Nomura Asset Management Co. Ltd. Sells 215 Shares of Veeva Systems Inc. (NYSE:VEEV)

Nomura Asset Management Co. Ltd. cut its position in Veeva Systems Inc. (NYSE:VEEV) by 0.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,105 shares of the technology company’s stock after selling 215 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Veeva Systems were worth $9,063,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in VEEV. Principal Financial Group Inc. increased its holdings in shares of 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 during the period. D.A. Davidson & CO. grew its position in Veeva Systems by 2.5% during the third quarter. D.A. Davidson & CO. now owns 5,630 shares of the technology company’s stock worth $1,182,000 after buying an additional 136 shares in the last quarter. Townsquare Capital LLC increased its stake in Veeva Systems by 35.7% during the 3rd quarter. Townsquare Capital LLC now owns 4,762 shares of the technology company’s stock worth $999,000 after acquiring an additional 1,253 shares during the period. Rockefeller Capital Management L.P. raised its holdings in Veeva Systems by 1.1% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 39,883 shares of the technology company’s stock valued at $8,370,000 after acquiring an additional 430 shares in the last quarter. Finally, Captrust Financial Advisors lifted its position in shares of Veeva Systems by 10.5% during the 3rd quarter. Captrust Financial Advisors now owns 7,865 shares of the technology company’s stock valued at $1,651,000 after acquiring an additional 745 shares during the period. 88.20% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

VEEV has been the topic of a number of recent analyst reports. Robert W. Baird raised their price target on Veeva Systems from $283.00 to $285.00 and gave the stock an “outperform” rating in a research report on Thursday, March 6th. Scotiabank boosted their target price on shares of Veeva Systems from $240.00 to $245.00 and gave the company a “sector perform” rating in a research report on Thursday, March 6th. Evercore ISI upped their price target on shares of Veeva Systems from $220.00 to $245.00 and gave the stock an “in-line” rating in a report on Friday, December 6th. Stifel Nicolaus lifted their price objective on shares of Veeva Systems from $240.00 to $272.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Finally, Needham & Company LLC restated a “buy” rating and set a $270.00 target price on shares of Veeva Systems in a research note on Thursday, March 6th. Two research analysts have rated the stock with a sell rating, eight have issued 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 price target of $256.52.

Veeva Systems Stock Down 1.1 %

Shares of Veeva Systems stock opened at $231.65 on Tuesday. The stock has a market cap of $37.69 billion, a price-to-earnings ratio of 57.20, 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. The company’s fifty day moving average is $231.92 and its 200 day moving average is $222.95.

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.