Nikko Asset Management Americas Inc. lowered its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 22.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 21,886 shares of the technology company's stock after selling 6,193 shares during the period. Nikko Asset Management Americas Inc.'s holdings in Veeva Systems were worth $4,602,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of the business. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Veeva Systems by 72.5% in the fourth 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 in the 4th quarter worth approximately $25,000. Smithfield Trust Co boosted 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 worth $27,000 after purchasing an additional 80 shares during the period. True Wealth Design LLC grew its holdings in Veeva Systems by 3,375.0% during 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 in the last quarter. Finally, Retirement Wealth Solutions LLC purchased a new position in shares of Veeva Systems in the fourth quarter worth $31,000. Hedge funds and other institutional investors own 88.20% of the company's stock.
Veeva Systems Trading Up 0.5 %
Shares of VEEV traded up $1.13 during trading hours on Friday, reaching $236.98. 1,192,386 shares of the company traded hands, compared to its average volume of 1,008,032. The stock's fifty day moving average price is $228.86 and its 200 day moving average price is $222.03. The firm has a market cap of $38.47 billion, a price-to-earnings ratio of 58.51, 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.
Analyst Upgrades and Downgrades
A number of analysts have issued reports on the stock. Citigroup lifted their price target on shares of Veeva Systems from $281.00 to $307.00 and gave the company a "buy" rating in a report on Monday, December 9th. Scotiabank lifted their target price on Veeva Systems from $240.00 to $245.00 and gave the stock a "sector perform" rating in a report on Thursday, March 6th. Piper Sandler boosted their target price on Veeva Systems from $280.00 to $290.00 and gave the stock an "overweight" rating in a research report on Friday, December 6th. StockNews.com upgraded Veeva Systems from a "hold" rating to a "buy" rating in a report on Monday, February 17th. Finally, 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. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat, Veeva Systems has an average rating of "Moderate Buy" and a consensus price target of $256.52.
Read Our Latest Analysis on VEEV
Veeva Systems Profile
(
Free Report)
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.
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