American Century Companies Inc. Sells 96,010 Shares of Veeva Systems Inc. (NYSE:VEEV)

American Century Companies Inc. decreased its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 18.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 421,270 shares of the technology company's stock after selling 96,010 shares during the period. American Century Companies Inc. owned about 0.26% of Veeva Systems worth $88,572,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB boosted its holdings in Veeva Systems by 72.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company's stock valued at $25,000 after acquiring an additional 50 shares in the last quarter. Centricity Wealth Management LLC bought a new position in shares of Veeva Systems in the 4th quarter worth approximately $25,000. Smithfield Trust Co lifted its stake in shares of 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 during the period. True Wealth Design LLC raised its holdings 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 worth $29,000 after purchasing an additional 135 shares in the last quarter. Finally, Retirement Wealth Solutions LLC bought a new position in Veeva Systems in the fourth quarter worth $31,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Stifel Nicolaus boosted their target price on Veeva Systems from $240.00 to $272.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Royal Bank of Canada raised their price objective on shares of Veeva Systems from $275.00 to $285.00 and gave the company an "outperform" rating in a research note on Friday, December 6th. Needham & Company LLC reiterated a "buy" rating and issued a $270.00 target price on shares of Veeva Systems in a research note on Thursday, March 6th. KeyCorp lowered their price target on Veeva Systems from $285.00 to $255.00 and set an "overweight" rating on the stock in a report on Wednesday, January 8th. Finally, Evercore ISI lifted their price objective on Veeva Systems from $220.00 to $245.00 and gave the stock an "in-line" rating in a report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $256.52.

Remove Ads

Veeva Systems Stock Up 0.6 %

VEEV traded up $1.37 on Tuesday, hitting $240.41. The company had a trading volume of 1,056,406 shares, compared to its average volume of 1,010,891. The business's fifty day simple moving average is $229.76 and its 200 day simple moving average is $222.42. Veeva Systems Inc. has a 12-month low of $170.25 and a 12-month high of $258.93. The company has a market cap of $39.03 billion, a PE ratio of 59.36, a PEG ratio of 1.89 and a beta of 0.88.

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.