Atria Investments Inc Buys 868 Shares of Veeva Systems Inc. (NYSE:VEEV)

Atria Investments Inc boosted its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 5.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,867 shares of the technology company’s stock after acquiring an additional 868 shares during the quarter. Atria Investments Inc’s holdings in Veeva Systems were worth $3,336,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA boosted its stake in shares of Veeva Systems by 64.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company’s stock valued at $744,084,000 after purchasing an additional 1,392,256 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of 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 purchasing an additional 1,267,061 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Veeva Systems by 73.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company’s stock valued at $536,972,000 after purchasing an additional 1,081,501 shares during the last quarter. FMR LLC boosted its stake in shares of Veeva Systems by 25.7% in the 3rd quarter. FMR LLC now owns 2,981,244 shares of the technology company’s stock valued at $625,674,000 after purchasing an additional 610,021 shares during the last quarter. Finally, Seilern Investment Management Ltd bought a new position in shares of Veeva Systems in the 4th quarter valued at about $94,957,000. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Up 4.6 %

NYSE VEEV opened at $247.10 on Friday. The firm’s 50 day moving average is $224.92 and its 200-day moving average is $220.21. The company has a market capitalization of $40.12 billion, a PE ratio of 61.01, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88. Veeva Systems Inc. has a 12-month low of $170.25 and a 12-month high of $258.93.

Analysts Set New Price Targets

VEEV has been the topic of several recent research reports. Canaccord Genuity Group raised their target price 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. Royal Bank of Canada raised their target price on shares of Veeva Systems from $275.00 to $285.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Citigroup raised their target price on shares of Veeva Systems from $281.00 to $307.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Stephens reaffirmed an “overweight” rating and issued a $280.00 target price on shares of Veeva Systems in a research note on Thursday. Finally, Barclays increased their price target on shares of Veeva Systems from $260.00 to $275.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Veeva Systems currently has a consensus rating of “Moderate Buy” and a consensus price target 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.