Corient Private Wealth LLC Acquires 174,936 Shares of Veeva Systems Inc. (NYSE:VEEV)

Corient Private Wealth LLC boosted its holdings in Veeva Systems Inc. (NYSE:VEEV) by 1,281.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 188,591 shares of the technology company’s stock after buying an additional 174,936 shares during the quarter. Corient Private Wealth LLC owned approximately 0.12% of Veeva Systems worth $39,651,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of VEEV. Toronto Dominion Bank boosted its stake in shares of Veeva Systems by 39.1% in the 3rd quarter. Toronto Dominion Bank now owns 20,180 shares of the technology company’s stock valued at $4,235,000 after purchasing an additional 5,673 shares in the last quarter. Principal Financial Group Inc. lifted its stake in 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 purchasing an additional 1,267,061 shares during the last quarter. Smith Group Asset Management LLC lifted its stake in Veeva Systems by 2.2% in 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 purchasing an additional 1,749 shares during the last quarter. Everence Capital Management Inc. acquired a new stake in Veeva Systems in the fourth quarter valued at approximately $816,000. Finally, Venturi Wealth Management LLC grew its stake in shares of Veeva Systems by 2,716.7% during the fourth quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company’s stock worth $36,000 after buying an additional 163 shares during the last quarter. Institutional investors own 88.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Morgan Stanley increased their price target on Veeva Systems from $195.00 to $201.00 and gave the company an “underweight” rating in a research note on Thursday, March 6th. Royal Bank of Canada increased their target price on Veeva Systems from $275.00 to $285.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Stifel Nicolaus boosted their price target on Veeva Systems from $240.00 to $272.00 and gave the stock a “buy” rating in a report on Friday, December 6th. StockNews.com upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Finally, Scotiabank lifted their target price on shares of Veeva Systems from $240.00 to $245.00 and gave the stock a “sector perform” rating in a research report on Thursday, March 6th. Two 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. According to data from MarketBeat, Veeva Systems has a consensus rating of “Moderate Buy” and an average target price of $255.28.

Veeva Systems Stock Performance

Veeva Systems stock opened at $236.93 on Tuesday. The stock has a market capitalization of $38.47 billion, a price-to-earnings ratio of 58.50, a PEG ratio of 1.89 and a beta of 0.88. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93. The stock’s 50 day moving average price is $227.61 and its two-hundred day moving average price is $221.69.

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.