Edmond DE Rothschild Holding S.A. Sells 173,957 Shares of Veeva Systems Inc. (NYSE:VEEV)

Edmond DE Rothschild Holding S.A. lowered its stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 28.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 439,046 shares of the technology company's stock after selling 173,957 shares during the quarter. Veeva Systems comprises about 1.6% of Edmond DE Rothschild Holding S.A.'s portfolio, making the stock its 11th biggest holding. Edmond DE Rothschild Holding S.A. owned about 0.27% of Veeva Systems worth $92,309,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in the stock. State Street Corp lifted its holdings in shares of Veeva Systems by 1.5% in the 3rd quarter. State Street Corp now owns 3,293,141 shares of the technology company's stock valued at $691,132,000 after purchasing an additional 47,872 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Veeva Systems by 17.5% in the fourth quarter. JPMorgan Chase & Co. now owns 3,005,633 shares of the technology company's stock valued at $631,935,000 after acquiring an additional 447,041 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Veeva Systems by 36.0% during the fourth quarter. Principal Financial Group Inc. now owns 2,964,025 shares of the technology company's stock worth $623,186,000 after acquiring an additional 784,741 shares during the period. Geode Capital Management LLC raised its holdings in Veeva Systems by 5.7% during the third quarter. Geode Capital Management LLC now owns 2,765,236 shares of the technology company's stock worth $579,630,000 after purchasing an additional 149,807 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in Veeva Systems by 6.8% in the fourth quarter. Van ECK Associates Corp now owns 2,130,498 shares of the technology company's stock valued at $447,937,000 after acquiring an additional 135,492 shares during the period. 88.20% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

A number of research firms recently commented on VEEV. Canaccord Genuity Group boosted 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. Wells Fargo & Company upped their target price on shares of Veeva Systems from $275.00 to $285.00 and gave the company an "overweight" rating in a report on Friday, December 6th. Truist Financial boosted their price objective on shares of Veeva Systems from $210.00 to $217.00 and gave the company a "hold" rating in a research report on Thursday, March 6th. Needham & Company LLC reaffirmed a "buy" rating and issued a $270.00 target price on shares of Veeva Systems in a research note on Thursday, March 6th. Finally, Stephens restated an "overweight" rating and set a $280.00 price objective on shares of Veeva Systems in a report on Thursday, March 6th. Two equities 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 stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $256.52.

Insider Transactions at Veeva Systems

In related news, SVP Jonathan Faddis sold 787 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total value of $178,019.40. Following the transaction, the senior vice president now directly owns 8,668 shares of the company's stock, valued at approximately $1,960,701.60. This trade represents a 8.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 10.50% of the company's stock.

Veeva Systems Trading Down 3.5 %

NYSE:VEEV traded down $7.65 on Friday, hitting $213.84. 677,301 shares of the company's stock traded hands, compared to its average volume of 1,181,320. The company has a market cap of $34.79 billion, a PE ratio of 52.80, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88. The firm has a 50-day moving average price of $231.93 and a 200-day moving average price of $223.03. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 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.