CIBC Private Wealth Group LLC Sells 7,275 Shares of Veeva Systems Inc. (NYSE:VEEV)

CIBC Private Wealth Group LLC decreased its position in Veeva Systems Inc. (NYSE:VEEV) by 2.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 269,860 shares of the technology company’s stock after selling 7,275 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Veeva Systems were worth $58,641,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of VEEV. Norges Bank bought a new position in shares of Veeva Systems in the fourth quarter worth approximately $294,785,000. Principal Financial Group Inc. raised its holdings in Veeva Systems by 138.9% in the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock worth $457,366,000 after acquiring an additional 1,267,061 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Veeva Systems by 73.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company’s stock valued at $536,972,000 after acquiring an additional 1,081,501 shares in the last quarter. Wealthfront Advisers LLC boosted its stake in Veeva Systems by 29,760.5% during the 4th quarter. Wealthfront Advisers LLC now owns 1,048,700 shares of the technology company’s stock valued at $220,489,000 after purchasing an additional 1,045,188 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Veeva Systems during the 4th quarter valued at $95,710,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Bank of America upped their price target on Veeva Systems from $280.00 to $290.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Stifel Nicolaus raised their price target on shares of Veeva Systems from $240.00 to $272.00 and gave the company a “buy” rating in a report on Friday, December 6th. Robert W. Baird lifted their price target on shares of Veeva Systems from $283.00 to $285.00 and gave the stock an “outperform” rating in a research note on Thursday, March 6th. Wells Fargo & Company increased their price objective on shares of Veeva Systems from $275.00 to $285.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $270.00 target price on shares of Veeva Systems in a research report on Thursday, March 6th. Two investment 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $256.52.

Veeva Systems Stock Down 1.4 %

NYSE:VEEV opened at $234.10 on Monday. The business’s 50-day simple moving average is $231.62 and its two-hundred day simple moving average is $222.87. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93. The stock has a market cap of $38.01 billion, a PE ratio of 57.80, a P/E/G ratio of 1.89 and a beta of 0.88.

Veeva Systems 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.