Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. cut its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 12.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 545 shares of the technology company’s stock after selling 76 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Veeva Systems were worth $115,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in VEEV. MassMutual Private Wealth & Trust FSB raised its position in shares of 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 acquiring an additional 50 shares during the period. Centricity Wealth Management LLC acquired a new position in Veeva Systems in the 4th quarter worth about $25,000. Smithfield Trust Co boosted its position in Veeva Systems by 145.5% during the fourth quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock worth $27,000 after purchasing an additional 80 shares in the last quarter. True Wealth Design LLC boosted its position in Veeva Systems by 3,375.0% during the third quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock worth $29,000 after purchasing an additional 135 shares in the last quarter. Finally, Avion Wealth grew its holdings in Veeva Systems by 635.0% in the fourth quarter. Avion Wealth now owns 147 shares of the technology company’s stock valued at $30,000 after purchasing an additional 127 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on VEEV shares. Scotiabank upped their target price on Veeva Systems from $240.00 to $245.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 6th. Truist Financial upped their price objective on shares of Veeva Systems from $210.00 to $217.00 and gave the stock a “hold” rating in a research report on Thursday, March 6th. Evercore ISI lifted their target price on shares of Veeva Systems from $220.00 to $245.00 and gave the company an “in-line” rating in a research report on Friday, December 6th. KeyCorp reduced their price target on shares of Veeva Systems from $285.00 to $255.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Finally, The Goldman Sachs Group cut Veeva Systems from a “buy” rating to a “sell” rating and lowered their price objective for the stock from $261.00 to $200.00 in a report on Thursday, January 23rd. Two equities 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 MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $256.52.

Veeva Systems Price Performance

Shares of VEEV stock opened at $227.74 on Wednesday. The company has a market capitalization of $37.05 billion, a PE ratio of 56.23, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88. The firm’s 50-day moving average is $232.01 and its two-hundred day moving average is $223.02. Veeva Systems Inc. has a 12 month low of $170.25 and a 12 month 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.