Zurcher Kantonalbank Zurich Cantonalbank Sells 3,167 Shares of Veeva Systems Inc. (NYSE:VEEV)

Zurcher Kantonalbank Zurich Cantonalbank lessened its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 4.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 74,486 shares of the technology company’s stock after selling 3,167 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Veeva Systems were worth $15,661,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Massachusetts Financial Services Co. MA grew its position in 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 valued at $744,084,000 after acquiring an additional 1,392,256 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of 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 valued at $457,366,000 after purchasing an additional 1,267,061 shares during the last quarter. JPMorgan Chase & Co. increased its position 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. FMR LLC increased its position in Veeva Systems by 25.7% during the 3rd quarter. FMR LLC now owns 2,981,244 shares of the technology company’s stock worth $625,674,000 after purchasing an additional 610,021 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Veeva Systems in the 4th quarter valued at approximately $95,710,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and set a $270.00 price target on shares of Veeva Systems in a report on Thursday, March 6th. KeyCorp lowered their target price on Veeva Systems from $285.00 to $255.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Robert W. Baird increased their target price on Veeva Systems from $283.00 to $285.00 and gave the company an “outperform” rating in a research report on Thursday, March 6th. Royal Bank of Canada boosted their price target on Veeva Systems from $275.00 to $285.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Finally, Morgan Stanley raised their price objective on shares of Veeva Systems from $195.00 to $201.00 and gave the company an “underweight” rating in a report on Thursday, March 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $255.28.

Veeva Systems Trading Up 0.7 %

VEEV opened at $233.34 on Thursday. The company has a fifty day moving average price of $226.36 and a two-hundred day moving average price of $220.96. Veeva Systems Inc. has a 1-year low of $170.25 and a 1-year high of $258.93. The company has a market cap of $37.88 billion, a P/E ratio of 57.62, a price-to-earnings-growth 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.