Independent Advisor Alliance Has $459,000 Position in Veeva Systems Inc. (NYSE:VEEV)

Independent Advisor Alliance increased its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 4.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,181 shares of the technology company’s stock after acquiring an additional 89 shares during the period. Independent Advisor Alliance’s holdings in Veeva Systems were worth $459,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. MassMutual Private Wealth & Trust FSB boosted its position in shares of Veeva Systems by 72.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock valued at $25,000 after acquiring an additional 50 shares in the last quarter. Centricity Wealth Management LLC acquired a new position in Veeva Systems in the fourth quarter valued at about $25,000. Smithfield Trust Co boosted its position in 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 buying an additional 80 shares in the last quarter. True Wealth Design LLC boosted its position in 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 buying an additional 135 shares in the last quarter. Finally, Avion Wealth boosted its position in 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 buying an additional 127 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on VEEV shares. Mizuho started coverage on shares of Veeva Systems in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $275.00 price target on the stock. Stifel Nicolaus boosted their price target on shares of Veeva Systems from $240.00 to $272.00 and gave the company a “buy” rating in a research report on Friday, December 6th. KeyCorp reduced their price target on shares of Veeva Systems from $285.00 to $255.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Piper Sandler boosted their target price on shares of Veeva Systems from $280.00 to $290.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Finally, Royal Bank of Canada boosted their target price on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an “outperform” rating in a research note 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 company. Based on data from MarketBeat, Veeva Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $255.28.

Veeva Systems Stock Performance

Shares of NYSE VEEV opened at $236.93 on Tuesday. The stock has a market cap of $38.47 billion, a P/E ratio of 58.50, a P/E/G ratio of 1.89 and a beta of 0.88. The firm has a 50 day moving average price of $227.61 and a 200 day moving average price of $221.69. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week 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.