Andra AP fonden Reduces Position in Veeva Systems Inc. (NYSE:VEEV)

Andra AP fonden trimmed its stake in Veeva Systems Inc. (NYSE:VEEV) by 42.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,100 shares of the technology company’s stock after selling 27,100 shares during the period. Andra AP fonden’s holdings in Veeva Systems were worth $7,800,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of VEEV. MassMutual Private Wealth & Trust FSB increased its position in 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 buying an additional 50 shares in the last quarter. Centricity Wealth Management LLC bought a new position in shares of Veeva Systems during the 4th quarter valued at approximately $25,000. Smithfield Trust Co increased its holdings 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 acquiring an additional 80 shares in the last quarter. True Wealth Design LLC raised its stake 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 worth $29,000 after acquiring an additional 135 shares during the period. Finally, Retirement Wealth Solutions LLC purchased a new position in Veeva Systems during the fourth quarter valued at approximately $31,000. 88.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on VEEV shares. JPMorgan Chase & Co. raised their price objective on shares of Veeva Systems from $208.00 to $218.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. Scotiabank raised 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. Morgan Stanley upped their price objective on Veeva Systems from $195.00 to $201.00 and gave the stock an “underweight” rating in a research note on Thursday. Stephens reissued an “overweight” rating and set a $280.00 target price on shares of Veeva Systems in a research note on Thursday. Finally, Wells Fargo & Company upped their price target on Veeva Systems from $275.00 to $285.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Two 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.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $255.28.

Veeva Systems Stock Performance

NYSE VEEV opened at $247.10 on Friday. The company has a market cap of $40.12 billion, a P/E ratio of 61.01, a P/E/G ratio of 1.89 and a beta of 0.88. The business’s 50 day moving average price is $224.92 and its 200-day moving average price is $220.21. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93.

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.