EFG Asset Management North America Corp. Reduces Stock Position in Veeva Systems Inc. (NYSE:VEEV)

EFG Asset Management North America Corp. lowered its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 4.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,576 shares of the technology company's stock after selling 1,690 shares during the quarter. Veeva Systems accounts for about 1.0% of EFG Asset Management North America Corp.'s holdings, making the stock its 15th largest position. EFG Asset Management North America Corp.'s holdings in Veeva Systems were worth $7,269,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Toronto Dominion Bank increased its holdings in shares of Veeva Systems by 39.1% during the third quarter. Toronto Dominion Bank now owns 20,180 shares of the technology company's stock worth $4,235,000 after buying an additional 5,673 shares in the last quarter. Principal Financial Group Inc. lifted its holdings 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 acquiring an additional 1,267,061 shares in the last quarter. Smith Group Asset Management LLC increased its holdings in Veeva Systems by 2.2% during the 4th quarter. Smith Group Asset Management LLC now owns 82,567 shares of the technology company's stock worth $17,360,000 after purchasing an additional 1,749 shares in the last quarter. Everence Capital Management Inc. bought a new position in Veeva Systems in the fourth quarter valued at $816,000. Finally, Venturi Wealth Management LLC lifted its stake in Veeva Systems by 2,716.7% in the fourth quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company's stock valued at $36,000 after acquiring an additional 163 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

Several research analysts have weighed in on VEEV shares. Royal Bank of Canada raised their price objective on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an "outperform" rating in a research report on Friday, December 6th. Wells Fargo & Company lifted their target price on Veeva Systems from $275.00 to $285.00 and gave the stock an "overweight" rating in a report on Friday, December 6th. Citigroup lifted their price objective on shares of Veeva Systems from $281.00 to $307.00 and gave the stock a "buy" rating in a research note on Monday, December 9th. Bank of America lifted their price target on shares of Veeva Systems from $280.00 to $290.00 and gave the company a "neutral" rating in a research report on Friday, December 6th. Finally, StockNews.com raised shares of Veeva Systems from a "hold" rating to a "buy" rating in a research report on Monday, February 17th. Two equities research 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. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $256.52.

Veeva Systems Stock Performance

Shares of Veeva Systems stock traded down $3.38 during mid-day trading on Friday, hitting $234.10. 947,518 shares of the stock were exchanged, compared to its average volume of 1,037,921. The company has a market capitalization of $38.01 billion, a P/E ratio of 57.80, a P/E/G ratio of 1.89 and a beta of 0.88. The company has a 50-day simple moving average of $231.62 and a 200 day simple moving average of $222.87. Veeva Systems Inc. has a 12 month low of $170.25 and a 12 month high of $258.93.

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.