Boussard & Gavaudan Investment Management LLP Makes New $908,000 Investment in Veeva Systems Inc. (NYSE:VEEV)

Boussard & Gavaudan Investment Management LLP acquired a new position in Veeva Systems Inc. (NYSE:VEEV) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 4,293 shares of the technology company’s stock, valued at approximately $908,000.

Other hedge funds have also recently made changes to their positions in the company. Principal Financial Group Inc. increased its position in Veeva Systems by 138.9% during 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 purchasing an additional 1,267,061 shares during the period. Raymond James Trust N.A. purchased a new position in shares of Veeva Systems during the third quarter valued at about $231,000. Algert Global LLC raised its stake in Veeva Systems by 64.0% in the third quarter. Algert Global LLC now owns 2,254 shares of the technology company’s stock worth $473,000 after buying an additional 880 shares in the last quarter. Centaurus Financial Inc. lifted its holdings in Veeva Systems by 28.1% in the third quarter. Centaurus Financial Inc. now owns 1,335 shares of the technology company’s stock worth $280,000 after buying an additional 293 shares during the period. Finally, Harvest Fund Management Co. Ltd bought a new stake in Veeva Systems during the 3rd quarter valued at approximately $49,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on VEEV. Wells Fargo & Company increased their target price on Veeva Systems from $275.00 to $285.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Barclays increased their price objective on Veeva Systems from $260.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Piper Sandler boosted their target price on shares of Veeva Systems from $280.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Needham & Company LLC reiterated a “buy” rating and issued a $270.00 price target on shares of Veeva Systems in a research note on Thursday, March 6th. Finally, Scotiabank upped their price objective on shares of Veeva Systems from $240.00 to $245.00 and gave the stock a “sector perform” rating in a report on Thursday, March 6th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, Veeva Systems has a consensus rating of “Moderate Buy” and an average price target of $256.52.

Veeva Systems Trading Up 0.8 %

Shares of VEEV stock opened at $237.52 on Friday. Veeva Systems Inc. has a 12-month low of $170.25 and a 12-month high of $258.93. The stock has a market capitalization of $38.56 billion, a P/E ratio of 58.65, a P/E/G ratio of 1.89 and a beta of 0.88. The firm’s 50 day moving average is $231.27 and its 200 day moving average is $222.79.

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.