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

Skandinaviska Enskilda Banken AB publ boosted its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 14.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 236,757 shares of the technology company’s stock after purchasing an additional 29,338 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned 0.15% of Veeva Systems worth $50,067,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of VEEV. Toronto Dominion Bank grew its holdings in shares of Veeva Systems by 39.1% during the 3rd quarter. Toronto Dominion Bank now owns 20,180 shares of the technology company’s stock worth $4,235,000 after purchasing an additional 5,673 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Veeva Systems by 138.9% during the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock worth $457,366,000 after buying an additional 1,267,061 shares in the last quarter. Oppenheimer Asset Management Inc. increased its holdings in Veeva Systems by 3.6% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 78,000 shares of the technology company’s stock valued at $16,370,000 after buying an additional 2,733 shares during the period. Smith Group Asset Management LLC raised its stake in shares of Veeva Systems by 2.2% in the 4th quarter. Smith Group Asset Management LLC now owns 82,567 shares of the technology company’s stock valued at $17,360,000 after buying an additional 1,749 shares in the last quarter. Finally, Everence Capital Management Inc. bought a new position in shares of Veeva Systems during the 4th quarter worth about $816,000. 88.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on VEEV. JPMorgan Chase & Co. upped their target price on shares of Veeva Systems from $208.00 to $218.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. Wells Fargo & Company increased their target price on Veeva Systems from $275.00 to $285.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Evercore ISI boosted their price target on Veeva Systems from $220.00 to $245.00 and gave the company an “in-line” rating in a research note on Friday, December 6th. Morgan Stanley increased their price objective on Veeva Systems from $195.00 to $201.00 and gave the stock an “underweight” rating in a research note on Thursday, March 6th. Finally, Mizuho assumed coverage on shares of Veeva Systems in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $275.00 target price on the stock. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $255.28.

Veeva Systems Price Performance

VEEV opened at $233.34 on Thursday. The firm has a 50 day simple moving average of $226.36 and a 200 day simple moving average of $220.96. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93. The company has a market cap of $37.88 billion, a price-to-earnings ratio of 57.62, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88.

About Veeva Systems

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.