Veeva Systems Inc. (NYSE:VEEV) Shares Purchased by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC boosted its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 438.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 44,153 shares of the technology company’s stock after acquiring an additional 35,958 shares during the period. Orion Portfolio Solutions LLC’s holdings in Veeva Systems were worth $9,283,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB raised its position in shares of Veeva Systems by 72.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock worth $25,000 after purchasing an additional 50 shares during the last quarter. Centricity Wealth Management LLC acquired a new position in shares of Veeva Systems during the fourth quarter valued at approximately $25,000. Smithfield Trust Co lifted its position in shares of Veeva Systems by 145.5% in the fourth quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock valued at $27,000 after acquiring an additional 80 shares in the last quarter. True Wealth Design LLC boosted its stake in shares of Veeva Systems by 3,375.0% in the third quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock worth $29,000 after acquiring an additional 135 shares during the last quarter. Finally, Retirement Wealth Solutions LLC purchased a new stake in shares of Veeva Systems during the fourth quarter worth approximately $31,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems Trading Down 1.4 %

Shares of NYSE VEEV opened at $234.10 on Friday. The stock has a market capitalization of $38.01 billion, a PE ratio of 57.80, a PEG ratio of 1.89 and a beta of 0.88. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93. The stock has a fifty day simple moving average of $231.62 and a 200-day simple moving average of $222.87.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on VEEV shares. Piper Sandler raised their price objective on Veeva Systems from $280.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Mizuho initiated coverage on shares of Veeva Systems in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $275.00 price target on the stock. Robert W. Baird upped their price objective on shares of Veeva Systems from $283.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday, March 6th. KeyCorp decreased their target price on shares of Veeva Systems from $285.00 to $255.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Finally, Wells Fargo & Company boosted their target price on Veeva Systems from $275.00 to $285.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $256.52.

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.