Jupiter Asset Management Ltd. Sells 120,112 Shares of Veeva Systems Inc. (NYSE:VEEV)

Jupiter Asset Management Ltd. lowered its position in Veeva Systems Inc. (NYSE:VEEV) by 64.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 66,495 shares of the technology company’s stock after selling 120,112 shares during the period. Jupiter Asset Management Ltd.’s holdings in Veeva Systems were worth $13,981,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in VEEV. Massachusetts Financial Services Co. MA increased its position in shares of Veeva Systems by 64.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company’s stock worth $744,084,000 after acquiring an additional 1,392,256 shares during the period. Principal Financial Group Inc. increased its position in shares of Veeva Systems by 138.9% during the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock worth $457,366,000 after acquiring an additional 1,267,061 shares during the period. JPMorgan Chase & Co. increased its position in shares of Veeva Systems by 73.2% during the third quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company’s stock worth $536,972,000 after acquiring an additional 1,081,501 shares during the period. Wealthfront Advisers LLC increased its position in shares of Veeva Systems by 29,760.5% during the fourth quarter. Wealthfront Advisers LLC now owns 1,048,700 shares of the technology company’s stock worth $220,489,000 after acquiring an additional 1,045,188 shares during the period. Finally, FMR LLC increased its position in shares of Veeva Systems by 25.7% during the third quarter. FMR LLC now owns 2,981,244 shares of the technology company’s stock worth $625,674,000 after acquiring an additional 610,021 shares during the period. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Trading Up 0.7 %

NYSE:VEEV opened at $233.34 on Thursday. Veeva Systems Inc. has a 12 month low of $170.25 and a 12 month high of $258.93. The firm has a fifty day simple moving average of $226.36 and a 200-day simple moving average of $220.96. The company has a market capitalization of $37.88 billion, a P/E ratio of 57.62, a PEG ratio of 1.89 and a beta of 0.88.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Stephens reaffirmed an “overweight” rating and set a $280.00 target price on shares of Veeva Systems in a research report on Thursday, March 6th. Royal Bank of Canada raised their target price on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Canaccord Genuity Group raised their target price on shares of Veeva Systems from $210.00 to $270.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. StockNews.com raised shares of Veeva Systems from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Finally, Evercore ISI lifted their price objective on shares of Veeva Systems from $220.00 to $245.00 and gave the company an “in-line” rating in a report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Veeva Systems has a consensus rating of “Moderate Buy” and an average target price of $255.28.

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.