Orion Portfolio Solutions LLC Boosts Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Orion Portfolio Solutions LLC lifted its stake in Veeva Systems Inc. (NYSE:VEEV) by 438.8% in the fourth quarter, HoldingsChannel reports. The firm owned 44,153 shares of the technology company’s stock after acquiring an additional 35,958 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Veeva Systems were worth $9,283,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Toronto Dominion Bank boosted 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 buying an additional 5,673 shares during the period. Principal Financial Group Inc. increased its stake in shares of 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 during the period. Smith Group Asset Management LLC raised its holdings in 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 valued at $17,360,000 after acquiring an additional 1,749 shares in the last quarter. Everence Capital Management Inc. purchased a new position in Veeva Systems in the fourth quarter worth approximately $816,000. Finally, Venturi Wealth Management LLC grew its holdings in Veeva Systems by 2,716.7% during the 4th quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company’s stock worth $36,000 after acquiring an additional 163 shares in the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Stock Performance

Shares of Veeva Systems stock opened at $234.10 on Friday. The company has a market cap of $38.01 billion, a P/E ratio of 57.80, a PEG ratio of 1.89 and a beta of 0.88. The firm has a fifty day moving average of $231.62 and a two-hundred day moving average of $222.87. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93.

Analyst Ratings Changes

VEEV has been the topic of a number of analyst reports. Truist Financial raised their price objective on shares of Veeva Systems from $210.00 to $217.00 and gave the company a “hold” rating in a report on Thursday, March 6th. Wells Fargo & Company upped their price objective on Veeva Systems from $275.00 to $285.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. StockNews.com raised Veeva Systems from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Evercore ISI upped 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. Finally, Mizuho began coverage on shares of Veeva Systems in a report on Wednesday, December 4th. They set an “outperform” rating and a $275.00 price objective on the stock. Two investment 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $256.52.

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.