Harrington Investments INC Raises Stake in Veeva Systems Inc. (NYSE:VEEV)

Harrington Investments INC increased its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 1.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,710 shares of the technology company’s stock after acquiring an additional 79 shares during the quarter. Harrington Investments INC’s holdings in Veeva Systems were worth $1,411,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA raised its position in Veeva Systems by 64.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company’s stock valued at $744,084,000 after purchasing an additional 1,392,256 shares during the period. Principal Financial Group Inc. increased its position in shares of Veeva Systems by 138.9% during the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock worth $457,366,000 after purchasing an additional 1,267,061 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Veeva Systems by 73.2% in the third quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company’s stock valued at $536,972,000 after buying an additional 1,081,501 shares during the last quarter. Wealthfront Advisers LLC boosted its stake in Veeva Systems by 29,760.5% during the fourth quarter. Wealthfront Advisers LLC now owns 1,048,700 shares of the technology company’s stock worth $220,489,000 after buying an additional 1,045,188 shares during the period. Finally, FMR LLC increased its position in shares of Veeva Systems by 25.7% during the third quarter. FMR LLC now owns 2,981,244 shares of the technology company’s stock valued at $625,674,000 after acquiring an additional 610,021 shares during the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Price Performance

NYSE VEEV opened at $233.84 on Friday. The company has a fifty day moving average of $227.12 and a two-hundred day moving average of $221.25. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93. The company has a market capitalization of $37.96 billion, a PE ratio of 57.74, a P/E/G ratio of 1.89 and a beta of 0.88.

Analyst Ratings Changes

A number of research firms recently weighed in on VEEV. Stephens reaffirmed an “overweight” rating and set a $280.00 price objective on shares of Veeva Systems in a research report on Thursday, March 6th. StockNews.com raised Veeva Systems from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Truist Financial raised their target price on Veeva Systems from $210.00 to $217.00 and gave the company a “hold” rating in a report on Thursday, March 6th. Stifel Nicolaus boosted their price target on shares of Veeva Systems from $240.00 to $272.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, Robert W. Baird lifted their price objective on shares of Veeva Systems from $283.00 to $285.00 and gave the company an “outperform” rating in a report on Thursday, March 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 company. According to data from MarketBeat.com, Veeva Systems has a consensus 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.