Sava Infond d.o.o. Makes New Investment in Veeva Systems Inc. (NYSE:VEEV)

Sava Infond d.o.o. bought a new stake in shares of Veeva Systems Inc. (NYSE:VEEV) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,110 shares of the technology company’s stock, valued at approximately $1,074,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in VEEV. Toronto Dominion Bank raised its stake in shares of Veeva Systems by 39.1% in the 3rd quarter. Toronto Dominion Bank now owns 20,180 shares of the technology company’s stock valued at $4,235,000 after acquiring an additional 5,673 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of 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 valued at $457,366,000 after purchasing an additional 1,267,061 shares during the period. Smith Group Asset Management LLC lifted its stake in shares of Veeva Systems by 2.2% in the fourth quarter. Smith Group Asset Management LLC now owns 82,567 shares of the technology company’s stock worth $17,360,000 after buying an additional 1,749 shares during the last quarter. Everence Capital Management Inc. bought a new stake in shares of Veeva Systems during the 4th quarter worth $816,000. Finally, Venturi Wealth Management LLC grew its stake in Veeva Systems by 2,716.7% in the 4th quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company’s stock valued at $36,000 after buying an additional 163 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Trading Down 2.1 %

NYSE:VEEV opened at $235.52 on Thursday. The stock has a market capitalization of $38.24 billion, a P/E ratio of 58.15, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93. The firm has a 50 day moving average of $230.82 and a 200-day moving average of $222.68.

Analyst Upgrades and Downgrades

VEEV has been the subject of a number of research analyst reports. Truist Financial boosted their target price on shares of Veeva Systems from $210.00 to $217.00 and gave the stock a “hold” rating in a research report on Thursday, March 6th. Mizuho began coverage on Veeva Systems in a report on Wednesday, December 4th. They issued an “outperform” rating and a $275.00 target price on the stock. Stifel Nicolaus upped their price target on Veeva Systems from $240.00 to $272.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Needham & Company LLC reissued a “buy” rating and issued a $270.00 price objective on shares of Veeva Systems in a research report on Thursday, March 6th. Finally, Citigroup boosted their target price on shares of Veeva Systems from $281.00 to $307.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Two investment 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’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $256.52.

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.