Korea Investment CORP Has $39.27 Million Position in Veeva Systems Inc. (NYSE:VEEV)

Korea Investment CORP grew its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 9.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 186,768 shares of the technology company’s stock after acquiring an additional 15,579 shares during the period. Korea Investment CORP owned 0.12% of Veeva Systems worth $39,268,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. MassMutual Private Wealth & Trust FSB lifted its stake in Veeva Systems by 72.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock valued at $25,000 after acquiring an additional 50 shares during the last quarter. Centricity Wealth Management LLC bought a new position in shares of Veeva Systems during the 4th quarter valued at $25,000. Smithfield Trust Co raised its holdings in shares of Veeva Systems by 145.5% during the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock valued at $27,000 after purchasing an additional 80 shares in the last quarter. True Wealth Design LLC lifted its stake in shares of Veeva Systems by 3,375.0% in the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock valued at $29,000 after purchasing an additional 135 shares during the last quarter. Finally, Retirement Wealth Solutions LLC bought a new stake in Veeva Systems in the fourth quarter worth $31,000. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Price Performance

Shares of VEEV stock opened at $237.52 on Friday. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93. The stock has a fifty day moving average price of $231.27 and a 200 day moving average price of $222.79. The stock has a market cap of $38.56 billion, a P/E ratio of 58.65, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88.

Wall Street Analyst Weigh In

VEEV has been the topic of several recent research reports. Stephens restated an “overweight” rating and set a $280.00 target price on shares of Veeva Systems in a report on Thursday, March 6th. Bank of America raised their price objective on Veeva Systems from $280.00 to $290.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Barclays upped their target price on Veeva Systems from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. StockNews.com raised shares of Veeva Systems from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Finally, Royal Bank of Canada upped their price objective on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an “outperform” rating in a report 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, Veeva Systems has an average rating of “Moderate Buy” and an average price target of $256.52.

Veeva Systems 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.