Nomura Asset Management Co. Ltd. Sells 215 Shares of Veeva Systems Inc. (NYSE:VEEV)

Nomura Asset Management Co. Ltd. lowered its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 0.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 43,105 shares of the technology company’s stock after selling 215 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Veeva Systems were worth $9,063,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Norges Bank bought a new stake in shares of Veeva Systems in the fourth quarter worth about $294,785,000. Principal Financial Group Inc. increased its stake in Veeva Systems by 138.9% during the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock worth $457,366,000 after purchasing an additional 1,267,061 shares in the last quarter. JPMorgan Chase & Co. increased its stake 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 in the last quarter. Wealthfront Advisers LLC raised its holdings in Veeva Systems by 29,760.5% during the 4th quarter. Wealthfront Advisers LLC now owns 1,048,700 shares of the technology company’s stock worth $220,489,000 after buying an additional 1,045,188 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Veeva Systems in the fourth quarter valued at approximately $95,710,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

VEEV has been the topic of a number of research analyst reports. Evercore ISI raised their price objective on shares of Veeva Systems from $220.00 to $245.00 and gave the stock an “in-line” rating in a report on Friday, December 6th. StockNews.com raised Veeva Systems from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Barclays upped their price objective on Veeva Systems from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. KeyCorp dropped their target price on Veeva Systems from $285.00 to $255.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Finally, Royal Bank of Canada upped their price target on Veeva Systems from $275.00 to $285.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, Veeva Systems has a consensus rating of “Moderate Buy” and an average price target of $256.52.

Veeva Systems Price Performance

Shares of Veeva Systems stock opened at $231.65 on Tuesday. The business has a fifty day simple moving average of $231.92 and a two-hundred day simple moving average of $222.95. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93. The company has a market capitalization of $37.69 billion, a price-to-earnings ratio of 57.20, a P/E/G ratio of 1.89 and a beta of 0.88.

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.