Envestnet Portfolio Solutions Inc. Acquires 8,280 Shares of Veeva Systems Inc. (NYSE:VEEV)

Envestnet Portfolio Solutions Inc. increased its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 28.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 37,641 shares of the technology company’s stock after acquiring an additional 8,280 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Veeva Systems were worth $7,914,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of VEEV. Toronto Dominion Bank increased its holdings in Veeva Systems by 39.1% in the 3rd quarter. Toronto Dominion Bank now owns 20,180 shares of the technology company’s stock valued at $4,235,000 after buying an additional 5,673 shares during the period. Principal Financial Group Inc. increased its holdings in Veeva Systems by 138.9% in the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock valued at $457,366,000 after buying an additional 1,267,061 shares during the period. Smith Group Asset Management LLC increased its holdings in Veeva Systems by 2.2% in the 4th quarter. Smith Group Asset Management LLC now owns 82,567 shares of the technology company’s stock valued at $17,360,000 after buying an additional 1,749 shares during the period. Everence Capital Management Inc. bought a new position in Veeva Systems in the 4th quarter valued at about $816,000. Finally, Venturi Wealth Management LLC increased its holdings in Veeva Systems by 2,716.7% in the 4th quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company’s stock valued at $36,000 after buying an additional 163 shares during the period. 88.20% of the stock is owned by institutional investors.

Veeva Systems Stock Up 1.2 %

Shares of VEEV opened at $236.93 on Tuesday. The business’s 50-day moving average price is $227.61 and its 200-day moving average price is $221.69. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93. The stock has a market cap of $38.47 billion, a PE ratio of 58.50, a P/E/G ratio of 1.89 and a beta of 0.88.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on VEEV. Canaccord Genuity Group raised their price target on shares of Veeva Systems from $210.00 to $270.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Stephens restated an “overweight” rating and issued a $280.00 price target on shares of Veeva Systems in a research note on Thursday, March 6th. Robert W. Baird raised their price target on shares of Veeva Systems from $283.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday, March 6th. KeyCorp reduced their price target on shares of Veeva Systems from $285.00 to $255.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Finally, StockNews.com upgraded shares of 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 issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $255.28.

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.