Swiss National Bank Lowers Stake in Veeva Systems Inc. (NYSE:VEEV)

Swiss National Bank lessened its stake in Veeva Systems Inc. (NYSE:VEEV) by 4.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 434,500 shares of the technology company’s stock after selling 21,300 shares during the quarter. Swiss National Bank owned approximately 0.27% of Veeva Systems worth $91,354,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Veeva Systems in the fourth quarter worth $292,000. Farther Finance Advisors LLC lifted its holdings in shares of Veeva Systems by 4.3% in the fourth quarter. Farther Finance Advisors LLC now owns 3,355 shares of the technology company’s stock worth $705,000 after buying an additional 139 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Veeva Systems by 316.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,134 shares of the technology company’s stock worth $238,000 after buying an additional 862 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of Veeva Systems by 7.5% in the fourth quarter. Sequoia Financial Advisors LLC now owns 17,676 shares of the technology company’s stock worth $3,716,000 after buying an additional 1,227 shares in the last quarter. Finally, Wealthfront Advisers LLC lifted its holdings 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 worth $220,489,000 after buying an additional 1,045,188 shares in the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Wall Street Analyst Weigh In

VEEV has been the topic of several research analyst reports. Royal Bank of Canada boosted their target price on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Morgan Stanley boosted their price target on shares of Veeva Systems from $195.00 to $201.00 and gave the stock an “underweight” rating in a research report on Thursday, March 6th. Needham & Company LLC restated a “buy” rating and issued a $270.00 price target on shares of Veeva Systems in a research report on Thursday, March 6th. Piper Sandler boosted their price target on shares of Veeva Systems from $280.00 to $290.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Finally, Mizuho started 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 on the stock. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Veeva Systems currently has an average rating of “Moderate Buy” and a consensus price target of $255.28.

Veeva Systems Trading Up 2.6 %

NYSE VEEV opened at $233.84 on Friday. The company’s 50-day moving average price is $227.12 and its 200-day moving average price is $221.25. The stock has a market cap of $37.96 billion, a PE ratio of 57.74, a PEG ratio of 1.89 and a beta of 0.88. Veeva Systems Inc. has a 12 month low of $170.25 and a 12 month high of $258.93.

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.