Vinva Investment Management Ltd Has $6.35 Million Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Vinva Investment Management Ltd grew its holdings in Veeva Systems Inc. (NYSE:VEEV) by 343.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 30,032 shares of the technology company’s stock after buying an additional 23,265 shares during the quarter. Vinva Investment Management Ltd’s holdings in Veeva Systems were worth $6,351,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in VEEV. Principal Financial Group Inc. raised 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 valued at $457,366,000 after buying an additional 1,267,061 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of Veeva Systems in the 3rd quarter valued at $526,000. OneDigital Investment Advisors LLC raised its stake in shares of Veeva Systems by 7.3% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 1,909 shares of the technology company’s stock valued at $401,000 after buying an additional 130 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of Veeva Systems by 5.5% in the 3rd quarter. CIBC Asset Management Inc now owns 5,641 shares of the technology company’s stock valued at $1,184,000 after buying an additional 294 shares in the last quarter. Finally, Empowered Funds LLC raised its stake in shares of Veeva Systems by 2.2% in the 3rd quarter. Empowered Funds LLC now owns 4,170 shares of the technology company’s stock valued at $875,000 after buying an additional 91 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Royal Bank of Canada increased their price objective 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. Canaccord Genuity Group increased their target price on shares of Veeva Systems from $210.00 to $270.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Truist Financial increased their target price on shares of Veeva Systems from $210.00 to $217.00 and gave the stock a “hold” rating in a research report on Thursday, March 6th. JPMorgan Chase & Co. increased their target price on shares of Veeva Systems from $208.00 to $218.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. Finally, Morgan Stanley increased their target price on shares of Veeva Systems from $195.00 to $201.00 and gave the stock an “underweight” rating in a research 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Veeva Systems currently has a consensus rating of “Moderate Buy” and an average price target of $255.28.

Veeva Systems Trading Down 0.4 %

Shares of NYSE VEEV opened at $236.05 on Wednesday. The firm has a market capitalization of $38.32 billion, a PE ratio of 58.28, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93. The firm’s 50-day moving average is $228.10 and its 200-day moving average is $221.83.

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.