Smithfield Trust Co Boosts Stake in Veeva Systems Inc. (NYSE:VEEV)

Smithfield Trust Co increased its position in Veeva Systems Inc. (NYSE:VEEV) by 145.5% in the 4th quarter, Holdings Channel reports. The firm owned 135 shares of the technology company’s stock after buying an additional 80 shares during the period. Smithfield Trust Co’s holdings in Veeva Systems were worth $27,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in VEEV. Cardinal Capital Management increased its position in Veeva Systems by 0.3% in the 4th quarter. Cardinal Capital Management now owns 15,727 shares of the technology company’s stock valued at $3,307,000 after acquiring an additional 44 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its position in Veeva Systems by 1.2% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,307 shares of the technology company’s stock valued at $904,000 after acquiring an additional 50 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in Veeva Systems by 72.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock valued at $25,000 after acquiring an additional 50 shares during the period. Patriot Financial Group Insurance Agency LLC increased its position in Veeva Systems by 0.7% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 6,975 shares of the technology company’s stock valued at $1,467,000 after acquiring an additional 51 shares during the period. Finally, CHICAGO TRUST Co NA increased its position in Veeva Systems by 2.9% in the 4th quarter. CHICAGO TRUST Co NA now owns 1,880 shares of the technology company’s stock valued at $395,000 after acquiring an additional 53 shares during the period. 88.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Stephens assumed coverage on Veeva Systems in a research report on Friday, December 20th. They set an “overweight” rating and a $280.00 target price on the stock. 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 research report on Friday, December 6th. Truist Financial dropped their target price on Veeva Systems from $261.00 to $210.00 and set a “hold” rating on the stock in a research report on Monday, January 13th. Morgan Stanley boosted their target price on Veeva Systems from $183.00 to $195.00 and gave the stock an “underweight” rating in a research report on Tuesday, December 17th. Finally, The Goldman Sachs Group cut Veeva Systems from a “buy” rating to a “sell” rating and dropped their target price for the stock from $261.00 to $200.00 in a research report on Thursday, January 23rd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $254.48.

Veeva Systems Stock Up 0.9 %

VEEV stock opened at $220.32 on Thursday. The company has a market cap of $35.77 billion, a price-to-earnings ratio of 54.40, a PEG ratio of 1.89 and a beta of 0.85. The business has a fifty day simple moving average of $223.82 and a 200-day simple moving average of $219.54. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93.

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.