AlphaQuest LLC Sells 2,200 Shares of Veeva Systems Inc. (NYSE:VEEV)

AlphaQuest LLC trimmed its position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 52.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,972 shares of the technology company's stock after selling 2,200 shares during the quarter. AlphaQuest LLC's holdings in Veeva Systems were worth $415,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB increased its holdings in 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 purchasing an additional 50 shares in the last quarter. Centricity Wealth Management LLC bought a new position in Veeva Systems during the 4th quarter valued at $25,000. Smithfield Trust Co boosted its holdings in Veeva Systems by 145.5% during the 4th 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 last quarter. True Wealth Design LLC grew its stake in shares of Veeva Systems by 3,375.0% in 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 fourth quarter worth about $31,000. 88.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on VEEV shares. Mizuho began coverage on shares of Veeva Systems in a research note on Wednesday, December 4th. They issued an "outperform" rating and a $275.00 price objective for the company. Evercore ISI increased their price target on Veeva Systems from $220.00 to $245.00 and gave the company an "in-line" rating in a research report on Friday, December 6th. The Goldman Sachs Group cut Veeva Systems from a "buy" rating to a "sell" rating and cut their price objective for the stock from $261.00 to $200.00 in a research report on Thursday, January 23rd. StockNews.com raised Veeva Systems from a "hold" rating to a "buy" rating in a research report on Monday, February 17th. Finally, Bank of America boosted their price target on shares of Veeva Systems from $280.00 to $290.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Veeva Systems has a consensus rating of "Moderate Buy" and a consensus price target of $255.28.

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Veeva Systems Trading Up 1.2 %

Shares of VEEV stock traded up $2.87 during trading hours on Monday, reaching $236.93. The stock had a trading volume of 891,807 shares, compared to its average volume of 1,006,276. The stock's fifty day simple moving average is $227.12 and its 200 day simple moving average is $221.55. The firm has a market capitalization of $38.47 billion, a PE ratio of 58.50, a PEG 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.

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.