Generali Asset Management SPA SGR Takes $3.39 Million Position in Veeva Systems Inc. (NYSE:VEEV)

Generali Asset Management SPA SGR acquired a new position in Veeva Systems Inc. (NYSE:VEEV) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 16,134 shares of the technology company’s stock, valued at approximately $3,392,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cardinal Capital Management raised its position in Veeva Systems by 0.3% in the 4th quarter. Cardinal Capital Management now owns 15,727 shares of the technology company’s stock worth $3,307,000 after purchasing an additional 44 shares during the period. MassMutual Private Wealth & Trust FSB raised its position in Veeva Systems by 72.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock worth $25,000 after purchasing an additional 50 shares during the period. Patriot Financial Group Insurance Agency LLC raised its position in Veeva Systems by 0.7% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 6,975 shares of the technology company’s stock worth $1,467,000 after purchasing an additional 51 shares during the period. CHICAGO TRUST Co NA raised its position in Veeva Systems by 2.9% in the 4th quarter. CHICAGO TRUST Co NA now owns 1,880 shares of the technology company’s stock worth $395,000 after purchasing an additional 53 shares during the period. Finally, Old North State Wealth Management LLC raised its position in Veeva Systems by 0.4% in the 4th quarter. Old North State Wealth Management LLC now owns 15,351 shares of the technology company’s stock worth $3,228,000 after purchasing an additional 55 shares during the period. 88.20% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems Stock Up 0.3 %

Shares of VEEV opened at $237.09 on Thursday. The company has a market cap of $38.49 billion, a price-to-earnings ratio of 58.54, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93. The company has a 50 day moving average of $228.49 and a two-hundred day moving average of $221.93.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on VEEV shares. Barclays increased their price objective on shares of Veeva Systems from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Bank of America raised their target price on shares of Veeva Systems from $280.00 to $290.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Robert W. Baird raised their target price on shares of Veeva Systems from $283.00 to $285.00 and gave the stock an “outperform” rating in a research report on Thursday, March 6th. Canaccord Genuity Group raised their target price on shares of Veeva Systems from $210.00 to $270.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Finally, JPMorgan Chase & Co. raised their target price 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. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Veeva Systems has a consensus rating of “Moderate Buy” and a consensus target price of $255.28.

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.