Boussard & Gavaudan Investment Management LLP Acquires New Position in Veeva Systems Inc. (NYSE:VEEV)

Boussard & Gavaudan Investment Management LLP bought a new position in shares of Veeva Systems Inc. (NYSE:VEEV) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 4,293 shares of the technology company’s stock, valued at approximately $908,000.

Several other large investors have also recently modified their holdings of VEEV. Toronto Dominion Bank lifted its holdings in Veeva Systems by 39.1% during the 3rd quarter. Toronto Dominion Bank now owns 20,180 shares of the technology company’s stock worth $4,235,000 after purchasing an additional 5,673 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of 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 buying an additional 1,267,061 shares in the last quarter. Smith Group Asset Management LLC boosted its position in shares of 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 during the period. Everence Capital Management Inc. purchased a new position in Veeva Systems during the fourth quarter valued at approximately $816,000. Finally, Venturi Wealth Management LLC increased 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 during the period. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Barclays raised 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. Stifel Nicolaus boosted their target price on Veeva Systems from $240.00 to $272.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. StockNews.com upgraded Veeva Systems from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Evercore ISI lifted their price target on Veeva Systems from $220.00 to $245.00 and gave the company an “in-line” rating in a research report on Friday, December 6th. Finally, Royal Bank of Canada upped their price objective on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $256.52.

Veeva Systems Stock Performance

NYSE:VEEV opened at $237.52 on Friday. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93. The firm has a market cap of $38.56 billion, a PE ratio of 58.65, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88. The business has a 50 day moving average price of $231.27 and a 200-day moving average price of $222.79.

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.