NS Partners Ltd Sells 841 Shares of Veeva Systems Inc. (NYSE:VEEV)

NS Partners Ltd trimmed its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 1.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 69,237 shares of the technology company’s stock after selling 841 shares during the period. NS Partners Ltd’s holdings in Veeva Systems were worth $14,557,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB raised its stake 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 bought a new position in Veeva Systems in the fourth quarter worth about $25,000. Smithfield Trust Co raised its stake in Veeva Systems by 145.5% in the fourth quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock worth $27,000 after buying an additional 80 shares in the last quarter. True Wealth Design LLC raised its stake 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 worth $29,000 after buying an additional 135 shares in the last quarter. Finally, Avion Wealth raised its stake in Veeva Systems by 635.0% in the fourth quarter. Avion Wealth now owns 147 shares of the technology company’s stock worth $30,000 after buying an additional 127 shares in the last quarter. 88.20% of the stock is owned by institutional investors.

Veeva Systems Price Performance

Shares of VEEV stock opened at $247.10 on Friday. The company has a market capitalization of $40.12 billion, a price-to-earnings ratio of 61.01, a PEG ratio of 1.89 and a beta of 0.88. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93. The company’s fifty day moving average price is $224.92 and its 200-day moving average price is $220.03.

Wall Street Analyst Weigh In

VEEV has been the subject of a number of research reports. Needham & Company LLC reissued a “buy” rating and issued a $270.00 price target on shares of Veeva Systems in a research note on Thursday. Stephens reissued an “overweight” rating and issued a $280.00 price target on shares of Veeva Systems in a research note on Thursday. Evercore ISI increased their price target on shares of Veeva Systems from $220.00 to $245.00 and gave the stock an “in-line” rating in a research note on Friday, December 6th. Royal Bank of Canada raised their target price 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. Finally, Bank of America raised their target price on shares of Veeva Systems from $280.00 to $290.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $255.28.

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.