Callan Family Office LLC Buys Shares of 969 Veeva Systems Inc. (NYSE:VEEV)

Callan Family Office LLC bought a new stake in Veeva Systems Inc. (NYSE:VEEV) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 969 shares of the technology company’s stock, valued at approximately $204,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in VEEV. Raymond James Financial Inc. acquired a new position in shares of Veeva Systems during the 4th quarter valued at about $95,710,000. Promus Capital LLC acquired a new position in shares of Veeva Systems during the 4th quarter valued at about $36,000. Arizona State Retirement System increased its stake in shares of Veeva Systems by 1.6% during the 4th quarter. Arizona State Retirement System now owns 44,682 shares of the technology company’s stock valued at $9,394,000 after acquiring an additional 685 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Veeva Systems during the 4th quarter valued at about $22,545,000. Finally, Atria Investments Inc increased its stake in shares of Veeva Systems by 5.8% during the 4th quarter. Atria Investments Inc now owns 15,867 shares of the technology company’s stock valued at $3,336,000 after acquiring an additional 868 shares during the last quarter. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Veeva Systems Trading Down 3.5 %

VEEV stock opened at $231.30 on Wednesday. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93. The company has a market capitalization of $37.55 billion, a P/E ratio of 57.11, a PEG ratio of 1.89 and a beta of 0.88. The firm has a 50 day simple moving average of $225.89 and a 200-day simple moving average of $220.87.

Wall Street Analyst Weigh In

A number of research firms have recently commented on VEEV. Royal Bank of Canada upped their price objective on shares of Veeva Systems from $275.00 to $285.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Evercore ISI increased their target price on shares of Veeva Systems from $220.00 to $245.00 and gave the stock an “in-line” rating in a research report on Friday, December 6th. Mizuho began coverage on shares of Veeva Systems in a research report on Wednesday, December 4th. They set an “outperform” rating and a $275.00 target price for the company. Citigroup increased their target price on shares of Veeva Systems from $281.00 to $307.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Truist Financial increased their target price on shares of Veeva Systems from $210.00 to $217.00 and gave the stock a “hold” rating in a research report on Thursday, March 6th. Two 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.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $255.28.

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.