Achmea Investment Management B.V. Cuts Stake in Veeva Systems Inc. (NYSE:VEEV)

Achmea Investment Management B.V. lowered its stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 42.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,747 shares of the technology company's stock after selling 7,771 shares during the quarter. Achmea Investment Management B.V.'s holdings in Veeva Systems were worth $2,259,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. ANTIPODES PARTNERS Ltd raised its position in shares of Veeva Systems by 115.1% during the 4th quarter. ANTIPODES PARTNERS Ltd now owns 1,198 shares of the technology company's stock valued at $252,000 after purchasing an additional 641 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Veeva Systems in the 4th quarter worth $292,000. Farther Finance Advisors LLC raised its holdings in Veeva Systems by 4.3% during the fourth quarter. Farther Finance Advisors LLC now owns 3,355 shares of the technology company's stock valued at $705,000 after acquiring an additional 139 shares during the period. EverSource Wealth Advisors LLC lifted its position 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 valued at $238,000 after acquiring an additional 862 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its stake 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 acquiring an additional 1,227 shares during the period. 88.20% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

VEEV has been the topic of several recent analyst reports. Morgan Stanley lifted their target price on Veeva Systems from $195.00 to $201.00 and gave the company an "underweight" rating in a research note on Thursday, March 6th. The Goldman Sachs Group downgraded shares of Veeva Systems from a "buy" rating to a "sell" rating and lowered their target price for the stock from $261.00 to $200.00 in a report on Thursday, January 23rd. Needham & Company LLC reaffirmed a "buy" rating and set a $270.00 target price on shares of Veeva Systems in a research note on Thursday, March 6th. Wells Fargo & Company boosted their price target on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an "overweight" rating in a research note on Friday, December 6th. Finally, Citigroup raised their price objective on Veeva Systems from $281.00 to $307.00 and gave the company a "buy" rating in a research report on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $255.28.

Veeva Systems Stock Performance

VEEV stock traded up $0.66 during midday trading on Wednesday, reaching $237.09. The company's stock had a trading volume of 868,047 shares, compared to its average volume of 1,187,476. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93. The firm has a market capitalization of $38.49 billion, a price-to-earnings ratio of 58.54, a PEG ratio of 1.89 and a beta of 0.88. The stock has a fifty day simple moving average of $228.10 and a two-hundred day simple moving average of $221.83.

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.