Whittier Trust Co. of Nevada Inc. Lowers Holdings in Veeva Systems Inc. (NYSE:VEEV)

Whittier Trust Co. of Nevada Inc. decreased its stake in Veeva Systems Inc. (NYSE:VEEV) by 4.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,416 shares of the technology company’s stock after selling 350 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Veeva Systems were worth $1,559,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of VEEV. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Veeva Systems by 72.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock valued at $25,000 after acquiring an additional 50 shares during the last quarter. Centricity Wealth Management LLC purchased a new position in shares of Veeva Systems during the fourth quarter worth $25,000. Smithfield Trust Co boosted its holdings in 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 purchasing an additional 80 shares during the period. 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 boosted its holdings in Veeva Systems by 635.0% in the fourth quarter. Avion Wealth now owns 147 shares of the technology company’s stock valued at $30,000 after purchasing an additional 127 shares during the period. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Performance

Shares of VEEV stock opened at $236.98 on Friday. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93. The company’s 50-day simple moving average is $229.24 and its 200-day simple moving average is $222.22. The stock has a market capitalization of $38.47 billion, a price-to-earnings ratio of 58.51, a PEG ratio of 1.89 and a beta of 0.88.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Royal Bank of Canada lifted their target price on Veeva Systems from $275.00 to $285.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Citigroup lifted their price target on Veeva Systems from $281.00 to $307.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Bank of America lifted their price target on Veeva Systems from $280.00 to $290.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. JPMorgan Chase & Co. lifted their price target on Veeva Systems from $218.00 to $249.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Robert W. Baird lifted their price target on Veeva Systems from $283.00 to $285.00 and gave the stock an “outperform” rating in a report on Thursday, March 6th. 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 data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $256.52.

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.