DnB Asset Management AS Acquires 1,915 Shares of Veeva Systems Inc. (NYSE:VEEV)

DnB Asset Management AS lifted its holdings in Veeva Systems Inc. (NYSE:VEEV) by 7.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,652 shares of the technology company’s stock after acquiring an additional 1,915 shares during the period. DnB Asset Management AS’s holdings in Veeva Systems were worth $5,814,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in VEEV. Toronto Dominion Bank lifted 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. raised its position in shares of Veeva Systems by 138.9% during 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. Smith Group Asset Management LLC lifted its holdings in shares of Veeva Systems by 2.2% in the fourth quarter. Smith Group Asset Management LLC now owns 82,567 shares of the technology company’s stock worth $17,360,000 after buying an additional 1,749 shares in the last quarter. Everence Capital Management Inc. bought a new position in shares of Veeva Systems during the fourth quarter worth $816,000. Finally, Venturi Wealth Management LLC grew its stake in Veeva Systems by 2,716.7% during the fourth quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company’s stock valued at $36,000 after acquiring an additional 163 shares in the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Price Performance

Shares of NYSE:VEEV opened at $234.10 on Monday. The firm has a market capitalization of $38.01 billion, a PE ratio of 57.80, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88. The business has a 50 day simple moving average of $231.62 and a two-hundred day simple moving average of $222.87. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93.

Analysts Set New Price Targets

VEEV has been the topic of several research analyst reports. StockNews.com upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Mizuho assumed coverage on Veeva Systems in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $275.00 target price on the stock. Scotiabank raised their price target on Veeva Systems from $240.00 to $245.00 and gave the company a “sector perform” rating in a report on Thursday, March 6th. Canaccord Genuity Group upped their price objective on Veeva Systems from $210.00 to $270.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Finally, Stifel Nicolaus raised their target price on shares of Veeva Systems from $240.00 to $272.00 and gave the company a “buy” rating in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $256.52.

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.