Zevenbergen Capital Investments LLC Sells 16,010 Shares of Veeva Systems Inc. (NYSE:VEEV)

Zevenbergen Capital Investments LLC lessened its holdings in Veeva Systems Inc. (NYSE:VEEV) by 7.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 212,192 shares of the technology company’s stock after selling 16,010 shares during the quarter. Veeva Systems makes up 0.9% of Zevenbergen Capital Investments LLC’s holdings, making the stock its 29th largest holding. Zevenbergen Capital Investments LLC’s holdings in Veeva Systems were worth $44,613,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of VEEV. MassMutual Private Wealth & Trust FSB lifted its stake in 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 bought a new position in shares of Veeva Systems during the fourth quarter valued at approximately $25,000. Smithfield Trust Co raised its stake in Veeva Systems by 145.5% in the fourth quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock worth $27,000 after buying an additional 80 shares in the last quarter. True Wealth Design LLC lifted its holdings 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 buying an additional 135 shares during the period. Finally, Avion Wealth boosted its position in Veeva Systems by 635.0% during the 4th quarter. Avion Wealth now owns 147 shares of the technology company’s stock valued at $30,000 after acquiring an additional 127 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Performance

VEEV opened at $236.98 on Monday. The stock has a market capitalization of $38.47 billion, a price-to-earnings ratio of 58.51, a PEG ratio of 1.89 and a beta of 0.88. The company has a fifty day moving average of $229.24 and a two-hundred day moving average of $222.25. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93.

Analysts Set New Price Targets

A number of brokerages recently weighed in on VEEV. Needham & Company LLC reaffirmed a “buy” rating and set a $270.00 price objective on shares of Veeva Systems in a research report on Thursday, March 6th. Barclays lifted their price objective on shares of Veeva Systems from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Mizuho assumed coverage on shares of Veeva Systems in a research report on Wednesday, December 4th. They set an “outperform” rating and a $275.00 target price for the company. Canaccord Genuity Group lifted their price target on shares of Veeva Systems from $210.00 to $270.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Finally, Morgan Stanley raised their price objective on Veeva Systems from $195.00 to $201.00 and gave the stock an “underweight” rating in a research report 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 issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $256.52.

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.