Quantbot Technologies LP Grows Stake in Veeva Systems Inc. (NYSE:VEEV)

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

Several other institutional investors and hedge funds have also bought and sold shares of VEEV. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Veeva Systems by 72.5% during the fourth 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 purchased a new stake in shares of Veeva Systems during the fourth quarter valued at $25,000. Smithfield Trust Co grew its holdings in shares of 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 buying an additional 80 shares during the last quarter. True Wealth Design LLC grew its holdings in shares of Veeva Systems by 3,375.0% during the third 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 last quarter. Finally, Retirement Wealth Solutions LLC purchased a new stake in shares of Veeva Systems during the fourth quarter valued at $31,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on VEEV shares. Evercore ISI boosted their price objective on shares of Veeva Systems from $220.00 to $245.00 and gave the company an “in-line” rating in a report on Friday, December 6th. Barclays upped their price target on shares of Veeva Systems from $260.00 to $275.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Canaccord Genuity Group upped their price target on shares of Veeva Systems from $210.00 to $270.00 and gave the company a “hold” rating in a report on Friday, December 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $270.00 price target on shares of Veeva Systems in a report on Thursday, March 6th. Finally, Robert W. Baird upped their price target on shares of Veeva Systems from $283.00 to $285.00 and gave the company an “outperform” rating in a report on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, Veeva Systems presently has a consensus rating of “Moderate Buy” and an average target price of $256.52.

Veeva Systems Stock Up 0.5 %

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 company has a 50-day moving average price of $229.24 and a 200 day moving average price of $222.25. The company has a market cap of $38.47 billion, a PE ratio of 58.51, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88.

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.