Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Ithaka Group LLC

Ithaka Group LLC decreased its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 6.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,504 shares of the technology company’s stock after selling 3,521 shares during the quarter. Veeva Systems makes up 2.1% of Ithaka Group LLC’s investment portfolio, making the stock its 18th biggest holding. Ithaka Group LLC’s holdings in Veeva Systems were worth $11,670,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of VEEV. Skandinaviska Enskilda Banken AB publ increased its position in shares of Veeva Systems by 14.1% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 236,757 shares of the technology company’s stock valued at $50,067,000 after purchasing an additional 29,338 shares during the last quarter. ANTIPODES PARTNERS Ltd raised its stake in Veeva Systems by 115.1% in the fourth quarter. ANTIPODES PARTNERS Ltd now owns 1,198 shares of the technology company’s stock valued at $252,000 after buying an additional 641 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Veeva Systems during the 4th quarter worth about $292,000. Farther Finance Advisors LLC increased its holdings in shares of Veeva Systems by 4.3% in the 4th quarter. Farther Finance Advisors LLC now owns 3,355 shares of the technology company’s stock valued at $705,000 after acquiring an additional 139 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Veeva Systems by 316.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,134 shares of the technology company’s stock valued at $238,000 after acquiring an additional 862 shares during the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on VEEV. The Goldman Sachs Group downgraded Veeva Systems from a “buy” rating to a “sell” rating and lowered their price target for the company from $261.00 to $200.00 in a report on Thursday, January 23rd. Wells Fargo & Company upped their target price on shares of Veeva Systems from $275.00 to $285.00 and gave the company 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 target for the company. KeyCorp dropped their price objective on Veeva Systems from $285.00 to $255.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Finally, Truist Financial boosted their target price on Veeva Systems from $210.00 to $217.00 and gave the company a “hold” rating in a report on Thursday, March 6th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $255.28.

Veeva Systems Stock Up 0.7 %

Veeva Systems stock opened at $233.34 on Thursday. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93. The firm has a fifty day moving average of $226.36 and a 200-day moving average of $220.96. The firm has a market capitalization of $37.88 billion, a P/E ratio of 57.62, a PEG ratio of 1.89 and a beta of 0.88.

Veeva Systems 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.