Callan Family Office LLC Makes New $204,000 Investment in Veeva Systems Inc. (NYSE:VEEV)

Callan Family Office LLC acquired a new position in Veeva Systems Inc. (NYSE:VEEV) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 969 shares of the technology company’s stock, valued at approximately $204,000.

A number of other hedge funds have also recently added to or reduced their stakes in VEEV. Massachusetts Financial Services Co. MA boosted its holdings in Veeva Systems by 64.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company’s stock worth $744,084,000 after purchasing an additional 1,392,256 shares during the period. Principal Financial Group Inc. boosted its holdings in Veeva Systems by 138.9% in 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. JPMorgan Chase & Co. boosted its holdings in Veeva Systems by 73.2% in the third quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company’s stock worth $536,972,000 after purchasing an additional 1,081,501 shares during the period. FMR LLC boosted its holdings in shares of Veeva Systems by 25.7% during the third quarter. FMR LLC now owns 2,981,244 shares of the technology company’s stock valued at $625,674,000 after acquiring an additional 610,021 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Veeva Systems during the fourth quarter valued at $95,710,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Price Performance

NYSE:VEEV opened at $231.30 on Wednesday. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93. The stock’s 50-day moving average is $225.89 and its two-hundred day moving average is $220.87. The stock has a market cap of $37.55 billion, a PE ratio of 57.11, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Barclays boosted their price target on shares of Veeva Systems from $260.00 to $275.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Wells Fargo & Company boosted their price target on shares of Veeva Systems from $275.00 to $285.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Truist Financial boosted their price target 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. Needham & Company LLC reissued a “buy” rating and set a $270.00 price target on shares of Veeva Systems in a report on Thursday, March 6th. Finally, Stephens reissued an “overweight” rating and set a $280.00 price target on shares of Veeva Systems in a report on Thursday, March 6th. 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $255.28.

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.