Net Worth Advisory Group Sells 50 Shares of Veeva Systems Inc. (NYSE:VEEV)

Net Worth Advisory Group lowered its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 2.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,426 shares of the technology company’s stock after selling 50 shares during the quarter. Net Worth Advisory Group’s holdings in Veeva Systems were worth $510,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA increased its stake in shares of Veeva Systems by 64.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company’s stock worth $744,084,000 after purchasing an additional 1,392,256 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Veeva Systems by 138.9% during the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock worth $457,366,000 after purchasing an additional 1,267,061 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Veeva Systems by 73.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company’s stock worth $536,972,000 after purchasing an additional 1,081,501 shares during the last quarter. FMR LLC increased its stake in shares of Veeva Systems by 25.7% during the 3rd quarter. FMR LLC now owns 2,981,244 shares of the technology company’s stock worth $625,674,000 after purchasing an additional 610,021 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Veeva Systems during the 4th quarter worth approximately $95,710,000. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Performance

NYSE VEEV opened at $239.38 on Tuesday. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93. The company has a market capitalization of $38.86 billion, a P/E ratio of 59.11, a P/E/G ratio of 1.89 and a beta of 0.88. The company has a fifty day moving average of $225.47 and a 200-day moving average of $220.64.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. KeyCorp reduced their price objective on shares of Veeva Systems from $285.00 to $255.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Bank of America lifted their price objective on shares of Veeva Systems from $280.00 to $290.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Wells Fargo & Company lifted their price objective on shares of Veeva Systems from $275.00 to $285.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Stephens reiterated an “overweight” rating and issued a $280.00 price objective on shares of Veeva Systems in a research note on Thursday, March 6th. Finally, Citigroup lifted their price objective on shares of Veeva Systems from $281.00 to $307.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $255.28.

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.