AXQ Capital LP Decreases Stock Position in Veeva Systems Inc. (NYSE:VEEV)

AXQ Capital LP reduced its position in Veeva Systems Inc. (NYSE:VEEV) by 17.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,637 shares of the technology company’s stock after selling 345 shares during the quarter. AXQ Capital LP’s holdings in Veeva Systems were worth $344,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Umpqua Bank grew its position in shares of Veeva Systems by 4.9% in the fourth quarter. Umpqua Bank now owns 3,859 shares of the technology company’s stock valued at $814,000 after purchasing an additional 180 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Veeva Systems in the fourth quarter valued at $3,323,000. Quantbot Technologies LP grew its position in shares of Veeva Systems by 269.9% in the fourth quarter. Quantbot Technologies LP now owns 10,805 shares of the technology company’s stock valued at $2,272,000 after purchasing an additional 7,884 shares in the last quarter. Whittier Trust Co. grew its position in shares of Veeva Systems by 407.0% in the fourth quarter. Whittier Trust Co. now owns 436 shares of the technology company’s stock valued at $92,000 after purchasing an additional 350 shares in the last quarter. Finally, Blueshift Asset Management LLC purchased a new position in shares of Veeva Systems in the fourth quarter valued at $227,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems Trading Up 0.5 %

NYSE VEEV opened at $236.98 on Monday. Veeva Systems Inc. has a 1-year low of $170.25 and a 1-year high of $258.93. The stock has a 50-day moving average of $229.24 and a 200-day moving average of $222.25. The firm has a market cap of $38.47 billion, a PE ratio of 58.51, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Canaccord Genuity Group lifted their price target on Veeva Systems from $210.00 to $270.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Piper Sandler lifted their price target on Veeva Systems from $280.00 to $290.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Bank of America lifted their price target on Veeva Systems from $280.00 to $290.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Barclays lifted their price objective on Veeva Systems from $260.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Finally, Wells Fargo & Company lifted their price objective on Veeva Systems from $275.00 to $285.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $256.52.

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.