Pictet Asset Management Holding SA Sells 19,362 Shares of Veeva Systems Inc. (NYSE:VEEV)

Pictet Asset Management Holding SA trimmed its position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 1.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,362,120 shares of the technology company's stock after selling 19,362 shares during the period. Pictet Asset Management Holding SA owned about 0.84% of Veeva Systems worth $286,386,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of VEEV. Boussard & Gavaudan Investment Management LLP acquired a new stake in shares of Veeva Systems during the 4th quarter valued at about $908,000. Norges Bank bought a new stake in Veeva Systems in the fourth quarter worth approximately $294,785,000. Blair William & Co. IL increased its stake in shares of Veeva Systems by 0.3% during the 4th quarter. Blair William & Co. IL now owns 1,216,231 shares of the technology company's stock worth $255,713,000 after purchasing an additional 3,608 shares during the last quarter. Sava Infond d.o.o. bought a new position in shares of Veeva Systems during the 4th quarter valued at $1,074,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Veeva Systems by 17.5% during the 4th quarter. JPMorgan Chase & Co. now owns 3,005,633 shares of the technology company's stock valued at $631,935,000 after purchasing an additional 447,041 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company's stock.

Veeva Systems Stock Down 2.1 %

Veeva Systems stock traded down $4.81 on Tuesday, hitting $226.82. The company's stock had a trading volume of 922,105 shares, compared to its average volume of 1,157,160. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93. The firm has a market cap of $36.90 billion, a P/E ratio of 56.00, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88. The company has a fifty day moving average price of $231.92 and a 200-day moving average price of $222.95.

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Analyst Ratings Changes

A number of brokerages recently issued reports on VEEV. The Goldman Sachs Group cut shares of Veeva Systems from a "buy" rating to a "sell" rating and decreased their price objective for the stock from $261.00 to $200.00 in a report on Thursday, January 23rd. Needham & Company LLC reiterated a "buy" rating and set a $270.00 price target on shares of Veeva Systems in a research note on Thursday, March 6th. JPMorgan Chase & Co. raised their price objective on Veeva Systems from $218.00 to $249.00 and gave the company a "neutral" rating in a research note on Thursday, March 20th. Mizuho began coverage on Veeva Systems in a report on Wednesday, December 4th. They issued an "outperform" rating and a $275.00 target price for the company. Finally, Scotiabank increased their price target on Veeva Systems from $240.00 to $245.00 and gave the company a "sector perform" rating in a 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 assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $256.52.

Veeva Systems Company 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.