Sei Investments Co. Reduces Holdings in Veeva Systems Inc. (NYSE:VEEV)

Sei Investments Co. lowered its position in Veeva Systems Inc. (NYSE:VEEV) by 51.0% in the 4th quarter, HoldingsChannel reports. The fund owned 193,920 shares of the technology company’s stock after selling 202,123 shares during the period. Sei Investments Co.’s holdings in Veeva Systems were worth $40,771,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in VEEV. Principal Financial Group Inc. raised 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 purchasing an additional 1,267,061 shares during the period. JPMorgan Chase & Co. raised its holdings in Veeva Systems by 73.2% during the 3rd 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 during the period. Wealthfront Advisers LLC lifted its position in shares of Veeva Systems by 29,760.5% during the fourth quarter. Wealthfront Advisers LLC now owns 1,048,700 shares of the technology company’s stock worth $220,489,000 after acquiring an additional 1,045,188 shares in the last quarter. FMR LLC boosted 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 worth $625,674,000 after acquiring an additional 610,021 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of Veeva Systems in the fourth quarter valued at $95,710,000. 88.20% of the stock is currently owned by institutional investors.

Veeva Systems Stock Up 1.0 %

Shares of Veeva Systems stock opened at $239.06 on Tuesday. The company has a market cap of $38.81 billion, a PE ratio of 59.03, a P/E/G ratio of 1.89 and a beta of 0.88. The business has a 50 day moving average of $229.76 and a 200 day moving average of $222.42. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93.

Analyst Ratings Changes

VEEV has been the topic of a number of recent research reports. Barclays increased their price objective on Veeva Systems from $260.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Mizuho initiated coverage on shares of Veeva Systems in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $275.00 price objective for the company. Truist Financial upped their target price on shares of Veeva Systems from $210.00 to $217.00 and gave the stock a “hold” rating in a report on Thursday, March 6th. Piper Sandler raised their price target on shares of Veeva Systems from $280.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Finally, JPMorgan Chase & Co. upped their price target on shares of Veeva Systems from $218.00 to $249.00 and gave the stock a “neutral” rating in a report on Thursday, March 20th. Two equities 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 company’s stock. According to data from MarketBeat, Veeva Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $256.52.

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.