Montanaro Asset Management Ltd Sells 18,100 Shares of Veeva Systems Inc. (NYSE:VEEV)

Montanaro Asset Management Ltd lessened its stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 22.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 62,150 shares of the technology company's stock after selling 18,100 shares during the period. Veeva Systems comprises about 2.7% of Montanaro Asset Management Ltd's portfolio, making the stock its 15th largest holding. Montanaro Asset Management Ltd's holdings in Veeva Systems were worth $13,067,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. MassMutual Private Wealth & Trust FSB boosted its position in Veeva Systems by 72.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company's stock worth $25,000 after acquiring an additional 50 shares during the period. Centricity Wealth Management LLC purchased a new position in Veeva Systems during the fourth quarter valued at approximately $25,000. Smithfield Trust Co increased its stake in 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 buying an additional 80 shares during the period. True Wealth Design LLC increased its stake in Veeva Systems by 3,375.0% in the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company's stock valued at $29,000 after buying an additional 135 shares during the period. Finally, Avion Wealth lifted its position in Veeva Systems by 635.0% in the 4th quarter. Avion Wealth now owns 147 shares of the technology company's stock worth $30,000 after buying an additional 127 shares in the last quarter. 88.20% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Stephens reaffirmed an "overweight" rating and issued a $280.00 price target on shares of Veeva Systems in a research note on Thursday, March 6th. Evercore ISI upped their target price on Veeva Systems from $220.00 to $245.00 and gave the stock an "in-line" rating in a research report on Friday, December 6th. Needham & Company LLC reiterated a "buy" rating and set a $270.00 price target on shares of Veeva Systems in a report on Thursday, March 6th. Morgan Stanley increased their price objective on Veeva Systems from $195.00 to $201.00 and gave the stock an "underweight" rating in a report on Thursday, March 6th. Finally, Robert W. Baird lifted their target price on shares of Veeva Systems from $283.00 to $285.00 and gave the company an "outperform" rating in a research note 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 given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $256.52.

Veeva Systems Stock Performance

Shares of VEEV stock traded down $3.30 during trading hours on Monday, hitting $230.91. The company had a trading volume of 371,781 shares, compared to its average volume of 1,145,813. The firm has a market capitalization of $37.49 billion, a price-to-earnings ratio of 57.01, a PEG ratio of 1.89 and a beta of 0.88. Veeva Systems Inc. has a 12 month low of $170.25 and a 12 month high of $258.93. The firm's fifty day moving average is $231.62 and its 200 day moving average is $222.87.

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.