Victory Capital Management Inc. Has $14.47 Million Stake in Veeva Systems Inc. (NYSE:VEEV)

Victory Capital Management Inc. trimmed its holdings in Veeva Systems Inc. (NYSE:VEEV) by 1.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 68,820 shares of the technology company’s stock after selling 1,070 shares during the period. Victory Capital Management Inc.’s holdings in Veeva Systems were worth $14,469,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in VEEV. Principal Financial Group Inc. lifted its position 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 last quarter. Atria Investments Inc lifted its position in shares of Veeva Systems by 13.7% in the third quarter. Atria Investments Inc now owns 14,999 shares of the technology company’s stock valued at $3,148,000 after buying an additional 1,811 shares during the last quarter. Mesirow Financial Investment Management Inc. acquired a new stake in shares of Veeva Systems in the third quarter valued at approximately $377,000. GSA Capital Partners LLP acquired a new stake in shares of Veeva Systems in the third quarter valued at approximately $526,000. Finally, Simmons Bank acquired a new stake in shares of Veeva Systems in the third quarter valued at approximately $952,000. 88.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on VEEV. Bank of America lifted their price target on Veeva Systems from $280.00 to $290.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Evercore ISI lifted their price target on Veeva Systems from $220.00 to $245.00 and gave the stock an “in-line” rating in a report on Friday, December 6th. Needham & Company LLC reissued a “buy” rating and set a $270.00 price target on shares of Veeva Systems in a report on Thursday, March 6th. Mizuho began coverage on Veeva Systems in a report on Wednesday, December 4th. They set an “outperform” rating and a $275.00 price target for the company. Finally, Morgan Stanley lifted their price target on Veeva Systems from $195.00 to $201.00 and gave the stock an “underweight” rating in a report on Thursday, March 6th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, Veeva Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $255.28.

Veeva Systems Trading Up 0.7 %

Shares of VEEV opened at $233.34 on Thursday. The company has a market capitalization of $37.88 billion, a PE ratio of 57.62, a PEG ratio of 1.89 and a beta of 0.88. Veeva Systems Inc. has a 12 month low of $170.25 and a 12 month high of $258.93. The stock’s 50-day moving average price is $226.36 and its two-hundred day moving average price is $220.96.

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.