Blueshift Asset Management LLC Invests $227,000 in Veeva Systems Inc. (NYSE:VEEV)

Blueshift Asset Management LLC acquired a new position in Veeva Systems Inc. (NYSE:VEEV) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,081 shares of the technology company’s stock, valued at approximately $227,000.

Several other institutional investors have also recently made changes to their positions in the stock. Teacher Retirement System of Texas raised its stake in shares of Veeva Systems by 143.1% in the fourth quarter. Teacher Retirement System of Texas now owns 142,395 shares of the technology company’s stock worth $29,939,000 after buying an additional 83,826 shares during the period. Royal London Asset Management Ltd. raised its stake in Veeva Systems by 4.9% during the 4th quarter. Royal London Asset Management Ltd. now owns 70,282 shares of the technology company’s stock valued at $14,777,000 after purchasing an additional 3,295 shares during the period. Generali Investments Management Co LLC bought a new stake in Veeva Systems during the 4th quarter valued at approximately $2,215,000. Harvest Fund Management Co. Ltd raised its stake in Veeva Systems by 940.9% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 2,415 shares of the technology company’s stock valued at $508,000 after purchasing an additional 2,183 shares during the period. Finally, Vinva Investment Management Ltd raised its stake in Veeva Systems by 343.8% during the 4th quarter. Vinva Investment Management Ltd now owns 30,032 shares of the technology company’s stock valued at $6,351,000 after purchasing an additional 23,265 shares during the period. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Up 0.5 %

VEEV opened at $236.98 on Friday. The business has a fifty day moving average of $229.24 and a 200 day moving average of $222.22. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93. The stock has a market cap of $38.47 billion, a P/E ratio of 58.51, a PEG ratio of 1.89 and a beta of 0.88.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on VEEV. The Goldman Sachs Group downgraded Veeva Systems from a “buy” rating to a “sell” rating and decreased their target price for the company from $261.00 to $200.00 in a research note on Thursday, January 23rd. Citigroup lifted their target price on Veeva Systems from $281.00 to $307.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Piper Sandler lifted their target price on Veeva Systems from $280.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Morgan Stanley raised their price target on Veeva Systems from $195.00 to $201.00 and gave the company an “underweight” rating in a report on Thursday, March 6th. Finally, Evercore ISI raised their price target on Veeva Systems from $220.00 to $245.00 and gave the company an “in-line” rating in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Veeva Systems has a consensus rating of “Moderate Buy” and an average price target of $256.52.

Veeva Systems 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.