Loomis Sayles & Co. L P Decreases Stake in Veeva Systems Inc. (NYSE:VEEV)

Loomis Sayles & Co. L P cut its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 5.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 255,674 shares of the technology company’s stock after selling 15,450 shares during the quarter. Loomis Sayles & Co. L P owned about 0.16% of Veeva Systems worth $53,756,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in VEEV. Sava Infond d.o.o. acquired a new position in Veeva Systems during the fourth quarter worth $1,074,000. JPMorgan Chase & Co. increased its position in shares of Veeva Systems by 17.5% in the fourth quarter. JPMorgan Chase & Co. now owns 3,005,633 shares of the technology company’s stock valued at $631,935,000 after buying an additional 447,041 shares in the last quarter. Elo Mutual Pension Insurance Co raised its stake in shares of Veeva Systems by 13.6% during the 4th quarter. Elo Mutual Pension Insurance Co now owns 15,397 shares of the technology company’s stock worth $3,237,000 after buying an additional 1,840 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Veeva Systems by 11.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 113,132 shares of the technology company’s stock worth $24,101,000 after buying an additional 11,465 shares in the last quarter. Finally, Korea Investment CORP grew its stake in Veeva Systems by 9.1% in the 4th quarter. Korea Investment CORP now owns 186,768 shares of the technology company’s stock valued at $39,268,000 after acquiring an additional 15,579 shares during the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on VEEV. Scotiabank upped their price target on shares of Veeva Systems from $240.00 to $245.00 and gave the company a “sector perform” rating in a report on Thursday, March 6th. Royal Bank of Canada upped their target price on Veeva Systems from $275.00 to $285.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Stephens reissued an “overweight” rating and set a $280.00 price target on shares of Veeva Systems in a research report on Thursday, March 6th. Evercore ISI upped their price objective on Veeva Systems from $220.00 to $245.00 and gave the company an “in-line” rating in a research report on Friday, December 6th. Finally, Truist Financial boosted their target price on shares of Veeva Systems from $210.00 to $217.00 and gave the company a “hold” rating in a research note on Thursday, March 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $256.52.

Veeva Systems Trading Up 0.8 %

Shares of NYSE VEEV opened at $237.52 on Friday. The stock has a fifty day moving average price of $231.27 and a 200 day moving average price of $222.79. Veeva Systems Inc. has a 12-month low of $170.25 and a 12-month high of $258.93. The company has a market cap of $38.56 billion, a P/E ratio of 58.65, a P/E/G ratio of 1.89 and a beta of 0.88.

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.