Veeva Systems Inc. (NYSE:VEEV) Shares Purchased by Umpqua Bank

Umpqua Bank boosted its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 4.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 3,859 shares of the technology company’s stock after purchasing an additional 180 shares during the period. Umpqua Bank’s holdings in Veeva Systems were worth $814,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of VEEV. MassMutual Private Wealth & Trust FSB boosted its holdings in Veeva Systems by 72.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock valued at $25,000 after acquiring an additional 50 shares during the period. Centricity Wealth Management LLC purchased a new position in shares of Veeva Systems in the 4th quarter valued at about $25,000. Smithfield Trust Co boosted its stake in shares of Veeva Systems by 145.5% in the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock valued at $27,000 after buying an additional 80 shares during the period. True Wealth Design LLC boosted its stake in shares of Veeva Systems by 3,375.0% in the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock valued at $29,000 after buying an additional 135 shares during the period. Finally, Avion Wealth boosted its stake in shares of Veeva Systems by 635.0% in the 4th quarter. Avion Wealth now owns 147 shares of the technology company’s stock valued at $30,000 after buying an additional 127 shares during the period. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Veeva Systems Trading Up 0.5 %

Veeva Systems stock opened at $236.98 on Friday. The firm has a market capitalization of $38.47 billion, a P/E ratio of 58.51, a PEG ratio of 1.89 and a beta of 0.88. The stock has a fifty day moving average price of $229.24 and a 200 day moving average price of $222.17. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93.

Wall Street Analyst Weigh In

VEEV has been the subject of several recent research reports. JPMorgan Chase & Co. lifted their price objective on Veeva Systems from $218.00 to $249.00 and gave the company a “neutral” rating in a research note on Thursday. StockNews.com raised Veeva Systems from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Robert W. Baird raised their target price on Veeva Systems from $283.00 to $285.00 and gave the stock an “outperform” rating in a research report on Thursday, March 6th. Scotiabank raised their target price on Veeva Systems from $240.00 to $245.00 and gave the stock a “sector perform” rating in a research report on Thursday, March 6th. Finally, Stephens reaffirmed an “overweight” rating and set a $280.00 price target on shares of Veeva Systems in a research report on Thursday, March 6th. Two equities 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 company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $256.52.

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.