Charles Schwab Investment Management Inc. Has $142.47 Million Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Charles Schwab Investment Management Inc. reduced its position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 0.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 677,626 shares of the technology company's stock after selling 4,181 shares during the period. Charles Schwab Investment Management Inc. owned 0.42% of Veeva Systems worth $142,471,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. QRG Capital Management Inc. raised its stake in Veeva Systems by 7.1% during the 3rd quarter. QRG Capital Management Inc. now owns 9,987 shares of the technology company's stock valued at $2,096,000 after purchasing an additional 664 shares during the last quarter. Radnor Capital Management LLC acquired a new position in shares of Veeva Systems during the third quarter valued at about $374,000. Concurrent Investment Advisors LLC bought a new stake in shares of Veeva Systems in the third quarter valued at about $245,000. Principal Financial Group Inc. grew its position in Veeva Systems by 138.9% during the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company's stock worth $457,366,000 after buying an additional 1,267,061 shares in the last quarter. Finally, Summit Global Investments bought a new position in Veeva Systems during the third quarter valued at about $5,593,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Stock Performance

VEEV traded down $8.35 during mid-day trading on Tuesday, reaching $231.30. The stock had a trading volume of 2,191,496 shares, compared to its average volume of 1,203,856. The stock has a market capitalization of $37.55 billion, a P/E ratio of 57.11, a P/E/G ratio of 1.89 and a beta of 0.88. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93. The firm's fifty day simple moving average is $225.47 and its two-hundred day simple moving average is $220.64.

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Analyst Ratings Changes

A number of analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on Veeva Systems from $208.00 to $218.00 and gave the stock a "neutral" rating in a research report on Monday, December 16th. Stifel Nicolaus lifted their price target on shares of Veeva Systems from $240.00 to $272.00 and gave the stock a "buy" rating in a research note on Friday, December 6th. Bank of America increased their price objective on shares of Veeva Systems from $280.00 to $290.00 and gave the company a "neutral" rating in a research note on Friday, December 6th. Canaccord Genuity Group raised their price objective on shares of Veeva Systems from $210.00 to $270.00 and gave the stock a "hold" rating in a report on Friday, December 6th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $270.00 target price on shares of Veeva Systems in a research note on Thursday, March 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $255.28.

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.