Veeva Systems Inc. (NYSE:VEEV) Stock Holdings Decreased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lessened its position in Veeva Systems Inc. (NYSE:VEEV) by 20.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 70,241 shares of the technology company’s stock after selling 18,213 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Veeva Systems were worth $14,768,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in VEEV. Leelyn Smith LLC boosted its position in shares of Veeva Systems by 9.9% in the fourth quarter. Leelyn Smith LLC now owns 8,253 shares of the technology company’s stock worth $1,735,000 after buying an additional 741 shares during the period. William Blair Investment Management LLC boosted its position in Veeva Systems by 17.9% during the 4th quarter. William Blair Investment Management LLC now owns 796,304 shares of the technology company’s stock worth $167,423,000 after acquiring an additional 120,661 shares during the period. Counterpoint Mutual Funds LLC purchased a new position in Veeva Systems during the 4th quarter valued at about $331,000. Jensen Investment Management Inc. increased its holdings in shares of Veeva Systems by 8.4% in the 4th quarter. Jensen Investment Management Inc. now owns 25,211 shares of the technology company’s stock valued at $5,301,000 after purchasing an additional 1,960 shares during the period. Finally, Corient Private Wealth LLC boosted its holdings in shares of Veeva Systems by 1,281.1% during the fourth quarter. Corient Private Wealth LLC now owns 188,591 shares of the technology company’s stock worth $39,651,000 after purchasing an additional 174,936 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Trading Up 0.5 %

VEEV opened at $236.98 on Friday. Veeva Systems Inc. has a 1-year low of $170.25 and a 1-year high of $258.93. The business has a 50 day moving average of $229.24 and a 200-day moving average of $222.17. The stock has a market capitalization of $38.47 billion, a price-to-earnings ratio of 58.51, a P/E/G ratio of 1.89 and a beta of 0.88.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on VEEV shares. Truist Financial upped their price objective on shares of Veeva Systems from $210.00 to $217.00 and gave the company a “hold” rating in a research note on Thursday, March 6th. Scotiabank increased their price objective on Veeva Systems from $240.00 to $245.00 and gave the stock a “sector perform” rating in a report on Thursday, March 6th. Citigroup boosted their target price on Veeva Systems from $281.00 to $307.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Piper Sandler raised their price target on Veeva Systems from $280.00 to $290.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Finally, Stephens reissued an “overweight” rating and issued a $280.00 price target on shares of Veeva Systems in a research note on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $256.52.

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.