Bestgate Wealth Advisors LLC Buys Shares of 1,133 Veeva Systems Inc. (NYSE:VEEV)

Bestgate Wealth Advisors LLC bought a new stake in Veeva Systems Inc. (NYSE:VEEV) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,133 shares of the technology company’s stock, valued at approximately $238,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. VSM Wealth Advisory LLC bought a new stake in shares of Veeva Systems during the fourth quarter valued at approximately $42,000. Xponance Inc. raised its holdings in shares of Veeva Systems by 8.3% during the fourth quarter. Xponance Inc. now owns 28,754 shares of the technology company’s stock valued at $6,046,000 after buying an additional 2,209 shares during the last quarter. Generali Asset Management SPA SGR bought a new stake in shares of Veeva Systems during the fourth quarter valued at approximately $3,392,000. Leelyn Smith LLC raised its holdings in shares of Veeva Systems by 9.9% during the fourth quarter. Leelyn Smith LLC now owns 8,253 shares of the technology company’s stock valued at $1,735,000 after buying an additional 741 shares during the last quarter. Finally, William Blair Investment Management LLC raised its holdings in shares of Veeva Systems by 17.9% during the fourth quarter. William Blair Investment Management LLC now owns 796,304 shares of the technology company’s stock valued at $167,423,000 after buying an additional 120,661 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Stock Performance

NYSE VEEV opened at $236.05 on Wednesday. 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 $38.32 billion, a price-to-earnings ratio of 58.28, a PEG ratio of 1.89 and a beta of 0.88. The firm’s 50 day moving average price is $228.10 and its two-hundred day moving average price is $221.83.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Stephens reaffirmed an “overweight” rating and set a $280.00 price target on shares of Veeva Systems in a report on Thursday, March 6th. Wells Fargo & Company boosted their target price on Veeva Systems from $275.00 to $285.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Bank of America boosted their target price on Veeva Systems from $280.00 to $290.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Needham & Company LLC reissued a “buy” rating and set a $270.00 target price on shares of Veeva Systems in a report on Thursday, March 6th. Finally, Citigroup boosted their target price on Veeva Systems from $281.00 to $307.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Two equities research 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’s stock. According to data from MarketBeat, Veeva Systems has a consensus rating of “Moderate Buy” and a consensus target price 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.