5,986 Shares in Veeva Systems Inc. (NYSE:VEEV) Acquired by Gallagher Capital Advisors LLC

Gallagher Capital Advisors LLC purchased a new stake in shares of Veeva Systems Inc. (NYSE:VEEV) during the 4th quarter, Holdings Channel.com reports. The fund purchased 5,986 shares of the technology company’s stock, valued at approximately $1,259,000. Veeva Systems accounts for approximately 0.9% of Gallagher Capital Advisors LLC’s investment portfolio, making the stock its 27th largest holding.

A number of other hedge funds have also modified their holdings of VEEV. Daiwa Securities Group Inc. lifted its holdings in Veeva Systems by 18.9% in the 4th quarter. Daiwa Securities Group Inc. now owns 21,406 shares of the technology company’s stock worth $4,500,000 after purchasing an additional 3,400 shares in the last quarter. Moran Wealth Management LLC raised its position in shares of Veeva Systems by 3.0% during the fourth quarter. Moran Wealth Management LLC now owns 64,664 shares of the technology company’s stock valued at $13,596,000 after buying an additional 1,906 shares during the last quarter. OFI Invest Asset Management purchased a new position in shares of Veeva Systems in the fourth quarter worth $41,000. Schaper Benz & Wise Investment Counsel Inc. WI boosted its position in shares of Veeva Systems by 31.0% during the fourth quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 5,921 shares of the technology company’s stock worth $1,245,000 after acquiring an additional 1,402 shares during the last quarter. Finally, Amundi boosted its position in shares of Veeva Systems by 9.8% during the fourth quarter. Amundi now owns 459,044 shares of the technology company’s stock worth $99,750,000 after acquiring an additional 40,884 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

VEEV has been the topic of several research analyst reports. StockNews.com upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Stifel Nicolaus boosted their target price on Veeva Systems from $240.00 to $272.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Robert W. Baird increased their price target on Veeva Systems from $283.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday. Stephens reaffirmed an “overweight” rating and issued a $280.00 price objective on shares of Veeva Systems in a research note on Thursday. Finally, Royal Bank of Canada increased their target price on Veeva Systems from $275.00 to $285.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $255.28.

Veeva Systems Trading Up 4.6 %

Shares of VEEV opened at $247.10 on Monday. The firm has a fifty day moving average price of $224.92 and a 200-day moving average price of $220.34. The firm has a market capitalization of $40.12 billion, a P/E ratio of 61.01, a P/E/G 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.

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.