American Century Companies Inc. Sells 96,010 Shares of Veeva Systems Inc. (NYSE:VEEV)

American Century Companies Inc. reduced its stake in Veeva Systems Inc. (NYSE:VEEV) by 18.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 421,270 shares of the technology company’s stock after selling 96,010 shares during the period. American Century Companies Inc. owned 0.26% of Veeva Systems worth $88,572,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in VEEV. Virtu Financial LLC bought a new position in Veeva Systems during the fourth quarter worth about $3,323,000. Quantbot Technologies LP raised its position in shares of Veeva Systems by 269.9% in the 4th quarter. Quantbot Technologies LP now owns 10,805 shares of the technology company’s stock valued at $2,272,000 after acquiring an additional 7,884 shares during the period. Whittier Trust Co. boosted its stake in Veeva Systems by 407.0% during the 4th quarter. Whittier Trust Co. now owns 436 shares of the technology company’s stock worth $92,000 after acquiring an additional 350 shares during the last quarter. Blueshift Asset Management LLC acquired a new position in Veeva Systems during the fourth quarter valued at approximately $227,000. Finally, Teacher Retirement System of Texas grew its holdings in Veeva Systems by 143.1% during the fourth quarter. Teacher Retirement System of Texas now owns 142,395 shares of the technology company’s stock valued at $29,939,000 after purchasing an additional 83,826 shares during the period. 88.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

VEEV has been the topic of a number of recent analyst reports. Royal Bank of Canada lifted their price target on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Robert W. Baird lifted their target price on Veeva Systems from $283.00 to $285.00 and gave the stock an “outperform” rating in a report on Thursday, March 6th. Truist Financial increased their price target on Veeva Systems from $210.00 to $217.00 and gave the stock a “hold” rating in a report on Thursday, March 6th. Evercore ISI lifted their price objective on Veeva Systems from $220.00 to $245.00 and gave the company an “in-line” rating in a report on Friday, December 6th. Finally, Morgan Stanley boosted 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. Two research 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. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $256.52.

Veeva Systems Stock Up 1.0 %

Shares of Veeva Systems stock opened at $239.06 on Tuesday. Veeva Systems Inc. has a 12-month low of $170.25 and a 12-month high of $258.93. The business’s 50 day moving average is $229.76 and its 200-day moving average is $222.42. The stock has a market cap of $38.81 billion, a P/E ratio of 59.03, a P/E/G ratio of 1.89 and a beta of 0.88.

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.