Skandinaviska Enskilda Banken AB publ Has $50.07 Million Position in Veeva Systems Inc. (NYSE:VEEV)

Skandinaviska Enskilda Banken AB publ grew its stake in Veeva Systems Inc. (NYSE:VEEV) by 14.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 236,757 shares of the technology company’s stock after acquiring an additional 29,338 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Veeva Systems were worth $50,067,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of VEEV. Principal Financial Group Inc. raised its holdings in Veeva Systems by 138.9% in the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock worth $457,366,000 after purchasing an additional 1,267,061 shares during the period. Atria Investments Inc increased its position in shares of Veeva Systems by 13.7% in the 3rd quarter. Atria Investments Inc now owns 14,999 shares of the technology company’s stock valued at $3,148,000 after buying an additional 1,811 shares in the last quarter. Mesirow Financial Investment Management Inc. acquired a new stake in Veeva Systems during the 3rd quarter worth $377,000. GSA Capital Partners LLP bought a new position in Veeva Systems during the third quarter worth about $526,000. Finally, Simmons Bank acquired a new position in Veeva Systems in the third quarter valued at about $952,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on VEEV shares. 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 report on Friday, December 6th. Stifel Nicolaus lifted their price target on shares of Veeva Systems from $240.00 to $272.00 and gave the company a “buy” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. increased their price objective on shares of Veeva Systems from $208.00 to $218.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. Needham & Company LLC restated a “buy” rating and set a $270.00 price objective on shares of Veeva Systems in a report on Thursday, March 6th. Finally, 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. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $255.28.

Veeva Systems Price Performance

Shares of Veeva Systems stock opened at $233.34 on Thursday. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93. The company has a market capitalization of $37.88 billion, a price-to-earnings ratio of 57.62, a P/E/G ratio of 1.89 and a beta of 0.88. The business has a fifty day simple moving average of $226.36 and a two-hundred day simple moving average of $220.96.

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.