Martin Currie Ltd. Purchases 1,029 Shares of Veeva Systems Inc. (NYSE:VEEV)

Martin Currie Ltd. raised its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 0.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 246,528 shares of the technology company’s stock after buying an additional 1,029 shares during the period. Veeva Systems makes up approximately 1.9% of Martin Currie Ltd.’s portfolio, making the stock its 20th largest position. Martin Currie Ltd.’s holdings in Veeva Systems were worth $51,833,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB increased its stake in Veeva Systems by 72.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock valued at $25,000 after buying an additional 50 shares during the last quarter. Centricity Wealth Management LLC acquired a new stake in shares of Veeva Systems in the fourth quarter valued at about $25,000. Smithfield Trust Co boosted its position in Veeva Systems by 145.5% during 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 grew its stake 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 in the last quarter. Finally, Avion Wealth increased its position in shares of Veeva Systems by 635.0% during the 4th quarter. Avion Wealth now owns 147 shares of the technology company’s stock worth $30,000 after purchasing an additional 127 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Price Performance

Shares of VEEV opened at $234.10 on Friday. The business has a 50-day moving average of $231.62 and a 200-day moving average of $222.87. The company has a market capitalization of $38.01 billion, a price-to-earnings ratio of 57.80, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on VEEV shares. Mizuho started coverage on shares of Veeva Systems in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $275.00 target price for the company. JPMorgan Chase & Co. boosted their price objective on shares of Veeva Systems from $218.00 to $249.00 and gave the stock a “neutral” rating in a research note on Thursday, March 20th. Wells Fargo & Company lifted their price target on Veeva Systems from $275.00 to $285.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Morgan Stanley upped their price objective on Veeva Systems from $195.00 to $201.00 and gave the company an “underweight” rating in a research note on Thursday, March 6th. Finally, StockNews.com upgraded Veeva Systems from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus 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.