AlphaQuest LLC Sells 2,200 Shares of Veeva Systems Inc. (NYSE:VEEV)

AlphaQuest LLC trimmed its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 52.7% during the fourth quarter, according to the company in its most recent 13F filing with the 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 SEC filing.

A number of other hedge funds have also added to or reduced their stakes in VEEV. MassMutual Private Wealth & Trust FSB grew its stake in Veeva Systems by 72.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock valued at $25,000 after acquiring an additional 50 shares in the last quarter. Centricity Wealth Management LLC purchased a new stake in Veeva Systems in the 4th quarter worth approximately $25,000. Smithfield Trust Co boosted its holdings in 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 purchasing an additional 80 shares during the period. True Wealth Design LLC grew its position in shares of Veeva Systems by 3,375.0% during the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock valued at $29,000 after purchasing an additional 135 shares in the last quarter. Finally, Avion Wealth increased its holdings in shares of Veeva Systems by 635.0% in the fourth quarter. Avion Wealth now owns 147 shares of the technology company’s stock worth $30,000 after purchasing an additional 127 shares during the period. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on VEEV shares. Evercore ISI lifted their price objective on Veeva Systems from $220.00 to $245.00 and gave the company an “in-line” rating in a research note on Friday, December 6th. Mizuho began coverage on Veeva Systems in a research report on Wednesday, December 4th. They set an “outperform” rating and a $275.00 price target for the company. Needham & Company LLC restated a “buy” rating and issued a $270.00 price objective on shares of Veeva Systems in a research report on Thursday, March 6th. Truist Financial raised their target price on shares of Veeva Systems from $210.00 to $217.00 and gave the company a “hold” rating in a research note on Thursday, March 6th. Finally, Robert W. Baird boosted 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. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $255.28.

Veeva Systems Price Performance

NYSE VEEV opened at $228.01 on Friday. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93. The stock has a market capitalization of $37.02 billion, a PE ratio of 56.30, a PEG ratio of 1.89 and a beta of 0.88. The business’s 50-day moving average is $226.71 and its 200 day moving average is $221.00.

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.