Personal CFO Solutions LLC Decreases Stake in Veeva Systems Inc. (NYSE:VEEV)

Personal CFO Solutions LLC lowered its holdings in Veeva Systems Inc. (NYSE:VEEV) by 5.0% during the fourth quarter, Holdings Channel reports. The fund owned 1,131 shares of the technology company’s stock after selling 59 shares during the quarter. Personal CFO Solutions LLC’s holdings in Veeva Systems were worth $238,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in VEEV. Massachusetts Financial Services Co. MA increased its stake in shares of Veeva Systems by 64.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company’s stock worth $744,084,000 after acquiring an additional 1,392,256 shares during the period. Principal Financial Group Inc. increased its stake in shares of Veeva Systems by 138.9% in the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock worth $457,366,000 after acquiring an additional 1,267,061 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Veeva Systems by 73.2% in the third quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company’s stock worth $536,972,000 after acquiring an additional 1,081,501 shares during the period. FMR LLC grew its position in Veeva Systems by 25.7% during the third quarter. FMR LLC now owns 2,981,244 shares of the technology company’s stock valued at $625,674,000 after buying an additional 610,021 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Veeva Systems during the fourth quarter valued at $95,710,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Trading Down 3.0 %

NYSE:VEEV opened at $239.38 on Tuesday. The company’s 50-day moving average price is $225.47 and its 200-day moving average price is $220.64. The company has a market cap of $38.86 billion, a P/E ratio of 59.11, a P/E/G ratio of 1.89 and a beta of 0.88. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93.

Wall Street Analyst Weigh In

Several research firms recently commented on VEEV. Bank of America raised their price target on shares of Veeva Systems from $280.00 to $290.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. KeyCorp dropped their price target on shares of Veeva Systems from $285.00 to $255.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Citigroup raised their price target on shares of Veeva Systems from $281.00 to $307.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Evercore ISI raised their price target 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. Finally, Piper Sandler raised their price target on shares of Veeva Systems from $280.00 to $290.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, Veeva Systems has an average rating of “Moderate Buy” and an average target price of $255.28.

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.