Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Trexquant Investment LP

Trexquant Investment LP decreased its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 11.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 78,426 shares of the technology company’s stock after selling 10,217 shares during the quarter. Trexquant Investment LP’s holdings in Veeva Systems were worth $16,489,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Geode Capital Management LLC grew its holdings in shares of Veeva Systems by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 2,803,344 shares of the technology company’s stock worth $589,208,000 after purchasing an additional 38,108 shares during the last quarter. National Bank of Canada FI boosted its position in shares of Veeva Systems by 4.3% in the 4th quarter. National Bank of Canada FI now owns 9,038 shares of the technology company’s stock worth $1,900,000 after buying an additional 376 shares in the last quarter. Franklin Resources Inc. lifted its stake in Veeva Systems by 14.9% in the 4th quarter. Franklin Resources Inc. now owns 1,745,705 shares of the technology company’s stock valued at $367,034,000 after buying an additional 226,167 shares in the last quarter. B. Metzler seel. Sohn & Co. AG boosted its stake in shares of Veeva Systems by 17.0% during the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 7,006 shares of the technology company’s stock worth $1,473,000 after purchasing an additional 1,019 shares during the last quarter. Finally, Summit Financial LLC grew its position in shares of Veeva Systems by 64.0% in the fourth quarter. Summit Financial LLC now owns 2,537 shares of the technology company’s stock valued at $533,000 after purchasing an additional 990 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Analyst Upgrades and Downgrades

VEEV has been the subject of a number of research reports. Royal Bank of Canada boosted their price target on Veeva Systems from $275.00 to $285.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Stifel Nicolaus raised their price objective on Veeva Systems from $240.00 to $272.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Wells Fargo & Company upped their price objective on Veeva Systems from $275.00 to $285.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Canaccord Genuity Group increased their price target on Veeva Systems from $210.00 to $270.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Finally, StockNews.com raised Veeva Systems from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, Veeva Systems has a consensus rating of “Moderate Buy” and a consensus target price of $256.52.

Veeva Systems Trading Down 1.7 %

VEEV opened at $227.74 on Wednesday. The stock has a market cap of $37.05 billion, a price-to-earnings ratio of 56.23, a PEG ratio of 1.89 and a beta of 0.88. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93. The stock has a fifty day moving average price of $232.01 and a 200 day moving average price of $223.02.

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.