Edmond DE Rothschild Holding S.A. Lowers Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Edmond DE Rothschild Holding S.A. cut its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 28.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 439,046 shares of the technology company’s stock after selling 173,957 shares during the quarter. Veeva Systems makes up approximately 1.6% of Edmond DE Rothschild Holding S.A.’s holdings, making the stock its 11th biggest holding. Edmond DE Rothschild Holding S.A. owned about 0.27% of Veeva Systems worth $92,309,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of VEEV. O Shaughnessy Asset Management LLC raised its position in Veeva Systems by 23.5% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 8,079 shares of the technology company’s stock valued at $1,699,000 after purchasing an additional 1,537 shares in the last quarter. Martin Currie Ltd. raised its holdings in shares of Veeva Systems by 0.4% in the fourth quarter. Martin Currie Ltd. now owns 246,528 shares of the technology company’s stock valued at $51,833,000 after acquiring an additional 1,029 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Veeva Systems in the fourth quarter worth about $21,013,000. Allstate Corp bought a new position in Veeva Systems during the 4th quarter worth about $944,000. Finally, DnB Asset Management AS increased its position in Veeva Systems by 7.4% during the 4th quarter. DnB Asset Management AS now owns 27,652 shares of the technology company’s stock valued at $5,814,000 after purchasing an additional 1,915 shares during the period. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Price Performance

VEEV stock opened at $234.10 on Monday. The company has a market capitalization of $38.01 billion, a P/E ratio of 57.80, a price-to-earnings-growth 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. The firm’s fifty day simple moving average is $231.62 and its 200-day simple moving average is $222.87.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on VEEV shares. Royal Bank of Canada increased their price objective on shares of Veeva Systems from $275.00 to $285.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Canaccord Genuity Group lifted their price target on Veeva Systems from $210.00 to $270.00 and gave the company a “hold” rating in a report on Friday, December 6th. Stifel Nicolaus upped their price objective on Veeva Systems from $240.00 to $272.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Morgan Stanley lifted their target price on Veeva Systems from $195.00 to $201.00 and gave the company an “underweight” rating in a research note on Thursday, March 6th. Finally, Mizuho assumed coverage on shares of Veeva Systems in a research report on Wednesday, December 4th. They set an “outperform” rating and a $275.00 price target for the company. 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 company. According to MarketBeat.com, Veeva Systems presently has an average rating of “Moderate Buy” and an average 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.