Sei Investments Co. Sells 202,123 Shares of Veeva Systems Inc. (NYSE:VEEV)

Sei Investments Co. cut its holdings in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 51.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 193,920 shares of the technology company's stock after selling 202,123 shares during the period. Sei Investments Co. owned approximately 0.12% of Veeva Systems worth $40,771,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of VEEV. Virtu Financial LLC bought a new stake in shares of Veeva Systems during the 4th quarter worth about $3,323,000. Quantbot Technologies LP grew its holdings in Veeva Systems by 269.9% during the fourth quarter. Quantbot Technologies LP now owns 10,805 shares of the technology company's stock valued at $2,272,000 after purchasing an additional 7,884 shares during the last quarter. Whittier Trust Co. grew its holdings in Veeva Systems by 407.0% during the fourth quarter. Whittier Trust Co. now owns 436 shares of the technology company's stock valued at $92,000 after purchasing an additional 350 shares during the last quarter. Blueshift Asset Management LLC bought a new position in shares of Veeva Systems in the fourth quarter valued at approximately $227,000. Finally, Teacher Retirement System of Texas lifted its stake in shares of Veeva Systems by 143.1% in the fourth quarter. Teacher Retirement System of Texas now owns 142,395 shares of the technology company's stock worth $29,939,000 after buying an additional 83,826 shares during the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Stock Up 0.6 %

NYSE:VEEV traded up $1.37 on Tuesday, reaching $240.41. The stock had a trading volume of 1,056,406 shares, compared to its average volume of 1,010,891. The company has a market capitalization of $39.03 billion, a P/E ratio of 59.36, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88. Veeva Systems Inc. has a 1-year low of $170.25 and a 1-year high of $258.93. The stock has a fifty day moving average price of $229.76 and a 200-day moving average price of $222.42.

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Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Truist Financial lifted their target price on shares of Veeva Systems from $210.00 to $217.00 and gave the stock a "hold" rating in a report on Thursday, March 6th. Robert W. Baird increased their target price on Veeva Systems from $283.00 to $285.00 and gave the company an "outperform" rating in a research note on Thursday, March 6th. Needham & Company LLC reaffirmed a "buy" rating and issued a $270.00 price target on shares of Veeva Systems in a research report on Thursday, March 6th. Citigroup increased their price objective on Veeva Systems from $281.00 to $307.00 and gave the company a "buy" rating in a research report on Monday, December 9th. Finally, Scotiabank boosted their target price on shares of Veeva Systems from $240.00 to $245.00 and gave the stock a "sector perform" rating in a research report on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Veeva Systems currently has a consensus rating of "Moderate Buy" and a consensus price target of $256.52.

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.