Veeva Systems Inc. (NYSE:VEEV) Shares Sold by TD Private Client Wealth LLC

TD Private Client Wealth LLC reduced its position in Veeva Systems Inc. (NYSE:VEEV) by 4.0% in the 4th quarter, Holdings Channel reports. The firm owned 7,582 shares of the technology company’s stock after selling 320 shares during the quarter. TD Private Client Wealth LLC’s holdings in Veeva Systems were worth $1,594,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in VEEV. Whittier Trust Co. boosted its stake in shares of Veeva Systems by 407.0% in the 4th quarter. Whittier Trust Co. now owns 436 shares of the technology company’s stock valued at $92,000 after buying an additional 350 shares during the period. Blueshift Asset Management LLC purchased a new position in shares of Veeva Systems in the 4th quarter valued at about $227,000. Teacher Retirement System of Texas boosted its stake in shares of Veeva Systems by 143.1% in the 4th quarter. Teacher Retirement System of Texas now owns 142,395 shares of the technology company’s stock valued at $29,939,000 after buying an additional 83,826 shares during the period. Royal London Asset Management Ltd. boosted its stake in shares of Veeva Systems by 4.9% in the 4th quarter. Royal London Asset Management Ltd. now owns 70,282 shares of the technology company’s stock valued at $14,777,000 after buying an additional 3,295 shares during the period. Finally, Generali Investments Management Co LLC purchased a new position in shares of Veeva Systems in the 4th quarter valued at about $2,215,000. 88.20% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

VEEV has been the subject of several recent research reports. Royal Bank of Canada lifted their price objective on Veeva Systems from $275.00 to $285.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. The Goldman Sachs Group lowered shares of Veeva Systems from a “buy” rating to a “sell” rating and dropped their price target for the company from $261.00 to $200.00 in a research note on Thursday, January 23rd. Robert W. Baird increased their price target on shares of Veeva Systems from $283.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday, March 6th. Piper Sandler lifted their price target on shares of Veeva Systems from $280.00 to $290.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Finally, Wells Fargo & Company lifted their price target on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $256.52.

Veeva Systems Stock Up 0.5 %

Shares of NYSE:VEEV opened at $236.98 on Friday. The company has a market cap of $38.47 billion, a price-to-earnings ratio of 58.51, a PEG ratio of 1.89 and a beta of 0.88. The firm’s 50-day simple moving average is $229.24 and its 200-day simple moving average is $222.22. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93.

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.