Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lowered its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 1.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,362,120 shares of the technology company’s stock after selling 19,362 shares during the quarter. Pictet Asset Management Holding SA owned about 0.84% of Veeva Systems worth $286,386,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of VEEV. MassMutual Private Wealth & Trust FSB increased its position in shares of Veeva Systems by 72.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock worth $25,000 after acquiring an additional 50 shares in the last quarter. Centricity Wealth Management LLC purchased a new stake in Veeva Systems during the 4th quarter worth $25,000. Smithfield Trust Co increased its holdings in Veeva Systems by 145.5% in the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock valued at $27,000 after purchasing an additional 80 shares in the last quarter. True Wealth Design LLC raised its position in Veeva Systems by 3,375.0% in the third quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock valued at $29,000 after purchasing an additional 135 shares during the period. Finally, Avion Wealth lifted its stake in shares of Veeva Systems by 635.0% during the fourth quarter. Avion Wealth now owns 147 shares of the technology company’s stock worth $30,000 after purchasing an additional 127 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Analyst Upgrades and Downgrades

VEEV has been the subject of a number of recent research reports. KeyCorp lowered their target price on Veeva Systems from $285.00 to $255.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Stephens reaffirmed an “overweight” rating and issued a $280.00 price objective on shares of Veeva Systems in a research report on Thursday, March 6th. Piper Sandler boosted their target price 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. Scotiabank raised their price target on shares of Veeva Systems from $240.00 to $245.00 and gave the company a “sector perform” rating in a report on Thursday, March 6th. Finally, Morgan Stanley boosted their price objective on shares of Veeva Systems from $195.00 to $201.00 and gave the stock an “underweight” rating in a 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $256.52.

Veeva Systems Stock Up 0.8 %

Shares of NYSE VEEV opened at $237.52 on Friday. The firm’s 50-day moving average price is $231.27 and its two-hundred day moving average price is $222.79. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93. The stock has a market capitalization of $38.56 billion, a P/E ratio of 58.65, a P/E/G ratio of 1.89 and a beta of 0.88.

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.