Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. reduced its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 64.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 66,495 shares of the technology company’s stock after selling 120,112 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Veeva Systems were worth $13,981,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in VEEV. Farther Finance Advisors LLC lifted its position in Veeva Systems by 4.3% during the fourth quarter. Farther Finance Advisors LLC now owns 3,355 shares of the technology company’s stock valued at $705,000 after purchasing an additional 139 shares during the period. EverSource Wealth Advisors LLC lifted its position in Veeva Systems by 316.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,134 shares of the technology company’s stock valued at $238,000 after purchasing an additional 862 shares during the period. Sequoia Financial Advisors LLC lifted its position in Veeva Systems by 7.5% during the fourth quarter. Sequoia Financial Advisors LLC now owns 17,676 shares of the technology company’s stock valued at $3,716,000 after purchasing an additional 1,227 shares during the period. Wealthfront Advisers LLC lifted its position in Veeva Systems by 29,760.5% during the fourth quarter. Wealthfront Advisers LLC now owns 1,048,700 shares of the technology company’s stock valued at $220,489,000 after purchasing an additional 1,045,188 shares during the period. Finally, Clare Market Investments LLC acquired a new position in Veeva Systems during the fourth quarter valued at $296,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on VEEV shares. KeyCorp decreased their target price on shares of Veeva Systems from $285.00 to $255.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Mizuho started coverage on shares of Veeva Systems in a research report on Wednesday, December 4th. They set an “outperform” rating and a $275.00 target price for the company. Evercore ISI boosted their target price on shares of Veeva Systems from $220.00 to $245.00 and gave the company an “in-line” rating in a research report on Friday, December 6th. Robert W. Baird upped their price objective 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. Finally, Barclays upped their price objective on shares of Veeva Systems from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $255.28.

Veeva Systems Stock Up 0.7 %

VEEV stock opened at $233.34 on Thursday. 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 $37.88 billion, a P/E ratio of 57.62, a P/E/G ratio of 1.89 and a beta of 0.88. The firm has a 50-day simple moving average of $226.36 and a 200-day simple moving average of $220.96.

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.