Veeva Systems Inc. (NYSE:VEEV) Shares Sold by United Community Bank

United Community Bank trimmed its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 4.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,010 shares of the technology company’s stock after selling 45 shares during the quarter. United Community Bank’s holdings in Veeva Systems were worth $212,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. MassMutual Private Wealth & Trust FSB increased its stake in Veeva Systems by 72.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock worth $25,000 after buying an additional 50 shares during the period. Centricity Wealth Management LLC purchased a new stake in shares of Veeva Systems during the fourth quarter worth $25,000. Smithfield Trust Co raised its stake in shares of Veeva Systems by 145.5% in the fourth quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock valued at $27,000 after acquiring an additional 80 shares in the last quarter. True Wealth Design LLC boosted its holdings in Veeva Systems by 3,375.0% in the third quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock valued at $29,000 after purchasing an additional 135 shares during the period. Finally, Avion Wealth grew its stake in Veeva Systems by 635.0% during the 4th quarter. Avion Wealth now owns 147 shares of the technology company’s stock worth $30,000 after purchasing an additional 127 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Price Performance

Veeva Systems stock opened at $247.10 on Friday. The stock’s 50 day moving average price is $224.92 and its 200 day moving average price is $220.21. The company has a market cap of $40.12 billion, a PE ratio of 61.01, a price-to-earnings-growth 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.

Wall Street Analysts Forecast Growth

VEEV has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price objective on Veeva Systems from $275.00 to $285.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. The Goldman Sachs Group lowered shares of Veeva Systems from a “buy” rating to a “sell” rating and reduced their price objective for the company from $261.00 to $200.00 in a report on Thursday, January 23rd. Robert W. Baird increased their price objective on Veeva Systems from $283.00 to $285.00 and gave the company an “outperform” rating in a report on Thursday. Stifel Nicolaus boosted their target price on Veeva Systems from $240.00 to $272.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, Citigroup boosted 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. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company 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.