Prudential Financial Inc. Has $25.68 Million Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Prudential Financial Inc. lifted its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 982.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 122,120 shares of the technology company’s stock after buying an additional 110,836 shares during the period. Prudential Financial Inc.’s holdings in Veeva Systems were worth $25,676,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Toronto Dominion Bank increased its holdings in Veeva Systems by 39.1% in the 3rd quarter. Toronto Dominion Bank now owns 20,180 shares of the technology company’s stock worth $4,235,000 after purchasing an additional 5,673 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Veeva Systems by 138.9% in the third 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 during the period. Smith Group Asset Management LLC raised its holdings 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 buying an additional 1,749 shares during the last quarter. Everence Capital Management Inc. acquired a new stake in Veeva Systems during the 4th quarter worth approximately $816,000. Finally, Venturi Wealth Management LLC grew its holdings in Veeva Systems by 2,716.7% during the 4th quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company’s stock worth $36,000 after acquiring an additional 163 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Royal Bank of Canada boosted their price objective on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Wells Fargo & Company upped their price target on Veeva Systems from $275.00 to $285.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Scotiabank raised their price objective on Veeva Systems from $240.00 to $245.00 and gave the stock a “sector perform” rating in a research report on Thursday, March 6th. Needham & Company LLC reiterated a “buy” rating and issued a $270.00 target price on shares of Veeva Systems in a report on Thursday, March 6th. Finally, The Goldman Sachs Group downgraded shares of Veeva Systems from a “buy” rating to a “sell” rating and lowered their target price for the stock from $261.00 to $200.00 in a research note on Thursday, January 23rd. 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, Veeva Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $256.52.

Veeva Systems Price Performance

Shares of NYSE VEEV opened at $235.52 on Thursday. The company has a 50-day moving average price of $230.82 and a 200-day moving average price of $222.68. The stock has a market capitalization of $38.24 billion, a P/E ratio of 58.15, a P/E/G 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.

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.