Loomis Sayles & Co. L P Lowers Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Loomis Sayles & Co. L P cut its stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 5.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 255,674 shares of the technology company's stock after selling 15,450 shares during the period. Loomis Sayles & Co. L P owned about 0.16% of Veeva Systems worth $53,756,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB lifted its stake in Veeva Systems by 72.5% in 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 stake in shares of Veeva Systems in the fourth quarter worth about $25,000. Smithfield Trust Co lifted its position in shares of Veeva Systems by 145.5% in the fourth quarter. Smithfield Trust Co now owns 135 shares of the technology company's stock worth $27,000 after buying an additional 80 shares in the last quarter. True Wealth Design LLC lifted its position in shares of 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 buying an additional 135 shares in the last quarter. Finally, Avion Wealth boosted its stake in Veeva Systems by 635.0% during the fourth quarter. Avion Wealth now owns 147 shares of the technology company's stock valued at $30,000 after buying an additional 127 shares during the last quarter. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

A number of analysts have issued reports on the company. Truist Financial lifted their price objective on Veeva Systems from $210.00 to $217.00 and gave the stock a "hold" rating in a research note on Thursday, March 6th. Stephens reaffirmed an "overweight" rating and set a $280.00 price target on shares of Veeva Systems in a research note on Thursday, March 6th. Stifel Nicolaus lifted their price objective 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. Mizuho assumed coverage on shares of Veeva Systems in a report on Wednesday, December 4th. They issued an "outperform" rating and a $275.00 target price on the stock. Finally, Evercore ISI increased their price target on shares of Veeva Systems from $220.00 to $245.00 and gave the company an "in-line" rating in a report on Friday, December 6th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $256.52.

Veeva Systems Stock Performance

Shares of Veeva Systems stock traded down $4.41 during trading on Tuesday, hitting $227.22. 722,299 shares of the company's stock were exchanged, compared to its average volume of 1,038,157. The stock has a market capitalization of $36.97 billion, a price-to-earnings ratio of 55.94, a PEG ratio of 1.89 and a beta of 0.88. The business has a 50-day simple moving average of $231.92 and a 200-day simple moving average of $222.95. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week 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.