Veeva Systems Inc. (NYSE:VEEV) Shares Purchased by Natixis Advisors LLC

Natixis Advisors LLC grew its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 2.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,803 shares of the technology company’s stock after acquiring an additional 3,077 shares during the period. Natixis Advisors LLC owned about 0.07% of Veeva Systems worth $22,876,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of VEEV. Toronto Dominion Bank increased its holdings in Veeva Systems by 39.1% in the third quarter. Toronto Dominion Bank now owns 20,180 shares of the technology company’s stock valued at $4,235,000 after buying an additional 5,673 shares during the last quarter. Principal Financial Group Inc. increased its holdings 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 acquiring an additional 1,267,061 shares during the last quarter. Smith Group Asset Management LLC raised its position in shares of Veeva Systems by 2.2% during the 4th quarter. Smith Group Asset Management LLC now owns 82,567 shares of the technology company’s stock valued at $17,360,000 after acquiring an additional 1,749 shares in the last quarter. Everence Capital Management Inc. bought a new position in Veeva Systems during the fourth quarter worth $816,000. Finally, Venturi Wealth Management LLC boosted its holdings in Veeva Systems by 2,716.7% in the fourth quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company’s stock worth $36,000 after purchasing an additional 163 shares during the period. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Up 1.2 %

Shares of Veeva Systems stock opened at $236.93 on Tuesday. The business has a fifty day simple moving average of $227.61 and a 200-day simple moving average of $221.69. The firm has a market cap of $38.47 billion, a price-to-earnings ratio of 58.50, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. KeyCorp dropped their target price on shares of Veeva Systems from $285.00 to $255.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Needham & Company LLC reissued a “buy” rating and issued a $270.00 target price on shares of Veeva Systems in a report on Thursday, March 6th. The Goldman Sachs Group lowered Veeva Systems from a “buy” rating to a “sell” rating and lowered their target price for the company from $261.00 to $200.00 in a report on Thursday, January 23rd. Royal Bank of Canada raised their price target on Veeva Systems from $275.00 to $285.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Finally, Robert W. Baird boosted their price objective on Veeva Systems from $283.00 to $285.00 and gave the company an “outperform” rating in a research report on Thursday, March 6th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, Veeva Systems currently has a consensus rating of “Moderate Buy” and an average target price of $255.28.

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.