TD Asset Management Inc. Acquires 27,396 Shares of Veeva Systems Inc. (NYSE:VEEV)

TD Asset Management Inc. raised its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 6.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 452,553 shares of the technology company’s stock after purchasing an additional 27,396 shares during the quarter. TD Asset Management Inc. owned 0.28% of Veeva Systems worth $95,149,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. MassMutual Private Wealth & Trust FSB grew its position in Veeva Systems by 72.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock worth $25,000 after acquiring an additional 50 shares in the last quarter. Centricity Wealth Management LLC bought a new stake in shares of Veeva Systems in the 4th quarter valued at approximately $25,000. Smithfield Trust Co boosted its holdings in shares of Veeva Systems by 145.5% in the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock worth $27,000 after purchasing an additional 80 shares during the period. True Wealth Design LLC increased its position in shares of Veeva Systems by 3,375.0% during the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock valued at $29,000 after purchasing an additional 135 shares during the last quarter. Finally, Retirement Wealth Solutions LLC purchased a new stake in Veeva Systems during the 4th quarter valued at $31,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

VEEV has been the topic of a number of analyst reports. The Goldman Sachs Group cut shares of Veeva Systems from a “buy” rating to a “sell” rating and cut their price objective for the company from $261.00 to $200.00 in a research report on Thursday, January 23rd. Stifel Nicolaus increased their price objective on shares of Veeva Systems from $240.00 to $272.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Stephens reissued an “overweight” rating and issued a $280.00 price objective on shares of Veeva Systems in a research note on Thursday, March 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $270.00 target price on shares of Veeva Systems in a research note on Thursday, March 6th. Finally, Canaccord Genuity Group raised their price target on Veeva Systems from $210.00 to $270.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Two investment 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. Based on data from MarketBeat.com, Veeva Systems has an average rating of “Moderate Buy” and a consensus price target of $256.52.

Veeva Systems Price Performance

Shares of VEEV stock opened at $240.41 on Wednesday. The stock’s 50-day moving average is $230.35 and its 200 day moving average is $222.59. Veeva Systems Inc. has a 1-year low of $170.25 and a 1-year high of $258.93. The company has a market cap of $39.03 billion, a P/E ratio of 59.36, a PEG ratio of 1.89 and a beta of 0.88.

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.