LPL Financial LLC Has $27.61 Million Stock Position in Veeva Systems Inc. (NYSE:VEEV)

LPL Financial LLC grew its stake in Veeva Systems Inc. (NYSE:VEEV) by 13.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 131,341 shares of the technology company’s stock after buying an additional 15,727 shares during the period. LPL Financial LLC owned 0.08% of Veeva Systems worth $27,614,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in VEEV. Principal Financial Group Inc. raised its position 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 purchasing an additional 1,267,061 shares during the period. Algert Global LLC lifted its holdings in Veeva Systems by 64.0% during the third quarter. Algert Global LLC now owns 2,254 shares of the technology company’s stock worth $473,000 after acquiring an additional 880 shares during the period. D.A. Davidson & CO. boosted its holdings in shares of Veeva Systems by 2.5% in the 3rd quarter. D.A. Davidson & CO. now owns 5,630 shares of the technology company’s stock worth $1,182,000 after buying an additional 136 shares during the last quarter. Townsquare Capital LLC boosted its stake in Veeva Systems by 35.7% in the third quarter. Townsquare Capital LLC now owns 4,762 shares of the technology company’s stock valued at $999,000 after acquiring an additional 1,253 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Veeva Systems by 17.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 77,653 shares of the technology company’s stock valued at $16,297,000 after buying an additional 11,433 shares during the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Trading Down 1.4 %

VEEV opened at $234.10 on Friday. The company has a market cap of $38.01 billion, a P/E ratio of 57.80, a P/E/G ratio of 1.89 and a beta of 0.88. Veeva Systems Inc. has a 12 month low of $170.25 and a 12 month high of $258.93. The business’s 50-day moving average price is $231.62 and its 200-day moving average price is $222.87.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Barclays lifted their target price on shares of Veeva Systems from $260.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Scotiabank upped their price target on Veeva Systems from $240.00 to $245.00 and gave the company a “sector perform” rating in a research report on Thursday, March 6th. Wells Fargo & Company increased their price target on shares of 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 objective on shares of Veeva Systems from $220.00 to $245.00 and gave the company an “in-line” rating in a research note on Friday, December 6th. Finally, Morgan Stanley increased their target price on shares of Veeva Systems from $195.00 to $201.00 and gave the stock an “underweight” rating in a research note on Thursday, March 6th. Two 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $256.52.

Veeva Systems Company 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.