EFG Asset Management North America Corp. Sells 1,690 Shares of Veeva Systems Inc. (NYSE:VEEV)

EFG Asset Management North America Corp. decreased its holdings in Veeva Systems Inc. (NYSE:VEEV) by 4.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 34,576 shares of the technology company’s stock after selling 1,690 shares during the quarter. Veeva Systems accounts for about 1.0% of EFG Asset Management North America Corp.’s holdings, making the stock its 15th biggest position. EFG Asset Management North America Corp.’s holdings in Veeva Systems were worth $7,269,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. State Street Corp boosted its holdings in shares of Veeva Systems by 1.5% during the 3rd quarter. State Street Corp now owns 3,293,141 shares of the technology company’s stock worth $691,132,000 after buying an additional 47,872 shares during the period. FMR LLC boosted its holdings in shares of Veeva Systems by 25.7% during the third quarter. FMR LLC now owns 2,981,244 shares of the technology company’s stock worth $625,674,000 after acquiring an additional 610,021 shares during the period. Principal Financial Group Inc. grew its position in shares of Veeva Systems by 36.0% in the fourth quarter. Principal Financial Group Inc. now owns 2,964,025 shares of the technology company’s stock valued at $623,186,000 after purchasing an additional 784,741 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Veeva Systems by 5.7% during the third quarter. Geode Capital Management LLC now owns 2,765,236 shares of the technology company’s stock worth $579,630,000 after purchasing an additional 149,807 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in Veeva Systems by 73.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company’s stock worth $536,972,000 after purchasing an additional 1,081,501 shares during the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Stock Performance

Shares of VEEV opened at $239.06 on Tuesday. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93. The stock has a market capitalization of $38.81 billion, a price-to-earnings ratio of 59.03, a PEG ratio of 1.89 and a beta of 0.88. The stock has a fifty day moving average of $229.76 and a 200-day moving average of $222.42.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Morgan Stanley upped their price objective on Veeva Systems from $195.00 to $201.00 and gave the company an “underweight” rating in a report on Thursday, March 6th. Robert W. Baird raised their price target on shares of Veeva Systems from $283.00 to $285.00 and gave the stock an “outperform” rating in a research report on Thursday, March 6th. Truist Financial boosted their price objective on shares of Veeva Systems from $210.00 to $217.00 and gave the company a “hold” rating in a report on Thursday, March 6th. JPMorgan Chase & Co. raised their target price on shares of Veeva Systems from $218.00 to $249.00 and gave the stock a “neutral” rating in a report on Thursday, March 20th. Finally, Citigroup increased their price target on Veeva Systems from $281.00 to $307.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $256.52.

Veeva Systems 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.