Daiwa Securities Group Inc. Purchases 3,400 Shares of Veeva Systems Inc. (NYSE:VEEV)

Daiwa Securities Group Inc. boosted its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 18.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,406 shares of the technology company’s stock after purchasing an additional 3,400 shares during the period. Daiwa Securities Group Inc.’s holdings in Veeva Systems were worth $4,500,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in VEEV. Massachusetts Financial Services Co. MA increased its holdings in shares of Veeva Systems by 64.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company’s stock worth $744,084,000 after buying an additional 1,392,256 shares in the last quarter. Principal Financial Group Inc. grew its position in Veeva Systems by 138.9% during the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock worth $457,366,000 after acquiring an additional 1,267,061 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Veeva Systems by 73.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company’s stock valued at $536,972,000 after purchasing an additional 1,081,501 shares in the last quarter. FMR LLC raised its position in Veeva Systems by 25.7% in the 3rd quarter. FMR LLC now owns 2,981,244 shares of the technology company’s stock valued at $625,674,000 after purchasing an additional 610,021 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Veeva Systems in the fourth quarter worth $95,710,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Trading Up 0.7 %

Shares of Veeva Systems stock opened at $233.34 on Thursday. The stock’s fifty day simple moving average is $226.36 and its 200 day simple moving average is $220.96. 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.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on VEEV shares. The Goldman Sachs Group cut Veeva Systems from a “buy” rating to a “sell” rating and cut their price target for the company from $261.00 to $200.00 in a report on Thursday, January 23rd. JPMorgan Chase & Co. boosted their target price on shares of Veeva Systems from $208.00 to $218.00 and gave the stock a “neutral” rating in a research note on Monday, December 16th. Piper Sandler increased their price target on shares of Veeva Systems from $280.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. KeyCorp dropped their price objective on shares of Veeva Systems from $285.00 to $255.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Finally, Citigroup increased their price objective on Veeva Systems from $281.00 to $307.00 and gave the company a “buy” rating in a research report on Monday, December 9th. 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.