Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Dana Investment Advisors Inc.

Dana Investment Advisors Inc. lowered its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 4.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,998 shares of the technology company’s stock after selling 142 shares during the quarter. Dana Investment Advisors Inc.’s holdings in Veeva Systems were worth $630,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Arizona State Retirement System raised its position in shares of Veeva Systems by 1.6% during the 4th quarter. Arizona State Retirement System now owns 44,682 shares of the technology company’s stock worth $9,394,000 after purchasing an additional 685 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Veeva Systems during the 4th quarter worth approximately $22,545,000. Atria Investments Inc raised its position in shares of Veeva Systems by 5.8% during the 4th quarter. Atria Investments Inc now owns 15,867 shares of the technology company’s stock worth $3,336,000 after purchasing an additional 868 shares during the period. Assetmark Inc. raised its position in shares of Veeva Systems by 77.3% during the 4th quarter. Assetmark Inc. now owns 85,456 shares of the technology company’s stock worth $17,967,000 after purchasing an additional 37,251 shares during the period. Finally, Smithfield Trust Co raised its position in shares of Veeva Systems by 145.5% during the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock worth $27,000 after purchasing an additional 80 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. 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 report on Friday, December 6th. Wells Fargo & Company increased their price objective on Veeva Systems from $275.00 to $285.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Mizuho initiated coverage on Veeva Systems in a report on Wednesday, December 4th. They issued an “outperform” rating and a $275.00 price objective for the company. Morgan Stanley increased their price objective on Veeva Systems from $195.00 to $201.00 and gave the stock an “underweight” rating in a report on Thursday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $270.00 price objective on shares of Veeva Systems in a report on Thursday. 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 company’s stock. According to data from MarketBeat, Veeva Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $255.28.

Veeva Systems Stock Performance

Shares of NYSE VEEV opened at $247.10 on Friday. The stock has a fifty day moving average price of $224.92 and a two-hundred day moving average price of $220.21. The firm has a market cap of $40.12 billion, a P/E ratio of 61.01, 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.

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.