AlphaQuest LLC Has $415,000 Position in Veeva Systems Inc. (NYSE:VEEV)
by Danessa Lincoln · The Markets DailyAlphaQuest LLC trimmed its holdings in Veeva Systems Inc. (NYSE:VEEV – Free Report) by 52.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,972 shares of the technology company’s stock after selling 2,200 shares during the quarter. AlphaQuest LLC’s holdings in Veeva Systems were worth $415,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently made changes to their positions in VEEV. MassMutual Private Wealth & Trust FSB grew its holdings in Veeva Systems by 72.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock worth $25,000 after purchasing an additional 50 shares during the period. Centricity Wealth Management LLC bought a new position in shares of Veeva Systems during the 4th quarter worth about $25,000. Smithfield Trust Co grew its stake in shares of Veeva Systems by 145.5% in the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock valued at $27,000 after buying an additional 80 shares during the period. True Wealth Design LLC increased its position in Veeva Systems by 3,375.0% in the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock valued at $29,000 after buying an additional 135 shares in the last quarter. Finally, Avion Wealth raised its stake in Veeva Systems by 635.0% during the 4th quarter. Avion Wealth now owns 147 shares of the technology company’s stock worth $30,000 after buying an additional 127 shares during the period. Institutional investors own 88.20% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have recently commented on VEEV shares. The Goldman Sachs Group downgraded Veeva Systems from a “buy” rating to a “sell” rating and decreased their price objective for the company from $261.00 to $200.00 in a report on Thursday, January 23rd. JPMorgan Chase & Co. boosted their price target on shares of Veeva Systems from $208.00 to $218.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. Royal Bank of Canada upped their price objective on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Bank of America lifted their price objective on shares of Veeva Systems from $280.00 to $290.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Finally, Robert W. Baird lifted their price target on Veeva Systems from $283.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday, March 6th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $255.28.
Read Our Latest Analysis on Veeva Systems
Veeva Systems Price Performance
NYSE:VEEV opened at $228.01 on Friday. The company has a market capitalization of $37.02 billion, a P/E ratio of 56.30, a P/E/G ratio of 1.89 and a beta of 0.88. The business has a fifty day simple moving average of $226.71 and a two-hundred day simple moving average of $221.00. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year 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.
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