Whittier Trust Co. Purchases 350 Shares of Veeva Systems Inc. (NYSE:VEEV)

Whittier Trust Co. boosted its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 407.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 436 shares of the technology company’s stock after acquiring an additional 350 shares during the period. Whittier Trust Co.’s holdings in Veeva Systems were worth $92,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VEEV. State Street Corp raised its position in shares of Veeva Systems by 1.5% during the 3rd quarter. State Street Corp now owns 3,293,141 shares of the technology company’s stock valued at $691,132,000 after buying an additional 47,872 shares in the last quarter. FMR LLC raised its position in 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 purchasing an additional 610,021 shares during the period. Principal Financial Group Inc. raised its position in Veeva Systems by 36.0% during the fourth quarter. Principal Financial Group Inc. now owns 2,964,025 shares of the technology company’s stock valued at $623,186,000 after purchasing an additional 784,741 shares during the period. Geode Capital Management LLC lifted its stake in shares of Veeva Systems by 5.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,765,236 shares of the technology company’s stock valued at $579,630,000 after purchasing an additional 149,807 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of 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 purchasing an additional 1,081,501 shares during the period. 88.20% of the stock is owned by institutional investors.

Veeva Systems Price Performance

VEEV opened at $239.06 on Tuesday. The firm has a market capitalization of $38.81 billion, a PE ratio of 59.03, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88. The business’s 50-day moving average is $229.76 and its two-hundred day moving average is $222.42. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93.

Wall Street Analyst Weigh In

Several analysts recently weighed in on VEEV shares. Piper Sandler increased their price target on Veeva Systems from $280.00 to $290.00 and gave the company an “overweight” rating in a report 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 company a “hold” rating in a research note on Friday, December 6th. Royal Bank of Canada upped their price target on shares of Veeva Systems from $275.00 to $285.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Morgan Stanley raised their price objective on shares of Veeva Systems from $195.00 to $201.00 and gave the stock an “underweight” rating in a research note on Thursday, March 6th. Finally, Scotiabank upped their target price on Veeva Systems from $240.00 to $245.00 and gave the company a “sector perform” rating in a research note 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $256.52.

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.