American Century Companies Inc. Sells 96,010 Shares of Veeva Systems Inc. (NYSE:VEEV)

American Century Companies Inc. decreased its holdings in Veeva Systems Inc. (NYSE:VEEV) by 18.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 421,270 shares of the technology company’s stock after selling 96,010 shares during the period. American Century Companies Inc.’s holdings in Veeva Systems were worth $88,572,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Virtu Financial LLC bought a new stake in Veeva Systems in the 4th quarter valued at $3,323,000. Quantbot Technologies LP increased its holdings in shares of Veeva Systems by 269.9% in the fourth quarter. Quantbot Technologies LP now owns 10,805 shares of the technology company’s stock valued at $2,272,000 after purchasing an additional 7,884 shares during the last quarter. Whittier Trust Co. increased its holdings in shares of Veeva Systems by 407.0% in the fourth quarter. Whittier Trust Co. now owns 436 shares of the technology company’s stock valued at $92,000 after purchasing an additional 350 shares during the last quarter. Blueshift Asset Management LLC bought a new position in shares of Veeva Systems in the fourth quarter valued at about $227,000. Finally, Teacher Retirement System of Texas lifted its stake in shares of Veeva Systems by 143.1% during the 4th quarter. Teacher Retirement System of Texas now owns 142,395 shares of the technology company’s stock worth $29,939,000 after buying an additional 83,826 shares during the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Barclays increased their price target 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. Wells Fargo & Company upped their target price on Veeva Systems from $275.00 to $285.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Needham & Company LLC reissued a “buy” rating and set a $270.00 price target on shares of Veeva Systems in a report on Thursday, March 6th. KeyCorp decreased their price objective on Veeva Systems from $285.00 to $255.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Finally, Stephens reiterated an “overweight” rating and set a $280.00 price objective on shares of Veeva Systems in a research report on Thursday, March 6th. Two 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $256.52.

Veeva Systems Trading Up 1.0 %

VEEV opened at $239.06 on Tuesday. The company has a market cap of $38.81 billion, a P/E ratio of 59.03, a PEG ratio of 1.89 and a beta of 0.88. The company’s 50 day moving average is $229.76 and its 200-day moving average is $222.42. Veeva Systems Inc. has a 1-year low of $170.25 and a 1-year high of $258.93.

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.