10,537 Shares in Veeva Systems Inc. (NYSE:VEEV) Bought by Generali Investments Management Co LLC

Generali Investments Management Co LLC acquired a new position in shares of Veeva Systems Inc. (NYSE:VEEV) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,537 shares of the technology company’s stock, valued at approximately $2,215,000.

Other institutional investors and hedge funds have also modified their holdings of the company. MassMutual Private Wealth & Trust FSB raised its position in Veeva Systems by 72.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock valued at $25,000 after purchasing an additional 50 shares during the last quarter. Centricity Wealth Management LLC bought a new position in Veeva Systems in the fourth quarter valued at about $25,000. Smithfield Trust Co raised its position in 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 purchasing an additional 80 shares during the last quarter. True Wealth Design LLC raised its position in Veeva Systems by 3,375.0% in the third quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock valued at $29,000 after purchasing an additional 135 shares during the last quarter. Finally, Avion Wealth raised its position in Veeva Systems by 635.0% in the fourth quarter. Avion Wealth now owns 147 shares of the technology company’s stock valued at $30,000 after purchasing an additional 127 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors.

Veeva Systems Price Performance

NYSE VEEV opened at $236.05 on Wednesday. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93. The business has a 50 day simple moving average of $228.10 and a 200 day simple moving average of $221.83. The stock has a market capitalization of $38.32 billion, a P/E ratio of 58.28, a P/E/G ratio of 1.89 and a beta of 0.88.

Analyst Ratings Changes

VEEV has been the subject of several research reports. The Goldman Sachs Group downgraded Veeva Systems from a “buy” rating to a “sell” rating and dropped their target price for the company from $261.00 to $200.00 in a research report on Thursday, January 23rd. Evercore ISI increased their target price on Veeva Systems from $220.00 to $245.00 and gave the company an “in-line” rating in a research report on Friday, December 6th. Wells Fargo & Company increased their price target on Veeva Systems from $275.00 to $285.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Stephens reissued an “overweight” rating and issued a $280.00 price target on shares of Veeva Systems in a research note on Thursday, March 6th. Finally, Truist Financial increased their price target on Veeva Systems from $210.00 to $217.00 and gave the company a “hold” rating in a research note on Thursday, March 6th. Two 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 company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $255.28.

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.