Postrock Partners LLC Acquires New Holdings in Veeva Systems Inc. (NYSE:VEEV)

Postrock Partners LLC bought a new position in Veeva Systems Inc. (NYSE:VEEV) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,470 shares of the technology company’s stock, valued at approximately $2,201,000. Veeva Systems makes up approximately 1.1% of Postrock Partners LLC’s investment portfolio, making the stock its 19th biggest position.

Other hedge funds have also modified their holdings of the company. MassMutual Private Wealth & Trust FSB raised its stake 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 valued at $25,000 after buying an additional 50 shares during the last quarter. Centricity Wealth Management LLC acquired a new position in Veeva Systems during the 4th quarter valued at approximately $25,000. Smithfield Trust Co raised its holdings in shares of Veeva Systems by 145.5% in the fourth quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock worth $27,000 after buying an additional 80 shares during the last quarter. True Wealth Design LLC lifted its stake in shares of Veeva Systems by 3,375.0% during the third quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock worth $29,000 after buying an additional 135 shares during the period. Finally, Avion Wealth grew its holdings in shares of Veeva Systems by 635.0% during the fourth quarter. Avion Wealth now owns 147 shares of the technology company’s stock valued at $30,000 after buying an additional 127 shares during the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. StockNews.com upgraded Veeva Systems from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Citigroup increased their price target on shares of Veeva Systems from $281.00 to $307.00 and gave the stock a “buy” rating in a report on Monday, December 9th. KeyCorp dropped their price objective on shares of Veeva Systems from $285.00 to $255.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Morgan Stanley increased their price objective on shares of Veeva Systems from $195.00 to $201.00 and gave the stock an “underweight” rating in a research note on Thursday, March 6th. Finally, Royal Bank of Canada boosted their target price on shares of Veeva Systems from $275.00 to $285.00 and gave the company an “outperform” rating in a research report 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $255.28.

Veeva Systems Stock Performance

VEEV stock opened at $228.01 on Friday. The firm has a market cap of $37.02 billion, a PE ratio of 56.30, a PEG ratio of 1.89 and a beta of 0.88. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93. The firm’s 50 day moving average price is $226.71 and its 200-day moving average price is $221.00.

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.