CIBC Private Wealth Group LLC Has $58.64 Million Stock Position in Veeva Systems Inc. (NYSE:VEEV)

CIBC Private Wealth Group LLC lessened its holdings in Veeva Systems Inc. (NYSE:VEEV) by 2.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 269,860 shares of the technology company’s stock after selling 7,275 shares during the period. CIBC Private Wealth Group LLC owned about 0.17% of Veeva Systems worth $58,641,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB lifted its position in shares of Veeva Systems by 72.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock worth $25,000 after buying an additional 50 shares in the last quarter. Centricity Wealth Management LLC purchased a new stake in Veeva Systems during the fourth quarter valued at about $25,000. Smithfield Trust Co grew its stake in shares of Veeva Systems by 145.5% during the fourth quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock valued at $27,000 after buying an additional 80 shares during the last quarter. True Wealth Design LLC increased its holdings in shares of Veeva Systems by 3,375.0% in the third quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock worth $29,000 after buying an additional 135 shares during the period. Finally, Retirement Wealth Solutions LLC bought a new stake in shares of Veeva Systems in the 4th quarter valued at about $31,000. Institutional investors own 88.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. The Goldman Sachs Group cut Veeva Systems from a “buy” rating to a “sell” rating and decreased their price target for the stock from $261.00 to $200.00 in a research note on Thursday, January 23rd. Stephens reaffirmed an “overweight” rating and issued a $280.00 target price on shares of Veeva Systems in a research note on Thursday, March 6th. Citigroup increased their price target on shares of Veeva Systems from $281.00 to $307.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Piper Sandler boosted their price objective on shares of Veeva Systems from $280.00 to $290.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Finally, Robert W. Baird upped their price objective on shares of Veeva Systems from $283.00 to $285.00 and gave the company an “outperform” rating in a research note 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $256.52.

Veeva Systems Trading Down 1.4 %

Shares of VEEV stock opened at $234.10 on Monday. The company’s fifty day moving average price is $231.62 and its 200-day moving average price is $222.87. The stock has a market cap of $38.01 billion, a PE ratio of 57.80, a price-to-earnings-growth 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.

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.