Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Tredje AP fonden

Tredje AP fonden decreased its position in Veeva Systems Inc. (NYSE:VEEV) by 8.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 111,546 shares of the technology company’s stock after selling 10,000 shares during the period. Tredje AP fonden owned about 0.07% of Veeva Systems worth $23,453,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of VEEV. Massachusetts Financial Services Co. MA grew 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 valued at $744,084,000 after purchasing an additional 1,392,256 shares during the last quarter. Principal Financial Group Inc. lifted its position 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 valued at $457,366,000 after acquiring an additional 1,267,061 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Veeva Systems by 73.2% in the third quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company’s stock valued at $536,972,000 after acquiring an additional 1,081,501 shares in the last quarter. Wealthfront Advisers LLC lifted its position in shares of Veeva Systems by 29,760.5% in the fourth quarter. Wealthfront Advisers LLC now owns 1,048,700 shares of the technology company’s stock valued at $220,489,000 after acquiring an additional 1,045,188 shares in the last quarter. Finally, FMR LLC lifted its position 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 acquiring an additional 610,021 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Stock Performance

VEEV stock opened at $233.34 on Thursday. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93. The firm has a market cap of $37.88 billion, a P/E ratio of 57.62, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88. The stock has a 50-day simple moving average of $226.36 and a 200-day simple moving average of $220.96.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Stifel Nicolaus upped their price objective on Veeva Systems from $240.00 to $272.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Citigroup upped their price objective on Veeva Systems from $281.00 to $307.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Mizuho assumed coverage on Veeva Systems in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $275.00 price objective on the stock. Morgan Stanley upped their price objective on Veeva Systems from $195.00 to $201.00 and gave the company an “underweight” rating in a research report on Thursday, March 6th. Finally, Robert W. Baird increased their target price on Veeva Systems from $283.00 to $285.00 and gave the stock an “outperform” rating in a research report on Thursday, March 6th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Veeva Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $255.28.

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.