Ceera Investments LLC Decreases Holdings in Veeva Systems Inc. (NYSE:VEEV)

Ceera Investments LLC cut its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 1.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 20,130 shares of the technology company’s stock after selling 235 shares during the period. Veeva Systems comprises approximately 1.5% of Ceera Investments LLC’s holdings, making the stock its 26th largest position. Ceera Investments LLC’s holdings in Veeva Systems were worth $4,232,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in VEEV. OFI Invest Asset Management bought a new stake in shares of Veeva Systems during the 4th quarter valued at $41,000. Schaper Benz & Wise Investment Counsel Inc. WI boosted its holdings in Veeva Systems by 31.0% in the 4th quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 5,921 shares of the technology company’s stock worth $1,245,000 after buying an additional 1,402 shares during the period. Amundi boosted its holdings in Veeva Systems by 9.8% in the 4th quarter. Amundi now owns 459,044 shares of the technology company’s stock worth $99,750,000 after buying an additional 40,884 shares during the period. Larson Financial Group LLC boosted its holdings in Veeva Systems by 8.2% in the 4th quarter. Larson Financial Group LLC now owns 1,736 shares of the technology company’s stock worth $365,000 after buying an additional 132 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich boosted its holdings in Veeva Systems by 1.6% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 79,771 shares of the technology company’s stock worth $17,919,000 after buying an additional 1,294 shares during the period. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Veeva Systems Price Performance

Veeva Systems stock opened at $247.10 on Friday. Veeva Systems Inc. has a 1-year low of $170.25 and a 1-year high of $258.93. The firm has a market capitalization of $40.12 billion, a P/E ratio of 61.01, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88. The company’s 50-day moving average is $224.92 and its 200 day moving average is $220.21.

Analyst Ratings Changes

VEEV has been the subject of several recent analyst reports. Citigroup upped their target price on shares of Veeva Systems from $281.00 to $307.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Stifel Nicolaus upped their target price on shares of Veeva Systems from $240.00 to $272.00 and gave the stock a “buy” rating in a report on Friday, December 6th. KeyCorp dropped their target price on shares of Veeva Systems from $285.00 to $255.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Needham & Company LLC reissued a “buy” rating and set a $270.00 price objective on shares of Veeva Systems in a report on Thursday. Finally, Barclays increased their price objective 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. 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $255.28.

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.