Brown Brothers Harriman & Co. Trims Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Brown Brothers Harriman & Co. decreased its position in Veeva Systems Inc. (NYSE:VEEV) by 12.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 545 shares of the technology company’s stock after selling 76 shares during the period. Brown Brothers Harriman & Co.’s holdings in Veeva Systems were worth $115,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of VEEV. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Veeva Systems by 72.5% in 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 during the period. Centricity Wealth Management LLC bought a new stake in shares of Veeva Systems in the fourth quarter valued at about $25,000. Smithfield Trust Co lifted its stake in Veeva Systems by 145.5% in the fourth quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock worth $27,000 after acquiring an additional 80 shares during the period. True Wealth Design LLC grew its holdings in Veeva Systems by 3,375.0% during the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock worth $29,000 after acquiring an additional 135 shares in the last quarter. Finally, Retirement Wealth Solutions LLC purchased a new position in Veeva Systems during the 4th quarter valued at about $31,000. Institutional investors own 88.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. KeyCorp lowered their price target on shares of Veeva Systems from $285.00 to $255.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. StockNews.com upgraded Veeva Systems from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Bank of America lifted their price target on Veeva Systems from $280.00 to $290.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Morgan Stanley upped their price objective on Veeva Systems from $195.00 to $201.00 and gave the stock an “underweight” rating in a research note on Thursday, March 6th. Finally, Barclays lifted their target price on Veeva Systems from $260.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $256.52.

Veeva Systems Stock Performance

NYSE:VEEV opened at $227.74 on Wednesday. The firm’s fifty day moving average is $232.01 and its two-hundred day moving average is $223.02. The firm has a market cap of $37.05 billion, a price-to-earnings ratio of 56.23, a PEG ratio of 1.89 and a beta of 0.88. Veeva Systems Inc. has a one year low of $170.25 and a one year 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.