Murphy & Mullick Capital Management Corp Invests $685,000 in Veeva Systems Inc. (NYSE:VEEV)

Murphy & Mullick Capital Management Corp purchased a new stake in Veeva Systems Inc. (NYSE:VEEV) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 3,260 shares of the technology company’s stock, valued at approximately $685,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. TD Asset Management Inc. lifted its holdings in Veeva Systems by 6.4% during the fourth quarter. TD Asset Management Inc. now owns 452,553 shares of the technology company’s stock worth $95,149,000 after acquiring an additional 27,396 shares in the last quarter. Prudential Financial Inc. raised its position in shares of Veeva Systems by 982.2% during the fourth quarter. Prudential Financial Inc. now owns 122,120 shares of the technology company’s stock worth $25,676,000 after purchasing an additional 110,836 shares during the period. Twin City Private Wealth LLC lifted its holdings in shares of Veeva Systems by 2.9% during the 4th quarter. Twin City Private Wealth LLC now owns 2,036 shares of the technology company’s stock valued at $428,000 after purchasing an additional 58 shares in the last quarter. Cannon Global Investment Management LLC acquired a new position in shares of Veeva Systems in the 4th quarter valued at approximately $778,000. Finally, Stevens Capital Management LP bought a new stake in Veeva Systems during the 4th quarter worth approximately $359,000. Institutional investors own 88.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. 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. Robert W. Baird lifted their price target on Veeva Systems from $283.00 to $285.00 and gave the stock an “outperform” rating in a report on Thursday, March 6th. Stifel Nicolaus increased their price objective on shares of Veeva Systems from $240.00 to $272.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Royal Bank of Canada lifted their target price on Veeva Systems from $275.00 to $285.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Finally, StockNews.com upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Two equities research 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 MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $256.52.

Veeva Systems Stock Up 0.6 %

NYSE VEEV opened at $240.41 on Wednesday. The company has a market cap of $39.03 billion, a price-to-earnings ratio of 59.36, a price-to-earnings-growth 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 business’s fifty day moving average is $230.35 and its 200 day moving average is $222.59.

About Veeva Systems

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.