Generali Investments Management Co LLC Acquires Shares of 10,537 Veeva Systems Inc. (NYSE:VEEV)

Generali Investments Management Co LLC acquired a new stake in Veeva Systems Inc. (NYSE:VEEV) in the fourth quarter, Holdings Channel reports. The fund acquired 10,537 shares of the technology company’s stock, valued at approximately $2,215,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of 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 purchasing an additional 50 shares in the last quarter. Centricity Wealth Management LLC bought a new position in shares of Veeva Systems in the fourth quarter valued at approximately $25,000. Smithfield Trust Co lifted 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 valued at $27,000 after purchasing an additional 80 shares in the last quarter. True Wealth Design LLC lifted its holdings in shares of Veeva Systems by 3,375.0% in the third quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock valued at $29,000 after purchasing an additional 135 shares in the last quarter. Finally, Avion Wealth lifted its holdings in shares of Veeva Systems by 635.0% in the fourth quarter. Avion Wealth now owns 147 shares of the technology company’s stock valued at $30,000 after purchasing an additional 127 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Wall Street Analysts Forecast Growth

VEEV has been the topic of a number of recent research reports. Stephens restated an “overweight” rating and issued a $280.00 target price on shares of Veeva Systems in a report on Thursday, March 6th. Citigroup raised their target price on Veeva Systems from $281.00 to $307.00 and gave the company a “buy” rating in a report on Monday, December 9th. JPMorgan Chase & Co. raised their target price on Veeva Systems from $208.00 to $218.00 and gave the company a “neutral” rating in a report on Monday, December 16th. Piper Sandler lifted their price target on Veeva Systems from $280.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Finally, Truist Financial lifted their price target on Veeva Systems from $210.00 to $217.00 and gave the stock a “hold” rating in a report on Thursday, March 6th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, Veeva Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $255.28.

Veeva Systems Price Performance

Shares of VEEV opened at $236.05 on Wednesday. The firm has a market cap of $38.32 billion, a PE ratio of 58.28, a PEG ratio of 1.89 and a beta of 0.88. The stock’s fifty day moving average price is $228.10 and its two-hundred day moving average price is $221.83. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93.

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.