Quantbot Technologies LP Increases Position in Veeva Systems Inc. (NYSE:VEEV)

Quantbot Technologies LP grew its position in Veeva Systems Inc. (NYSE:VEEV) by 269.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,805 shares of the technology company’s stock after buying an additional 7,884 shares during the period. Quantbot Technologies LP’s holdings in Veeva Systems were worth $2,272,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Toronto Dominion Bank grew its stake in shares of Veeva Systems by 39.1% in the 3rd quarter. Toronto Dominion Bank now owns 20,180 shares of the technology company’s stock valued at $4,235,000 after buying an additional 5,673 shares during the period. Principal Financial Group Inc. boosted its position in shares of 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 purchasing an additional 1,267,061 shares during the period. Smith Group Asset Management LLC boosted its position in shares of Veeva Systems by 2.2% during the 4th quarter. Smith Group Asset Management LLC now owns 82,567 shares of the technology company’s stock worth $17,360,000 after purchasing an additional 1,749 shares during the period. Everence Capital Management Inc. purchased a new position in shares of Veeva Systems during the 4th quarter worth approximately $816,000. Finally, Venturi Wealth Management LLC boosted its position in shares of Veeva Systems by 2,716.7% during the 4th quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company’s stock worth $36,000 after purchasing an additional 163 shares during the period. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Trading Up 0.5 %

Shares of VEEV opened at $236.98 on Monday. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93. The firm’s fifty day simple moving average is $229.24 and its 200-day simple moving average is $222.25. The firm has a market capitalization of $38.47 billion, a price-to-earnings ratio of 58.51, a PEG ratio of 1.89 and a beta of 0.88.

Wall Street Analyst Weigh In

VEEV has been the subject of a number of research analyst reports. Truist Financial increased their price objective on shares of Veeva Systems from $210.00 to $217.00 and gave the stock a “hold” rating in a research report on Thursday, March 6th. The Goldman Sachs Group cut shares of Veeva Systems from a “buy” rating to a “sell” rating and lowered their price objective for the stock from $261.00 to $200.00 in a research report on Thursday, January 23rd. StockNews.com raised shares of Veeva Systems from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Stephens reiterated an “overweight” rating and set a $280.00 target price on shares of Veeva Systems in a report on Thursday, March 6th. Finally, Barclays increased their target price on shares of Veeva Systems from $260.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, Veeva Systems currently has a consensus rating of “Moderate Buy” and an average 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.