UNIVEST FINANCIAL Corp Buys 3,595 Shares of Veeva Systems Inc. (NYSE:VEEV)

UNIVEST FINANCIAL Corp grew its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 17.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,677 shares of the technology company’s stock after buying an additional 3,595 shares during the period. UNIVEST FINANCIAL Corp’s holdings in Veeva Systems were worth $5,188,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of VEEV. MassMutual Private Wealth & Trust FSB raised its stake in Veeva Systems by 72.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock worth $25,000 after buying an additional 50 shares during the period. Centricity Wealth Management LLC acquired a new stake in shares of Veeva Systems during the fourth quarter worth about $25,000. Smithfield Trust Co lifted its holdings in shares of Veeva Systems by 145.5% during the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock valued at $27,000 after purchasing an additional 80 shares in the last quarter. True Wealth Design LLC grew its position in shares of Veeva Systems by 3,375.0% in 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 period. Finally, Avion Wealth grew its position in shares of Veeva Systems by 635.0% in the 4th quarter. Avion Wealth now owns 147 shares of the technology company’s stock valued at $30,000 after purchasing an additional 127 shares during the period. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Stock Performance

Shares of VEEV stock opened at $240.41 on Wednesday. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93. The company has a market capitalization of $39.03 billion, a price-to-earnings ratio of 59.36, a PEG ratio of 1.89 and a beta of 0.88. The company has a 50-day simple moving average of $230.35 and a 200 day simple moving average of $222.59.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on VEEV. Morgan Stanley lifted their price target on shares of Veeva Systems from $195.00 to $201.00 and gave the company an “underweight” rating in a research note on Thursday, March 6th. Barclays upped their target price on shares of Veeva Systems from $260.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Mizuho started coverage on Veeva Systems in a report on Wednesday, December 4th. They issued an “outperform” rating and a $275.00 price target on the stock. KeyCorp decreased their price objective on Veeva Systems from $285.00 to $255.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Finally, Robert W. Baird boosted their target price on Veeva Systems from $283.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday, March 6th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Veeva Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $256.52.

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.