Swiss National Bank Sells 21,300 Shares of Veeva Systems Inc. (NYSE:VEEV)

Swiss National Bank trimmed its position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 4.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 434,500 shares of the technology company's stock after selling 21,300 shares during the quarter. Swiss National Bank owned 0.27% of Veeva Systems worth $91,354,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Cardinal Capital Management raised its position in Veeva Systems by 0.3% in the fourth quarter. Cardinal Capital Management now owns 15,727 shares of the technology company's stock worth $3,307,000 after acquiring an additional 44 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its holdings in Veeva Systems by 1.2% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,307 shares of the technology company's stock worth $904,000 after purchasing an additional 50 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings 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 during the period. Patriot Financial Group Insurance Agency LLC grew its holdings in Veeva Systems by 0.7% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 6,975 shares of the technology company's stock valued at $1,467,000 after purchasing an additional 51 shares during the period. Finally, CHICAGO TRUST Co NA increased its position in Veeva Systems by 2.9% in the fourth quarter. CHICAGO TRUST Co NA now owns 1,880 shares of the technology company's stock worth $395,000 after buying an additional 53 shares in the last quarter. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

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Veeva Systems Stock Performance

NYSE VEEV traded up $0.66 on Wednesday, hitting $237.09. 868,047 shares of the stock were exchanged, compared to its average volume of 1,005,517. The stock has a fifty day moving average price of $228.10 and a two-hundred day moving average price of $221.83. The firm has a market capitalization of $38.49 billion, a P/E ratio of 58.54, a P/E/G ratio of 1.89 and a beta of 0.88. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on VEEV shares. Stephens reiterated an "overweight" rating and set a $280.00 price objective on shares of Veeva Systems in a research note on Thursday, March 6th. Royal Bank of Canada increased their price objective on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an "outperform" rating in a research note on Friday, December 6th. Needham & Company LLC restated a "buy" rating and set a $270.00 target price on shares of Veeva Systems in a research note on Thursday, March 6th. Bank of America upped their target price on shares of Veeva Systems from $280.00 to $290.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. Finally, Wells Fargo & Company boosted their price objective on Veeva Systems from $275.00 to $285.00 and gave the company an "overweight" rating in a research report on Friday, December 6th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $255.28.

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.