Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Dana Investment Advisors Inc.

Dana Investment Advisors Inc. lessened its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 4.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,998 shares of the technology company’s stock after selling 142 shares during the period. Dana Investment Advisors Inc.’s holdings in Veeva Systems were worth $630,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA lifted its holdings in shares of 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 valued at $744,084,000 after purchasing an additional 1,392,256 shares in the last quarter. State Street Corp lifted its holdings in shares of Veeva Systems by 1.5% in the third quarter. State Street Corp now owns 3,293,141 shares of the technology company’s stock valued at $691,132,000 after purchasing an additional 47,872 shares in the last quarter. FMR LLC lifted its holdings in shares of Veeva Systems by 25.7% in the third quarter. FMR LLC now owns 2,981,244 shares of the technology company’s stock valued at $625,674,000 after purchasing an additional 610,021 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Veeva Systems by 36.0% in the fourth quarter. Principal Financial Group Inc. now owns 2,964,025 shares of the technology company’s stock valued at $623,186,000 after purchasing an additional 784,741 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Veeva Systems by 5.7% in the third quarter. Geode Capital Management LLC now owns 2,765,236 shares of the technology company’s stock valued at $579,630,000 after purchasing an additional 149,807 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on VEEV. Canaccord Genuity Group increased their target price on Veeva Systems from $210.00 to $270.00 and gave the company a “hold” rating in a report on Friday, December 6th. Stephens restated an “overweight” rating and issued a $280.00 target price on shares of Veeva Systems in a report on Thursday. JPMorgan Chase & Co. increased their target price on Veeva Systems from $208.00 to $218.00 and gave the company a “neutral” rating in a report on Monday, December 16th. Scotiabank increased their price objective on Veeva Systems from $240.00 to $245.00 and gave the stock a “sector perform” rating in a report on Thursday. Finally, KeyCorp cut their price objective on Veeva Systems from $285.00 to $255.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Two 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. Based on data from MarketBeat.com, Veeva Systems has a consensus rating of “Moderate Buy” and a consensus price target of $255.28.

Veeva Systems Price Performance

Veeva Systems stock opened at $247.10 on Friday. The company has a market capitalization of $40.12 billion, a price-to-earnings ratio of 61.01, a PEG ratio of 1.89 and a beta of 0.88. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93. The company’s fifty day moving average price is $224.92 and its two-hundred day moving average price is $220.21.

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.