Achmea Investment Management B.V. Lowers Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Achmea Investment Management B.V. reduced its position in Veeva Systems Inc. (NYSE:VEEV) by 42.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 10,747 shares of the technology company’s stock after selling 7,771 shares during the period. Achmea Investment Management B.V.’s holdings in Veeva Systems were worth $2,259,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA grew its stake in shares of Veeva Systems by 64.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company’s stock valued at $744,084,000 after buying an additional 1,392,256 shares during the period. State Street Corp grew its stake in shares of Veeva Systems by 1.5% during the 3rd quarter. State Street Corp now owns 3,293,141 shares of the technology company’s stock valued at $691,132,000 after buying an additional 47,872 shares during the period. FMR LLC lifted its holdings in shares of Veeva Systems by 25.7% during the 3rd quarter. FMR LLC now owns 2,981,244 shares of the technology company’s stock valued at $625,674,000 after acquiring an additional 610,021 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Veeva Systems by 36.0% during the 4th quarter. Principal Financial Group Inc. now owns 2,964,025 shares of the technology company’s stock valued at $623,186,000 after acquiring an additional 784,741 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Veeva Systems by 5.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,765,236 shares of the technology company’s stock valued at $579,630,000 after acquiring an additional 149,807 shares in the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems Stock Performance

Shares of Veeva Systems stock opened at $233.84 on Friday. The firm has a market cap of $37.96 billion, a PE ratio of 57.74, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88. The firm’s 50-day simple moving average is $227.12 and its 200-day simple moving average is $221.25. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on VEEV shares. Evercore ISI lifted their target price on shares of Veeva Systems from $220.00 to $245.00 and gave the company an “in-line” rating in a report on Friday, December 6th. Barclays lifted their target price on shares of Veeva Systems from $260.00 to $275.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Stephens restated an “overweight” rating and set a $280.00 target price on shares of Veeva Systems in a report on Thursday, March 6th. Piper Sandler lifted their target price on shares of Veeva Systems from $280.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Finally, Truist Financial lifted their target price on shares of Veeva Systems from $210.00 to $217.00 and gave the company a “hold” rating in a report on Thursday, March 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.