EFG Asset Management North America Corp. Has $7.27 Million Stock Position in Veeva Systems Inc. (NYSE:VEEV)

EFG Asset Management North America Corp. cut its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 4.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,576 shares of the technology company’s stock after selling 1,690 shares during the period. Veeva Systems accounts for approximately 1.0% of EFG Asset Management North America Corp.’s holdings, making the stock its 15th biggest holding. EFG Asset Management North America Corp.’s holdings in Veeva Systems were worth $7,269,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of VEEV. Principal Financial Group Inc. boosted its position in shares of Veeva Systems by 138.9% in 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. Mutual of America Capital Management LLC grew its position in shares of Veeva Systems by 51.3% during the 3rd quarter. Mutual of America Capital Management LLC now owns 3,432 shares of the technology company’s stock worth $720,000 after buying an additional 1,163 shares during the period. Pathstone Holdings LLC increased its stake in shares of Veeva Systems by 15.4% in the 3rd quarter. Pathstone Holdings LLC now owns 11,281 shares of the technology company’s stock valued at $2,368,000 after acquiring an additional 1,508 shares during the last quarter. Commerce Bank increased its stake in shares of Veeva Systems by 4.4% in the 3rd quarter. Commerce Bank now owns 6,330 shares of the technology company’s stock valued at $1,328,000 after acquiring an additional 265 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Veeva Systems by 3.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 681,807 shares of the technology company’s stock valued at $143,091,000 after acquiring an additional 19,879 shares during the period. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Up 1.0 %

NYSE:VEEV opened at $239.06 on Tuesday. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93. The firm has a market capitalization of $38.81 billion, a price-to-earnings ratio of 59.03, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88. The stock’s 50 day moving average price is $229.76 and its two-hundred day moving average price is $222.42.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on VEEV shares. Morgan Stanley boosted their price objective on shares of Veeva Systems from $195.00 to $201.00 and gave the company an “underweight” rating in a report on Thursday, March 6th. Robert W. Baird upped their price objective on shares of Veeva Systems from $283.00 to $285.00 and gave the company an “outperform” rating in a research report on Thursday, March 6th. StockNews.com upgraded Veeva Systems from a “hold” rating to a “buy” rating in a report on Monday, February 17th. 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 report on Friday, December 6th. Finally, Stephens reiterated an “overweight” rating and set a $280.00 price objective on shares of Veeva Systems in a report on Thursday, March 6th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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.