Zurcher Kantonalbank Zurich Cantonalbank Sells 3,167 Shares of Veeva Systems Inc. (NYSE:VEEV)

Zurcher Kantonalbank Zurich Cantonalbank lowered its holdings in Veeva Systems Inc. (NYSE:VEEV) by 4.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 74,486 shares of the technology company’s stock after selling 3,167 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Veeva Systems were worth $15,661,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of VEEV. OFI Invest Asset Management bought a new stake in Veeva Systems during the 4th quarter worth approximately $41,000. Schaper Benz & Wise Investment Counsel Inc. WI grew its holdings in Veeva Systems by 31.0% during the fourth quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 5,921 shares of the technology company’s stock worth $1,245,000 after buying an additional 1,402 shares in the last quarter. Amundi grew its holdings in Veeva Systems by 9.8% during the fourth quarter. Amundi now owns 459,044 shares of the technology company’s stock worth $99,750,000 after buying an additional 40,884 shares in the last quarter. Larson Financial Group LLC raised its position in Veeva Systems by 8.2% in the 4th quarter. Larson Financial Group LLC now owns 1,736 shares of the technology company’s stock valued at $365,000 after buying an additional 132 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its stake in Veeva Systems by 1.6% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 79,771 shares of the technology company’s stock valued at $17,919,000 after acquiring an additional 1,294 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on VEEV shares. Evercore ISI upped their target price on shares of Veeva Systems from $220.00 to $245.00 and gave the stock an “in-line” rating in a research note on Friday, December 6th. Citigroup upped their price objective on shares of Veeva Systems from $281.00 to $307.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Truist Financial lifted their target price on shares of Veeva Systems from $210.00 to $217.00 and gave the stock a “hold” rating in a research report on Thursday, March 6th. Scotiabank upped their target price on Veeva Systems from $240.00 to $245.00 and gave the company a “sector perform” rating in a report on Thursday, March 6th. Finally, Stephens reaffirmed an “overweight” rating and set a $280.00 price target on shares of Veeva Systems in a research report on Thursday, March 6th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $255.28.

Veeva Systems Price Performance

Shares of VEEV stock opened at $233.34 on Thursday. The stock has a market capitalization of $37.88 billion, a price-to-earnings ratio of 57.62, a PEG ratio of 1.89 and a beta of 0.88. The company’s fifty day simple moving average is $226.36 and its two-hundred day simple moving average is $220.96. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93.

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.