KLP Kapitalforvaltning AS Takes Position in Veeva Systems Inc. (NYSE:VEEV)

KLP Kapitalforvaltning AS acquired a new position in shares of Veeva Systems Inc. (NYSE:VEEV) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 53,800 shares of the technology company’s stock, valued at approximately $11,311,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of VEEV. Principal Financial Group Inc. boosted its holdings in Veeva Systems by 138.9% during the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock valued at $457,366,000 after acquiring an additional 1,267,061 shares during the period. JPMorgan Chase & Co. increased its position in Veeva Systems by 73.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company’s stock worth $536,972,000 after buying an additional 1,081,501 shares during the period. Wealthfront Advisers LLC lifted its holdings in shares of 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 last quarter. FMR LLC boosted its position in shares of Veeva Systems by 25.7% in 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 period. Finally, Raymond James Financial Inc. bought a new position in Veeva Systems during the fourth quarter worth $95,710,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

VEEV has been the subject of a number of research reports. Scotiabank increased their price target 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. KeyCorp decreased their target price on Veeva Systems from $285.00 to $255.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Stifel Nicolaus lifted their price objective on Veeva Systems from $240.00 to $272.00 and gave the stock a “buy” rating in a report on Friday, December 6th. JPMorgan Chase & Co. boosted their price objective on Veeva Systems from $218.00 to $249.00 and gave the company a “neutral” rating in a research report on Thursday, March 20th. Finally, Truist Financial raised their target price on Veeva Systems from $210.00 to $217.00 and gave the stock a “hold” rating in a research report on Thursday, March 6th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $256.52.

Veeva Systems Stock Up 1.0 %

VEEV stock opened at $239.06 on Tuesday. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93. The company has a market cap of $38.81 billion, a P/E ratio of 59.03, a PEG ratio of 1.89 and a beta of 0.88. The business has a fifty day moving average of $229.76 and a 200-day moving average of $222.42.

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.