Sei Investments Co. Has $40.77 Million Holdings in Veeva Systems Inc. (NYSE:VEEV)

Sei Investments Co. decreased its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 51.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 193,920 shares of the technology company’s stock after selling 202,123 shares during the quarter. Sei Investments Co. owned about 0.12% of Veeva Systems worth $40,771,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Principal Financial Group Inc. grew its holdings in Veeva Systems by 138.9% in the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock worth $457,366,000 after purchasing an additional 1,267,061 shares during the period. Mutual of America Capital Management LLC boosted its position in shares of Veeva Systems by 51.3% during the 3rd quarter. Mutual of America Capital Management LLC now owns 3,432 shares of the technology company’s stock worth $720,000 after purchasing an additional 1,163 shares in the last quarter. Pathstone Holdings LLC grew its stake in shares of Veeva Systems by 15.4% in the 3rd quarter. Pathstone Holdings LLC now owns 11,281 shares of the technology company’s stock valued at $2,368,000 after buying an additional 1,508 shares during the period. Commerce Bank grew its stake in shares of Veeva Systems by 4.4% in the 3rd quarter. Commerce Bank now owns 6,330 shares of the technology company’s stock valued at $1,328,000 after buying an additional 265 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Veeva Systems by 3.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 681,807 shares of the technology company’s stock valued at $143,091,000 after buying an additional 19,879 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Stock Performance

NYSE VEEV opened at $239.06 on Tuesday. The company has a market capitalization of $38.81 billion, a PE ratio of 59.03, a price-to-earnings-growth 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 has a 50-day simple moving average of $229.76 and a 200 day simple moving average of $222.42.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on VEEV shares. KeyCorp cut their price target on Veeva Systems from $285.00 to $255.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Robert W. Baird lifted their price target on shares of Veeva Systems from $283.00 to $285.00 and gave the company an “outperform” rating in a research report on Thursday, March 6th. Barclays boosted their price target on shares of Veeva Systems from $260.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Truist Financial lifted their price objective on shares of Veeva Systems from $210.00 to $217.00 and gave the company a “hold” rating in a report on Thursday, March 6th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Veeva Systems from $218.00 to $249.00 and gave the stock a “neutral” rating in a research report on Thursday, March 20th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Veeva Systems currently has an average rating of “Moderate Buy” and a consensus price target of $256.52.

About Veeva Systems

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.