Triad Wealth Partners LLC Purchases New Position in Veeva Systems Inc. (NYSE:VEEV)

Triad Wealth Partners LLC purchased a new stake in Veeva Systems Inc. (NYSE:VEEV) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 1,007 shares of the technology company’s stock, valued at approximately $212,000.

A number of other hedge funds have also modified their holdings of the company. Keybank National Association OH raised its position in shares of Veeva Systems by 22.0% in the 4th quarter. Keybank National Association OH now owns 3,042 shares of the technology company’s stock valued at $640,000 after acquiring an additional 549 shares during the period. Torray Investment Partners LLC raised its position in shares of Veeva Systems by 0.7% in the 4th quarter. Torray Investment Partners LLC now owns 32,813 shares of the technology company’s stock valued at $6,899,000 after acquiring an additional 242 shares during the period. State of Michigan Retirement System raised its position in shares of Veeva Systems by 1,600.0% in the 4th quarter. State of Michigan Retirement System now owns 30,600 shares of the technology company’s stock valued at $6,434,000 after acquiring an additional 28,800 shares during the period. Fidelis Capital Partners LLC acquired a new stake in shares of Veeva Systems in the 4th quarter valued at approximately $222,000. Finally, LGT Fund Management Co Ltd. raised its position in shares of Veeva Systems by 95.3% in the 4th quarter. LGT Fund Management Co Ltd. now owns 33,249 shares of the technology company’s stock valued at $6,991,000 after acquiring an additional 16,225 shares during the period. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Stock Performance

VEEV opened at $220.32 on Thursday. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93. The company has a market capitalization of $35.77 billion, a P/E ratio of 54.40, a P/E/G ratio of 1.89 and a beta of 0.85. The stock has a fifty day moving average of $223.82 and a 200-day moving average of $219.54.

Analyst Ratings Changes

VEEV has been the topic of several research analyst reports. Wells Fargo & Company raised their target price on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Stephens initiated coverage on shares of Veeva Systems in a report on Friday, December 20th. They set an “overweight” rating and a $280.00 target price on the stock. Truist Financial dropped their target price on shares of Veeva Systems from $261.00 to $210.00 and set a “hold” rating on the stock in a report on Monday, January 13th. Piper Sandler raised their target price on shares of Veeva Systems from $280.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Finally, The Goldman Sachs Group downgraded shares of 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 report on Thursday, January 23rd. Two 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $254.48.

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.