Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. reduced its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 76.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 360 shares of the technology company’s stock after selling 1,196 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Veeva Systems were worth $76,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA raised its stake in Veeva Systems by 64.7% during the 3rd 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 in the last quarter. State Street Corp raised its stake in Veeva Systems by 1.5% during the 3rd quarter. State Street Corp now owns 3,293,141 shares of the technology company’s stock worth $691,132,000 after acquiring an additional 47,872 shares in the last quarter. FMR LLC raised its stake in Veeva Systems by 25.7% during the 3rd 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 in the last quarter. Principal Financial Group Inc. raised its stake in Veeva Systems by 36.0% during the 4th quarter. Principal Financial Group Inc. now owns 2,964,025 shares of the technology company’s stock worth $623,186,000 after acquiring an additional 784,741 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Veeva Systems by 5.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,765,236 shares of the technology company’s stock worth $579,630,000 after acquiring an additional 149,807 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. StockNews.com upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Royal Bank of Canada lifted their price objective on shares of Veeva Systems from $275.00 to $285.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Canaccord Genuity Group lifted their price objective on shares of Veeva Systems from $210.00 to $270.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Needham & Company LLC restated a “buy” rating and issued a $270.00 price objective on shares of Veeva Systems in a research note on Thursday. Finally, Citigroup lifted their price objective on shares of Veeva Systems from $281.00 to $307.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, Veeva Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $255.28.

Veeva Systems Trading Up 4.6 %

VEEV stock opened at $247.10 on Monday. The company has a market cap of $40.12 billion, a P/E ratio of 61.01, a P/E/G ratio of 1.89 and a beta of 0.88. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93. The company’s 50-day moving average price is $224.92 and its 200 day moving average price is $220.34.

Veeva Systems 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.