during the third 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. Principal Financial Group Inc. grew its stake 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 buying an additional 1,267,061 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in Veeva Systems by 3.6% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 78,000 shares of the technology company’s stock valued at $16,370,000 after buying an additional 2,733 shares in the last quarter. Assetmark Inc. raised its stake in Veeva Systems by 46.4% during the third quarter. Assetmark Inc. now owns 48,205 shares of the technology company’s stock valued at $10,117,000 after buying an additional 15,289 shares during the last quarter. Finally, Smith Group Asset Management LLC raised its stake in Veeva Systems by 2.2% during the fourth quarter. Smith Group Asset Management LLC now owns 82,567 shares of the technology company’s stock valued at $17,360,000 after buying an additional 1,749 shares during the last quarter. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Trading Up 4.6 %

Shares of NYSE VEEV opened at $247.10 on Monday. Veeva Systems Inc. has a 12-month low of $170.25 and a 12-month high of $258.93. The firm has a market capitalization of $40.12 billion, a price-to-earnings ratio of 61.01, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88. The firm has a 50 day moving average of $224.92 and a 200 day moving average of $220.34.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. StockNews.com upgraded Veeva Systems from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Morgan Stanley raised their price objective on shares of Veeva Systems from $195.00 to $201.00 and gave the company an “underweight” rating in a research note on Thursday. Barclays lifted their target price on shares of Veeva Systems from $260.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Evercore ISI increased their price target on shares of Veeva Systems from $220.00 to $245.00 and gave the company an “in-line” rating in a report on Friday, December 6th. Finally, Citigroup boosted their price objective on shares of Veeva Systems from $281.00 to $307.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average 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.