Veeva Systems Inc. (NYSE:VEEV) Stake Trimmed by Candriam S.C.A.

Candriam S.C.A. lowered its stake in Veeva Systems Inc. (NYSE:VEEV) by 0.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 301,970 shares of the technology company’s stock after selling 299 shares during the quarter. Candriam S.C.A. owned approximately 0.19% of Veeva Systems worth $63,489,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. MassMutual Private Wealth & Trust FSB boosted its position in Veeva Systems by 72.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock worth $25,000 after acquiring an additional 50 shares during the period. Centricity Wealth Management LLC acquired a new stake in shares of Veeva Systems during the 4th quarter valued at about $25,000. Smithfield Trust Co lifted its holdings in shares of Veeva Systems by 145.5% during the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock valued at $27,000 after buying an additional 80 shares during the last quarter. True Wealth Design LLC lifted its holdings in shares of Veeva Systems by 3,375.0% during the 3rd 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 during the last quarter. Finally, Avion Wealth lifted its holdings in shares of Veeva Systems by 635.0% during the 4th quarter. Avion Wealth now owns 147 shares of the technology company’s stock valued at $30,000 after buying an additional 127 shares during the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Trading Up 0.9 %

VEEV opened at $220.32 on Thursday. The stock has a market cap of $35.77 billion, a PE ratio of 54.40, a P/E/G ratio of 1.89 and a beta of 0.85. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93. The stock’s 50 day simple moving average is $223.82 and its 200-day simple moving average is $219.54.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on VEEV shares. Mizuho started coverage on Veeva Systems in a report on Wednesday, December 4th. They set an “outperform” rating and a $275.00 price target for the company. KeyCorp reduced their price target on Veeva Systems from $285.00 to $255.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Scotiabank raised their price objective on Veeva Systems from $235.00 to $240.00 and gave the company a “sector perform” rating in a research note on Friday, December 6th. Wells Fargo & Company raised their price objective on Veeva Systems from $275.00 to $285.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Finally, Bank of America raised their price objective on Veeva Systems from $280.00 to $290.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $254.48.

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.