UNIVEST FINANCIAL Corp Has $5.19 Million Stake in Veeva Systems Inc. (NYSE:VEEV)

UNIVEST FINANCIAL Corp grew its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 17.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,677 shares of the technology company’s stock after purchasing an additional 3,595 shares during the period. UNIVEST FINANCIAL Corp’s holdings in Veeva Systems were worth $5,188,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in VEEV. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Veeva Systems by 72.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock worth $25,000 after purchasing an additional 50 shares in the last quarter. Centricity Wealth Management LLC bought a new stake in Veeva Systems during the fourth quarter worth about $25,000. Smithfield Trust Co grew its stake in Veeva Systems by 145.5% during the fourth quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock worth $27,000 after buying an additional 80 shares in the last quarter. True Wealth Design LLC increased its holdings in 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 raised its position 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 in the last quarter. 88.20% of the stock is owned by institutional investors.

Veeva Systems Stock Performance

VEEV stock opened at $240.41 on Wednesday. The company has a market capitalization of $39.03 billion, a P/E ratio of 59.36, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93. The business has a 50-day simple moving average of $230.35 and a two-hundred day simple moving average of $222.59.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Truist Financial raised their target price on Veeva Systems from $210.00 to $217.00 and gave the company a “hold” rating in a report on Thursday, March 6th. The Goldman Sachs Group lowered Veeva Systems from a “buy” rating to a “sell” rating and reduced their price objective for the company from $261.00 to $200.00 in a research note on Thursday, January 23rd. Robert W. Baird boosted their target price on Veeva Systems from $283.00 to $285.00 and gave the stock an “outperform” rating in a research note on Thursday, March 6th. Stifel Nicolaus increased their target price on shares of Veeva Systems from $240.00 to $272.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Finally, Bank of America upped their price objective on shares of Veeva Systems from $280.00 to $290.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Two investment 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. According to data from MarketBeat, Veeva Systems currently has an average rating of “Moderate Buy” and an average price target 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.