Edmond DE Rothschild Holding S.A. Cuts Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Edmond DE Rothschild Holding S.A. cut its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 28.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 439,046 shares of the technology company’s stock after selling 173,957 shares during the period. Veeva Systems accounts for 1.6% of Edmond DE Rothschild Holding S.A.’s holdings, making the stock its 11th biggest position. Edmond DE Rothschild Holding S.A.’s holdings in Veeva Systems were worth $92,309,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in VEEV. Toronto Dominion Bank boosted its stake in shares of Veeva Systems by 39.1% during the 3rd quarter. Toronto Dominion Bank now owns 20,180 shares of the technology company’s stock worth $4,235,000 after acquiring an additional 5,673 shares in the last quarter. Principal Financial Group Inc. boosted its position in Veeva Systems by 138.9% during the third 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. Smith Group Asset Management LLC grew its holdings in Veeva Systems by 2.2% in the fourth quarter. Smith Group Asset Management LLC now owns 82,567 shares of the technology company’s stock valued at $17,360,000 after purchasing an additional 1,749 shares during the period. Everence Capital Management Inc. purchased a new stake in shares of Veeva Systems in the fourth quarter valued at approximately $816,000. Finally, Venturi Wealth Management LLC raised its stake in shares of Veeva Systems by 2,716.7% during the 4th quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company’s stock worth $36,000 after buying an additional 163 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Stock Down 1.4 %

NYSE:VEEV opened at $234.10 on Monday. The company has a market capitalization of $38.01 billion, a P/E ratio of 57.80, a P/E/G ratio of 1.89 and a beta of 0.88. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93. The stock’s fifty day moving average is $231.62 and its two-hundred day moving average is $222.87.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on VEEV. Canaccord Genuity Group lifted their price target on shares of Veeva Systems from $210.00 to $270.00 and gave the company a “hold” 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 target price for the company from $261.00 to $200.00 in a research report on Thursday, January 23rd. JPMorgan Chase & Co. raised their price target on shares of Veeva Systems from $218.00 to $249.00 and gave the company a “neutral” rating in a research note on Thursday, March 20th. Bank of America boosted their price objective on Veeva Systems from $280.00 to $290.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, Wells Fargo & Company raised their target price on Veeva Systems from $275.00 to $285.00 and gave the company an “overweight” rating in a research report 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 stock. According to data from MarketBeat, Veeva Systems currently has a consensus rating of “Moderate Buy” and an average price target of $256.52.

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.